The AGCO Foundation is teaming up with the University of Sydney’s Business School to launch an exciting new agriculture program. This AU$150,000 partnership aims to expand the Remote and Rural Enterprise (RARE) program and support rural communities in Australia.
For the past fifty years, many rural areas in Australia have seen economic decline. Over 70% of these communities have struggled due to population loss and a lack of job opportunities. Small farms and cooperatives are vital parts of these areas but face challenges like isolation, climate change, and market access.
The new agriculture stream of RARE will offer initiatives like social enterprise development and agricultural tourism. Each year, 50 to 70 students will engage in community projects, collaborating with local entrepreneurs and Indigenous-led businesses. They will work together to create solutions that enhance agricultural resilience and boost economic growth.
Roger Batkin, Chair of the AGCO Foundation, believes this partnership is key to building vibrant local ecosystems. He emphasizes that empowering future leaders with local knowledge is crucial for sustainable agricultural practices.
Professor Leisa Sargent, Dean of the University of Sydney Business School, echoes this sentiment. She highlights that this initiative not only benefits local businesses but also gives students valuable, hands-on experience. This creates real, lasting solutions that respect the unique cultural contexts of these communities.
Data supports the importance of these types of initiatives. A recent report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) indicates that rural Australia could see a 10% increase in economic output by investing in sustainable agricultural practices and community engagement.
Over the next two years, three agricultural enterprises will receive focused support, mentorship, and funding. The program will also provide opportunities for AGCO Foundation stakeholders to participate through lectures and community events. This helps foster a rich exchange of knowledge between the university and industry.
For more information on the RARE program, you can visit the University of Sydney’s official page HERE.
About AGCO
AGCO is a leader in agricultural machinery and technology. Founded in 1990 in Duluth, Georgia, AGCO strives to help farmers produce food sustainably. For additional information, check their official site at www.agcocorp.com.
About the AGCO Foundation
Established in 2018, the AGCO Foundation aims to improve lives in farming communities through innovative programs. Their focus is on fostering the next generation of agricultural leaders. Learn more at www.agcofoundation.org.
About The University of Sydney
Australia’s first university, founded in 1850, the University of Sydney has been at the forefront of education and research for over 175 years. It’s recognized globally as one of the top universities, consistently providing quality learning experiences. Visit www.sydney.edu.au for further details.
