Innovation creates value and is critical to success. Agricultural innovation is more than just a one-way transfer of results to practice: Innovation prospers when the worlds of research and farming permanently interact by sharing knowledge, ideas and thinking together. When it comes to fostering innovative cultures, companies throughout the produce supply chain must be open to changing the way they do business. This article discusses the building blocks of truly innovative companies and why the perception of a company’s culture often varies between senior leaders and mid-lower level managers and employees.
Agriculture is constantly addressing increases in food demand and the need to provide a sustainable, safe and secure food supply for an increasing global population. Stiff competition for limited natural resources as well as the additional pressure that this poses on ecosystems is challenging growers to think differently. Farmers are using technology not only to mitigate the impact of agriculture on climate change but also to adapt to the impact climate change is putting on farming. The challenge is not only to produce more, but also to produce more effectively, and in more difficult conditions.
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Many businesses are unaware of their eligibility to receive tax benefits through the Research and Development (R&D) Incentives scheme and Government Grants. At the PMA A-NZ members event on 19th November, KPMG's David Gelb told how businesses with a group turnover of less than $20 million can access a 45% tax offset (cash refund) for eligible R&D activities undertaken during the period 1 July 2013 to 30 June 2014. Where group turnover is greater than $20 million a net benefit of 10 cents/dollar of eligible R&D spend is available.
Gelb also spoke about determining eligibility for the incentive, by considering the following questions:
- Have I spent money developing a new or improved product?
- Are there projects that failed for technical reasons?
- Is the company extending the capabilities of an existing process or application beyond its intended use?
- Are new or existing technologies developed to deliver services in new ways?
- Is the company trying to integrate equipment or technology that was not meant to work together?
- Are there projects duplicating the effect of an existing process in a new or improved manner?
- Is there an award of a patent for the product, process or information?
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David Gelb's presentation is now available for download here.
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Access our additional resources on innovation via the PMA A-NZ Information Centre.
Additional information on KPMG's R&D, grants and incentives services is available here.
This report has been produced to give an overview of five innovations that will affect the fresh produce industry over the next decade. It was completed by University of Queensland student Georgina Pegg as part of the PMA A-NZ Career Pathways Program.
Topic: What are five innovations that will affect the fresh produce industry over the next decade? Cover all parts of the supply chain where relevant.
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Further resources are available via the PMA A-NZ Information Centre.
PMA A-NZ Career Pathways Program
Designed to attract the best and brightest students to begin a career in the fresh produce industry, the PMA A-NZ Career Pathways program connects the Australian and New Zealand fresh produce industry to future leaders by providing ten university students the opportunity to attend PMA Fresh Connections Conference and Trade Show.
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