By rdnewsNOW staff

ecosystems innovation

Feds invest $1.9M in Olds College Smart Farm

Aug 14, 2019 | 11:23 AM

The federal government is giving over $1.9 million in Regional Innovation Ecosystems (RIE) funding towards Olds College to bolster Alberta’s agriculture industry.

The investment will support Phase Two of the Olds College Smart Farm (OCSF), a living lab for the development, testing, validation, and scale-up of agricultural technologies.

OCSF will use the federal funding to buy and install agricultural equipment and advanced sensor technologies, as well as recruit agricultural and technical specialists to direct Smart Farm activities and use of data. The equipment and technologies will generate information and data to benefit farm operations, support research, and provide high tech, hands-on learning for faculty and students.

The investment in the Olds College Smart Farm is anticipated to create 20 jobs, generate $2.5 million in business research and development (BERD), and assist agriculture companies to achieve $90 million in revenue growth and $27 million in export sales growth.

“Through these investments in Olds College, agriculture producers across Western Canada will be better equipped to address increasing consumer demands by harnessing new technologies and innovations,” says Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada.

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Olds College is also receiving $10,000 to host the 2019 AgSmart event (Aug. 13-14), which brings together technology providers with farmers, students, and academics to learn more about how technology and data applications increase productivity and profits, while reducing environmental impact.

(With file from Government of Canada media release)