Alberta Innovates, PrairesCan, and SVG Ventures|THRIVE
Launch $3-million Tech Pre-Accelerator
OLDS, ALBERTA, August 10, 2022 – SVG Ventures|THRIVE (THRIVE), in partnership with Alberta Innovates, and PrairiesCan is announcing the start of THRIVE Academy and THRIVE Venture Studio, supporting entrepreneurs, researchers, innovators, early-stage startups and spin-outs in the agri-food technology sector.
THRIVE Academy offers hands-on training and access to testing sites such as the Olds College Smart Farm and other applied research opportunities to validate early-stage ideas. The program kicks off this September with the first cohort of 15 participants. The program will alternate between sites across Alberta over the course of the three-year funding.
Alongside THRIVE Academy, SVG Ventures is set to launch THRIVE Venture Studio. This unique venture builder model will focus on forming new companies in response to some of the most pressing issues across the agri-food value chain. SVG Ventures|THRIVE will leverage its strong relationships with farmers and industry to identify these opportunities, source founding teams and make seed investments in these agri-tech companies. THRIVE is currently accepting applications for this program.
Enabling THRIVE to establish THRIVE Academy and THRIVE Venture Studio is an investment of $3 million from Alberta Innovates. A further $700,000 in federal funding was awarded to Olds College through PrairiesCan to support THRIVE Academy in western Canada. The continuum of services offered by SVG Ventures provides end-to-end commercialization support for Alberta agri-food companies.
THRIVE Academy and THRIVE Venture Studio are a collaboration between Alberta Innovates, the Alberta Ministry of Jobs, Economy and Innovation, Prairies Economic Development Canada (PrairiesCan), Olds College, and SVG Ventures|THRIVE. This partnership is part of Scaleup GAP managed by Alberta Innovates.
“Agri-food technologies have tremendous potential to increase to the competitiveness of Alberta’s agricultural sector while creating high quality jobs. Our government’s support for the Thrive Academy at Olds College will help Alberta startups to attract investment, scale up ideas, and establish themselves as leaders in this dynamic sector of our economy that is so important to rural areas.”
The Honorable Daniel Vandal, Minister for PrairiesCan
“Entrepreneurs and startups drive innovation and contribute to the vibrancy and economic well-being of Alberta. Our government believes in collaborating with industry and academic institutions to help early-stage businesses access the tools and training they need to develop and grow.”
George Chahal, Member of Parliament, Calgary Skyview
“Entrepreneurs, innovators, and start-up businesses need guidance, training, and coaching to grow. The investment we make today, together with companies like THRIVE, will deliver benefits for the whole province as local agri-food ventures gain scale. When these early ventures succeed, Alberta’s entire innovation system improves and that’s the objective of our scaleup and growth accelerator program.”
Laura Kilcrease, CEO, Alberta Innovates
“Our goal with the THRIVE Studio is to leverage IP, research, technology and entrepreneurial thinking to solve some of the most pressing issues we see across the agriculture industry, while building successful businesses in the process. By adding the THRIVE Studio and Academy to our program suite we can holistically support entrepreneurs through the entire start-up lifecycle.”
John Cassidy, Managing Director Canada, SVG Ventures|THRIVE
About SVG Ventures | THRIVE
SVG Ventures | THRIVE is the leading global agrifood investment and innovation platform headquartered in Silicon Valley, and comprised of top agriculture, food & technology corporations, universities, and investors. With a community of over 6,000 startups from 100 countries, the THRIVE platform invests, accelerates, and creates unparalleled access for entrepreneurs to scale globally to solve the biggest challenges facing the food and agriculture industries. SVG’s global partners include Media Partner Forbes and leading government, agriculture, and technology corporations such as Corteva, Driscoll’s, FCC, Kubota, Land O’Lakes, Trimble, Taylor Farms, Bayer, ICL, Nutrien, Intel, Valmont, UFA, Yamaha Motor Ventures, BASF, Koch, Shell and Wilbur-Ellis. Learn more at www.thriveagrifood.com.
Alberta Innovates invests in research, innovation and entrepreneurship to drive provincial economic growth and diversity. We ignite the power of innovation through our work with researchers, industry and entrepreneurs to move Alberta to a lower-carbon future, promote the responsible use of land and water, and contribute to the improved health and well-being of Albertans. Alberta Innovates provides technical expertise, entrepreneurial advice and support, opportunities for partnerships, and funding to advance the best ideas. We support a broad range of research and innovation activity – from discovery to use. Collaboration is at the heart of what we do – bringing together bright minds and great ideas.
Learn how Alberta Innovates at albertainnovates.ca
PrairiesCan is the federal department that supports economic growth in Alberta, Saskatchewan and Manitoba. Its programs and services help businesses, not-for-profits and communities grow stronger. Its mandate is to support economic growth and diversification in the Prairie provinces and advance the interests of the region in national economic policy, programs and projects. Learn more at prairiescan.gc.ca
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