More than $6.3 million to support Saskatchewan businesses through PrairiesCan
SASKATOON, Saskatchewan, Aug. 28, 2024 /CNW/ – Saskatchewan's economy is diverse and growing across multiple sectors. It is built on a strong entrepreneurial culture that fosters Indigenous economic reconciliation and driven by new technologies that help meet the needs of Canadians and the world. Through a targeted investment strategy based on local priorities, our government is supporting Saskatchewan businesses and communities to succeed as they move toward net-zero emissions.
Minister Vandal announces investments in technology and innovation in Saskatchewan (CNW Group/Prairies Economic Development Canada)
Regional priorities were identified through extensive consultation with regional partners, governments and organisations and are articulated in the Framework for Building a Green Grassland Economy.
Today, the Honorable Dan Vandal, Minister of PrairieCan Affairs, announced federal investments of more than $6.3 million in nine projects that will help Saskatchewan businesses access the tools and resources they need to start up, expand and bring innovative products and services to new markets.
Non-repayable investments in Saskatchewan's start-up ecosystem help emerging companies, including Indigenous businesses, take the first steps to launch and grow their businesses. Repayable investments in high-growth companies help them scale and expand by expanding into new services, products and markets, helping them succeed in the future and creating more quality jobs. Examples of projects receiving support include:
Andgo Systems Inc. is raising more than $2 million to expand operations and sales of its human capital management software platform.
Indigenous Manufacturing and Contracting Network Inc. has received $160,000 to provide training and mentoring opportunities to Indigenous businesses in the manufacturing and contracting sectors.
Saskarc Inc. has received more than $1 million to purchase automated processing equipment to increase its manufacturing capacity for structural steel bars.
Citation
“My government is investing in our business ecosystem and fast-growing companies to ensure they have the support they need to succeed in Canadian and global markets. The results of today's investments in companies and organizations that support business will help increase productivity, expand and diversify Saskatchewan's labour market, and build a thriving, green Prairie economy.”
– Minister Dan Vandal (Prairie Affairs)
“PrairiesCan's support has enabled us to move into a new era of growth, significantly expand our market presence across the United States and strengthen our go-to-market team. With this strategic support, we are well-positioned to rapidly expand our client base and continue to innovate staffing solutions to meet the dynamic needs of healthcare providers across North America.”
–Tom Ross, CEO, Andgo Systems
The story continues
“Saskarc Inc. is grateful for the financial support from PrairiesCan, which has enabled Saskarc to invest in automated steel processing equipment at its manufacturing facility in Oxbow, Saskatchewan. This investment has enabled Saskarc to rapidly scale with increased processing capacity and competitive advantage, allowing us to compete in infrastructure markets in Canada and the United States.”
–Daniel Armstrong, Director of Marketing and Communications, Saskarc Inc.
“These strategic investments by PrairiesCan are powerful evidence of the potential of Saskatchewan's local economic ecosystems. The non-repayable funding from the CEDD and RIE programs will significantly boost economic opportunity for Indigenous communities and foster innovation and sustainable growth. We are also encouraged by the support from the BSP program to help businesses scale and become more productive. The Indigenous Manufacturing Contracting Network (IMCN) is proud to be part of this transformational journey that will uplift our communities and make a lasting impact.”
– Nick Crichton, Executive Director, Indigenous Manufacturing and Contracting Network Inc.
Quick Facts
PrairiesCan has now invested more than $6.3 million in Saskatchewan across three different programs, supporting nine businesses and organizations.
The investments announced today under the Community Economic Development and Diversification (CEDD) and Regional Innovation Ecosystems (RIE) programs do not require repayment and will support local economic ecosystems, including Indigenous communities.
The repayable funds announced today will support businesses under the Business Scale Up and Productivity Enhancement (BSP) Programme.
Background information
PrairiesCan is investing $6,336,624,000 in nine projects in Saskatchewan. These investments in Saskatchewan's economy support digital technology, innovation and business growth through direct repayable funding to businesses and initiatives targeted to business organizations that do not require repayment.
Non-repayable program funds
The investments announced today under the Community Economic Development and Diversification (CEDD) and Regional Innovation Ecosystems (RIE) programs do not require repayment and will support local economic ecosystems, including Indigenous communities. The CEDD program contributes to the economic growth and diversification of communities throughout the Prairie Provinces. Through the program, PrairiesCan empowers communities to leverage their capabilities and strengths to respond to economic development opportunities and adapt to changing and challenging economic conditions. The RIE program helps create, grow and nurture inclusive regional ecosystems that support what businesses need to innovate from start to finish. Through RIE, targeted investments in nonprofits support businesses in priority sectors to innovate, grow and compete globally. RIE also promotes inclusive growth by helping underrepresented groups to fully participate in the innovation economy.
Indigenous Manufacturing and Contracting Network, Inc. ($160,000)
It provides training and mentorship opportunities for Indigenous businesses and supports business development for Indigenous small and medium-sized enterprises in the manufacturing and contracting sectors.
Conexus Credit Union 2006 (Conexus) ($75,000)
Cultivator, powered by Conexus, will host startup summits in Regina, Saskatchewan in 2023, 2024 and 2025 to foster a vibrant ecosystem for founders, investors and mentors, providing founders with tactical insights and connections for scaling.
University of Regina ($35,000)
In 2023/24 and 2024/25, we will facilitate the Graduate Advanced Training and Entrepreneurship (GATE) Center’s Startup 101 Bootcamp, introducing U of R students, postdocs and faculty to the world of entrepreneurship through connections to the startup community.
Repayable Program Funds
The Government of Canada supports fast-growth companies looking to improve productivity, scale up and commercialize their technologies through the Business Scale-up and Productivity (BSP) program. BSP provides interest-free, repayable funding to incorporated fast-growth companies that have been operating in the Prairie Provinces for a minimum of two years. PrairiesCan today announced the next round of repayable BSP funding:
Andgo Systems, Inc. ($2,100,491)
Support the expansion of operations and sales of Andgo's workforce management software platform, which enables large employers to optimize staffing levels, improve efficiency and increase employee satisfaction.
Saskatchewan Inc. ($1,134,133)
The company will purchase automated processing equipment to increase its manufacturing capacity for structural steel bars, which are used in large infrastructure projects such as airports, bridges and high-rise buildings.
Dasro Consulting Co., Ltd. ($882,000)
It will establish a new cloud-based digital recruiting platform that will help employers in need of specialized IT or engineering professionals hire and manage qualified candidates based on their schedules and preferences, supporting Dasro's international market expansion.
DynaIndustrial GP Inc., general partner of DynaIndustrial LP ($850,000)
Purchase, install and commission equipment to streamline steel segment roll manufacturing process and increase overall manufacturing capacity.
QuickLink Solutions, Inc. ($600,000)
The company will hire sales, marketing, engineering and support staff to expand the market reach of its digital management platform to the U.S. The proprietary platform unifies and executes a variety of engagement and administrative tasks related to sports leagues, teams and tournaments, including registration, payments, scheduling, notifications, attendance and streamlined communications.
Cubbi Technologies Inc. ($500,000)
Strengthen operations and marketing to pursue new market opportunities for food delivery in Saskatoon, Calgary and Regina. Cubbi provides food delivery services to businesses and their employees using specialized refrigeration systems and an online mobile application.
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Source: Prairie Economic Development Canada
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