FOMENT: Promoting Technology Acceleration and Adoption in the Australian and International Wine Tourism Industry

Abstract

The wine tourism industry is a good example of how technological advances are changing the industry value chain and promoting closer relationships between wineries, wine regions and tourists. The disruption of the wine tourism industry through technological developments has been hoped-for by many for a varied number of reasons. Firstly, because the democratisation of wine tourism offers growth opportunities to a number of smaller and regional wineries who are in need of economic stimulus. Additionally, it offers wineries access to a ready supply of visitors to their cellar door (in person or virtually) increasing sales and decreasing the costs of distribution channels. Although some wineries and tourism operators have already adopted some technological innovations, the industry in general has not yet caught up with the latest technological applications. This chapter analyses FOMENT, a comprehensive Wine and Tourism Tech program, launched in South Australia in 2019, which promotes both technology acceleration of start-ups who are developing innovative and promising technologies and fosters technology adoption of these relevant technologies by wineries and other wine tourism players. FOMENT is supported by the Australian and South Australian Government and it aims to help start-ups to skill-up in business model innovation and Industry 4.0 technologies as well as connecting them with the wine tourism industry in Australia and globally. This chapter also discusses the innovation and business model of three technology start-up companies in wine tourism (namely Airguides, CogniVocal, Twenty Five Doors) that have participated and benefited from FOMENT. By discussing these three case studies, the chapter explains how their journey through FOMENT have influenced the further development of their business model in order to provide high-tech, customer-centred products and services that enhance wine tourism experience and satisfaction.