Agriculture supports economic innovation and jobs
September 29, 2020 - Olds, Alberta - Agriculture and Agri-Food Canada
Alberta’s government is working to build value-added agriculture capacity and bolster economic activity with an aggressive private investment attraction target of $1.4 billion.
As part of Alberta’s Recovery Plan, this investment attraction initiative will create more than 2,000 jobs and get Albertans back to work in emerging sectors like hemp, agri-technology and value-added processing of grain, oilseed, plant protein and meat.
Olds College, with an investment of $200,000 from the governments of Canada and Alberta through the Canadian Agriculture Partnership (CAP), will partner with THRIVE’s Canada accelerator and startup program, which focuses on technology-driven solutions to support agriculture and food sectors. This builds on the Alberta government’s commitment of $1 million, made Sept. 21, to Olds College for its Smart Agriculture Applied Research program.
THRIVE will help strategically develop our agri-food system by providing guidance on high-value cluster opportunities, supporting startups, increasing Alberta’s exposure to Canadian and international companies, and strengthening supply chains with industry-supported technology. These supports will attract investment by demonstrating our commitment to fostering a competitive business environment.
Alberta’s government is also supporting new startups looking to enter the value-added industry by providing a single-window support for business and product, leveraging the new $15-million lending limit of the Agriculture Financial Services Corporation, investing $25 million in expanding the Agrivalue Processing Business Incubator in Leduc and by investing $0.7 million in fibre and plant based protein processing facilities in Vegreville.
Alberta’s government will also work to provide targeted trade services that will enhance the sector’s export abilities and expand access to international markets.
Alberta’s Recovery Plan is a bold, ambitious long-term strategy to build, diversify, and create tens of thousands of jobs now. By building schools, roads and other core infrastructure we are benefiting our communities. Alberta came together to save lives by flattening the curve and now we must do the same to save livelihoods, grow and thrive.
“Supporting technology startups will help keep Alberta’s agriculture and agri-food sector on the cutting edge of innovation, while creating jobs. Our farmers and food businesses are leading our country on the road to recovery, and our government will continue to invest in them to help them grow and succeed.”
- Marie-Claude Bibeau, Minister of Agriculture and Agri-Food
“Agriculture in Alberta will lead our economic recovery in Alberta. Alberta’s farmers, ranchers and processors are global leaders in innovation making Alberta the best place in the world to invest. Together, Olds College, SVG Ventures and strategic investors like the Agriculture Financial Services Corporation will deliver on projects that will support Alberta entrepreneurs and strengthen our supply chain."
- Devin Dreeshen, Minister of Agriculture and Forestry
“We’ve had a banner year but we’re just starting to scratch the surface on our potential to grow our agricultural sector. Smart investments and partnerships like the one we’ve made with Olds College and THRIVE will allow us to be leaders in agri-tech. Being a leader in agricultural innovation will create high-paying jobs here in Alberta."
- Doug Schweitzer, Minister of Jobs, Economy and Innovation
“We are delighted to expand our SVG|THRIVE Innovation and Investment Platform to Alberta and announce our THRIVE Canada Challenge Program in partnership with Farm Credit Canada and Olds College. These partnerships exemplify our focus on global entrepreneurs and continued commitment to solving the critical challenges facing the global agri-food sector.”
- John Hartnett, chief executive officer and founder, SVG Ventures|THRIVE
“The Olds College Smart Farm is focused on building and supporting a broad-based agriculture innovation ecosystem that connects researchers, technology companies, producers, manufacturers, retailers and learners to accelerate the development and adoption of technology and practice, and enhance the economic impact of Canada’s agriculture sector. Olds College’s collaboration with SVG Ventures strengthens Alberta’s platform to support early-stage companies by connecting with SVG’s global network of entrepreneurs and corporate clients that are looking to invest in the agriculture sector here in Canada.”
- Stuart Cullum, president, Olds College
Between 2015 and 2018, value-added processing gross domestic product (GDP) grew by 14 per cent, reaching $3.5 billion, while sales reached $15.5 billion – a 17 per cent increase. These growth rates amounted to more than four times the growth rates in GDP and more than twice the sales values of the rest of Alberta’s manufacturing industries combined.
Olds College and SVG Ventures have signed a memorandum of understanding to support THRIVE’s startup program.
SVG|THRIVE is a leading global AgriFood investment and innovation platform headquartered in Silicon Valley, Calif. The THRIVE platform invests, accelerates and creates access for entrepreneurs to scale globally and solve the biggest challenges facing the food and agriculture industries.
- THRIVE was awarded the 2010 AgFunder AgriFood Tech Innovation Award for “Most Valuable AgriFood Tech Accelerator Program.”
The Canadian Agricultural Partnership is a five-year, $3-billion investment by federal, provincial and territorial governments, with the aim of strengthening the agriculture, agri-food and agri-based products sector, ensuring continued innovation, growth and prosperity.
Office of the Minister of Agriculture and Agri-Food
Agriculture and Agri-Food Canada
Follow us on Twitter: @AAFC_Canada
Like us on Facebook: CanadianAgriculture
Junior Press Secretary
Agriculture and Forestry
Jobs, Economy and Innovation
Chief Operating Officer
Report a problem or mistake on this page
- Date modified: