The University of Alberta is partnering with a leading Silicon Valley firm to support innovation growth in Alberta’s agriculture and food sectors.
An agreement with SVG Ventures|THRIVE, a venture capital firm investing in agricultural technology startups and supporting corporations with open innovation, powers the U of A to accelerate its development and adoption of technology-driven solutions that support the agri-food sectors in Alberta and beyond.
“This partnership leverages the ingenuity and talent of U of A researchers to strengthen Alberta’s innovation ecosystem,” says Aminah Robinson Fayek, vice-president (research and innovation).
“Our researchers are pursuing new ideas and technologies to help make the agriculture and food sectors more sustainable and profitable. Working with THRIVE will accelerate these innovations coming out of the U of A, connect emerging businesses with funding and support, and get new ventures into the market.”
The U of A and THRIVE will work together to support the U of A’s startup and applied research community while building competitiveness across Alberta’s agriculture and food industries through effective adoption of technology.
“The partnership supports our researchers as they generate new technologies that will increase revenues and decrease costs in the agriculture and food sectors,” says Stan Blade, dean of the Faculty of Agricultural, Life & Environmental Sciences (ALES).
THRIVE’s demonstrated expertise working globally with partners to advance agtech innovation gives researchers and their innovative work an effective pathway to further development and commercialization, he notes.
“ALES has a legacy of turning our portfolio of research into commercial opportunities such as Forge Hydrocarbons, and THRIVE gives us a way to do that in a more intentional way. It will really open up new opportunities for us.”
The partnership will assist U of A researchers, entrepreneurs and early-stage companies in commercializing their promising innovations, through THRIVE’s Studio and Academy programs designed to test and validate ideas while building go-to-market strategies. THRIVE’s Accelerator program then offers potential funding as well as other resources to help build market strategy and connect globally with customers and investors.