Hydra Consulting co-launches 4th wine-focused tech accelerator

Co-founded by business advisory Hydra Consulting, the wine-focused tech accelerator FOMENT will kick off again next month, with selected start-ups set to undertake an intensive six-week program.

Running over six weeks, the fourth cycle of the program will be supported by local business advisory Hydra Consulting, alongside the Wine Industry Suppliers Association (WISA) and Flinders University. FOMENT claims to be the world’s only such wine-focused accelerator, with past participants coming from as far afield as the United States and France.

“We are looking forward to discovering new and emerging tech solutions for the wine sector as we launch the 2023 program, designed to support start-ups and facilitate the development and integration of their technology across Australia’s agriculture, wine, viticulture and tourism industries,” said WISA executive officer Shirley Fraser.

“Supporting innovation is the bridge for WISA to facilitate practical solutions in both production and supplier collaboration,” Fraser continued.

The immersive program will see the latest cohort of selected participants engage in a packed schedule of expert coaching, mentorship and networking opportunities, along with spending time in South Australia’s Barossa Valley – one of the world’s premiere wine-making regions. On the business side, the wine-tech start-ups will also be supported by experts in areas such as business model development, value proposition, marketing, and financials and funding.

FOMENT first launched in 2019 with the backing of Hydra Consulting and Flinders University’s New Venture Institute as inaugural partners, in a bid reinvigorate the $1 billion-plus South Australian wine industry and its global competitiveness through the adoption of modern technologies across the entire supply chain.

The success of the pilot program has since seen a number of other entities come on board, including the Australian Department of Industry, Science and Resources.

One of those early success stories was New Zeland-based rural bio-security solutions provider Onside. “FOMENT was phenomenal as my real focus was connections,” said Onside customer growth lead and former Deloitte risk advisory consultant Guy Davidson.

“Australia was a new place for Onside and I didn’t know anyone from the sector. I really wanted to jump into things and the team at FOMENT catered to that and provided me with intros and one-on-one mentoring.”

Meanwhile, Hydra co-founder Darren Oemcke, who serves as head coach of FOMENT, drilled down into the basics of the initiative. “Our acceleration program is for high-growth globally-oriented tech companies targeting the wine sector. Its role is to ensure companies going through FOMENT are delivering real value to the wine sector, solving real industry problems and that their solutions are matured and available as quickly as possible.”