Olds college receives largest donation ever from Canadian entrepreneur
By CNW Group
Canadian entrepreneur, oilfield industry leader and dedicated philanthropist, David P. Werklund and his partner Susan Norman, have gifted Olds College with $16 million, the largest personal donation to an Alberta college or technical institution.
The tiered donation will have a total cumulative impact of $32 million when all leverage opportunities can be realized. Werklund's donation begins with $2 million in cash, supplemented by a matching component where Werklund 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. The donation is designed to incent maximum participation and donations from other individuals, industry and governments. Werklund credits his success in business, strong work ethic and core values with his upbringing on a rural Alberta farm.
This transformational gift will result in the creation of the Werklund Agriculture Institute (WAI) and will specialize in Smart Agriculture. With a vision to be the world's premier destination for an integrated agricultural leadership learning experience, the WAI will engage students, researchers and industry in smart and sustainable agriculture and agri-business solutions, leadership and education to contribute to Western Canada's leadership position as an agriculture and food powerhouse.
Two additional donations were announced at the Olds College Gala on March 24. The Students' Association of Olds College and the Olds College Alumni Association have each committed $1.25 million toward the Beyond campaign, to kick off the matching component of the Werklund donation.
The Werklund Agriculture Institute will feature four key components:
- Werklund Growth Centre – will provide a Hub for companies, entrepreneurs, investors and students to access Olds College land and facilities for development, scale up and demonstration of Smart Agriculture technologies, products and services.
- Thought Leader in Smart Agriculture and Sustainability – a unique, fully endowed industry leader to serve as a connector, and advisor on smart agriculture technology, innovation and business for accelerating company growth and access to capital.
- A Producer Mentor Program - a year-long partnership with Producers and Agriculture industry leaders, exposing students to Smart Agriculture practices.
- Olds College Agriculture and Food Enterprise – a vertically integrated "gate to plate" agriculture and food learning enterprise where students engage in business decision making and management.