A fresh $50 million in federal funding will allow the Canadian Agri-Food Automation and Intelligence Network to fund new technology projects and expand its smart farm network, the government announced on Thursday.
CAAIN is a not-for-profit company with created in 2019 funding from the Government of Canada. It funds development and adoption of productivity-boosting agricultural innovation.
The $50 million renewed federal funding for CAAIN after six years of operation, the organization said in an Aug. 26 news release.
WHY IT MATTERS: The Canadian equipment manufacturing sector’s productivity growth has stagnated in recent years, which could make it harder for homegrown innovations to make it to farmers according to analysis from Farm Credit Canada.
CAAIN will continue to focus on funding the development and adoption of innovation that increases the productivity, profitability, and/or sustainability of Canada’s agricultural producers, a federal release said.
“In the six years since ISED (Innovation, Science and Economic Development Canada) first placed its trust in CAAIN’s mission to seek out and support innovation that will make Canada’s agricultural sector more profitable, productive, and sustainable CAAIN has catalyzed more than $133 million of capital with industry partners to innovatively produce real world agricultural outcomes,” said Laura Kilcrease, board chair for CAAIN.
Of the 30 projects to have completed their CAAIN funding cycle, a number have successfully gone to market.
CAAIN’s network has grown to more than 1,100 members. It has invested $36 million in 51 projects, supported 885 jobs, generated more than 100 intellectual property assets and attracted more than $500 million in private follow–on investment, the federal news release said.
Click here to see more...