Wild Oryza species are being targeted for commercial cultivation due to their high nutritional grain profile, and their association with Aboriginal people in many regions. Australian wild Oryza species have potential as high-value, low-volume, culturally identified, and nutritious food, especially in gourmet food, tourism, restaurants, and value-added products. However, the basic agronomic protocols for their cultivation as a field crop are unknown. In this review, we identify the major factors supporting the commercial production of wild Oryza, including their stress-tolerant capacity, excellent grain quality attributes, and Indigenous cultural identification of their grains. The key challenges to be faced during the development of a wild rice industry are also discussed which include management barriers, processing issues, undesirable wild traits, and environmental concern. This manuscript proposes the use of agronomic research, in combination with breeding programs, as an overarching framework for the conceptualization and implementation of a successful wild rice industry, using the North American wild rice industry as a case study. The framework also suggests an integrated system that connects producers, industry, and government stakeholders. The suggested procedures for developing a wild rice industry in Australia are also applicable for other wild Oryza species.