Innovation Saskatchewan has announced a new $1 million AgTech Growth Fund. The fund is the first program dedicated to accelerating the development of game-changing agricultural technologies in Saskatchewan, and is one of several additional supports for the tech sector announced for the 2020-2021 budget, according to a press release.
The fund is open and accepting applications.
The fund will drive private investment in “transformative farming” and help in attracting international ag tech companies.
“Saskatchewan farmers feed the world and the AgTech Growth Fund will create new innovations and jobs in our province,” says Tina Beaudry-Mellor, minister responsible for Innovation Saskatchewan. “Growing our ag economy is a key part of Saskatchewan’s Growth Plan, and by providing solutions in ag tech, we add value to our rural communities, increase our sustainability and strengthen this province’s global leadership in food production and farming excellence.”
Agriculture minister David Marit says that “Saskatchewan is already an agriculture research hub and investing in farm equipment technology will complement our investments in crop breeding and production to bring us closer to achieving our Growth Plan goals.”
The AgTech Growth Fund replaces and increases funding that was previously available for farm-centric technology through the Saskatchewan Advantage Innovation Fund.
Saskatchewan’s tech sector contributes $4.7 billion per year to its provincial economy.
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