Werklund gives Olds College $16M for ‘smart agriculture’
A $16-million gift to Olds College from a well-known Alberta businessman represents the largestever personal donation to a college or technical institute in the province’s history.
The donation — from entrepreneur and oilfield industry leader David Werklund and his partner Susan Norman — will be used to create the Werklund Agriculture Institute, which aims to become the world’s premier destination for students, researchers and industry leaders interested in smart and sustainable agriculture and agribusiness solutions.
Werklund, the founder of Tervita Corporation and Werklund Capital, said he has been mulling the idea of doing something to support rural young people and agriculture education for some time.
“I had the good fortune of being raised on a farm, and the lessons I learned gave me a tremendous advantage, I feel,” Werklund said in an interview. “Also, my grandmother, my mother and my sister are all former schoolteachers, so I was continually reminded of the importance of education.”’
Tom Thompson, president of the 104-year-old Olds College, said the focus of the new Werklund Agriculture Institute will be on “smart agriculture,” meaning the use of technology and science to increase the quality and quantity of agricultural production.
“By using big data, by using state of the art technology, by using ‘the Internet of Things,’ what you can do is develop a brand new way of looking at climate-smart agriculture that is economically feasible and profitable, but also environmentally sound,” Thompson said. “At the bottom line of it all is a safe, secure, high quality food system.”
Thompson added the donors believe, as does Olds College, that innovation and technology adoption within the agriculture and food industry will lead to greater economic diversification in Alberta.
“They (Werklund and Norman) understand it is not a sprint, it’s a marathon, ” he said. “But I think most importantly they also realize that economic diversification is going to require future leaders — people who have actually developed these skill sets and these abilities — and this is where we’re trying to take a stab at it.”
Werklund’s donation will begin with $2 million in cash, supplemented by a matching component where he will provide one dollar for every three raised, up to $4 million. The final element is a $10 million estate gift that will ensure the sustainability of the institute over time.