The Government of Alberta announced Tuesday a $200,000 Canadian Agriculture Partnership between Olds College, the provincial government, and Silicon Valley-based SVG Ventures.

Their THRIVE Canada accelerator and startup program focuses on technology-driven solutions to support the agriculture and food sectors.

“Alberta’s farmers, ranchers, and processors are global leaders in innovation making Alberta the best place in the world to invest,” says Agriculture and Forestry Minister Devin Dreeshen. “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.”

They will provide guidance on high-value cluster opportunities, support startups, increase Alberta’s exposure to domestic and international markets, and strengthen supply chains with industry-supported technology.

“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,” says SVG Ventres CEO John Hartnett. “These partnerships exemplify our focus on global entrepreneurs and continued commitment to solving the critical challenges facing the global agri-food sector.”

Minister of Jobs, Economy, and Innovation Doug Schweitzer called the partnership, “Silicon Valley meets Olds College meets rural Alberta meets farming,” adding that he is excited to see what could lie ahead.

Several records are set to be broken this year in the agriculture sector including crop yields, livestock market sales, and products in food processing.

READ MORE: Agriculture leading Alberta’s economic recovery, several records to be broken this year

The partnership is part of the province’s sector-specific strategy for agriculture in Alberta. More announcements are expected to be made in the coming days and weeks.

The overall goal is to bolster economic activity with a private investment attraction target of $1.4-billion.