Over $6.3 million through PrairiesCan to support businesses in Saskatchewan
SASKATOON, SK, 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 is driven by new technologies that help meet the needs of Canadians and the world. Our government is supporting the success of Saskatchewan’s businesses and communities as they move towards net-zero emissions through a strategy of targeted investments based on local priorities.
Local priorities were identified by local partners, governments, and organizations through an extensive consultation, and are articulated in our Framework to Build a Green Prairie Economy.
Today the Honourable Dan Vandal, Minister for PrairiesCan, announced a federal investment of over $6.3 million for nine projects to help Saskatchewan businesses access the tools and resources needed to start up, scale-up, and bring innovative products and services to new markets.
Non-repayable investments in the ecosystems supporting new businesses in Saskatchewan will help start-ups, including Indigenous businesses, navigate the first steps in establishing and growing their business. Repayable investments in high-growth businesses will help them scale-up and expand with new services, products and market reach, aiding in their future success and creating more good jobs. Examples of projects receiving support include:
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Andgo Systems Inc. is receiving over $2 million to scale up operations and sales of their workforce management software platform.
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Indigenous Manufacturing and Contracting Network Inc. is receiving $160,000 to provide training and mentorship opportunities for Indigenous companies in the manufacturing and contracting sectors.
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Saskarc Inc. is receiving over $1 million to purchase automated processing equipment to increase its structural stick steel fabrication capacity.
Quotes
“Our government is investing in business ecosystems and high-growth businesses to ensure that they have the support they need to succeed in Canada and the global market. The result of today’s investments in companies and organizations that support business will help improve productivity, grow and diversify labour markets in Saskatchewan, and build a prosperous green Prairie economy.”
–The Honourable Dan Vandal, Minister for PrairiesCan
“The support from PrairiesCan has helped move us into a new era of growth, enabling us to vastly expand our market presence across the U.S. and supercharge our go-to-market teams. With this strategic support, we are poised to rapidly scale our customer base, and continue revolutionizing staffing solutions to meet the dynamic needs of healthcare providers throughout North America.”
–Tom Ross CEO Andgo Systems
“Saskarc Inc. is appreciative of the funding support from PrairiesCan, which enabled Saskarc to invest in automated steel processing equipment at our manufacturing facility in Oxbow, Saskatchewan. This investment allowed Saskarc to quickly scale-up through increasing throughput and competitiveness and has helped Saskarc compete across Canada and the United States in the Infrastructure market.”
–Danielle Armstrong, Director of Marketing and Communications, Saskarc Inc.
“These strategic investments by PrairiesCan are a powerful testament to the potential within Saskatchewan’s regional economic ecosystems. The non-repayable funds under the CEDD and RIE programs will significantly boost economic opportunities for Indigenous communities, fostering innovation and sustainable growth. We are also encouraged by the support through the BSP program, which empowers businesses to scale up and enhance productivity. The Indigenous Manufacturing and Contracting Network (IMCN) is proud to be part of this transformative journey that will uplift our communities and create lasting impact.”
–Nick Crighton, Executive Director, Indigenous Manufacturing and Contracting Network Inc.
Quick facts
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PrairiesCan is investing over $6.3 million today in Saskatchewan through three different programs to support nine different businesses and organizations.
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Investments announced today under the Community Economic Development and Diversification (CEDD) program and Regional Innovation Ecosystems (RIE) program are non-repayable, and will support regional economic ecosystems, including Indigenous communities.
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Repayable funds announced today support businesses under the Business Scale-up and Productivity (BSP) program.
Backgrounder
PrairiesCan is investing $6,336,624 million for nine projects in Saskatchewan. These investments in the Saskatchewan economy support digital technology, innovation, and business growth through repayable funding direct to business, and targeted initiatives for business organizations which are non-repayable.
Non-Repayable Program Funding
Investments announced today under the Community Economic Development and Diversification (CEDD) program and Regional Innovation Ecosystems (RIE) program are non-repayable, and will support regional economic ecosystems, including Indigenous communities. The CEDD program contributes to the economic growth and diversification of communities across the Prairie provinces. Through this program, PrairiesCan enables communities to leverage their capacity and strengths to respond to economic development opportunities and adjust to changing and challenging economic circumstances. The RIE program helps create, grow, and nurture inclusive regional ecosystems that support what business needs to innovate from start to finish. Through RIE, targeted investments in not-for-profit organizations support businesses in priority sectors to innovate, grow and compete globally. RIE also promotes inclusive growth by helping under-represented groups more fully participate in the innovation economy.
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Indigenous Manufacturing and Contracting Network Inc. ($160,000)
Provide training and mentorship opportunities for Indigenous companies and assist Indigenous SMEs with business development in the manufacturing and contracting sectors. -
Conexus Credit Union 2006 (Conexus) ($75,000)
Cultivator powered by Conexus will host the Startup Summit in 2023, 2024, and 2025 in Regina, Saskatchewan, fostering a vibrant ecosystem for founders, investors and mentors that will provide founders with the tactical insights and connections to scale-up. -
University of Regina ($35,000)
Facilitate the Graduate Advanced Training and Entrepreneurship (GATE) Centre’s Startup 101 Bootcamp in 2023/24 and 2024/25 introducing U of R students, postdocs, and faculty to the world of entrepreneurship through connections with the start-up community.
Repayable Program Funding
Through the Business Scale-up and Productivity (BSP) program, the Government of Canada supports high-growth businesses seeking to improve productivity, scale-up and commercialize technology. BSP offers interest-free, repayable funding to incorporated high-growth businesses that have been operating in the Prairie provinces for a minimum of two years. The following repayable BSP funding was announced today by PrairiesCan:
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Andgo Systems Inc. ($2,100,491)
Support scale up operations and sales of Andgo’s workforce management software platform that allows large employer enterprises to optimize staffing levels, improve efficiency, and enhance employee satisfaction. -
Saskarc Inc. ($1,134,133)
Purchase automated processing equipment to increase its structural stick steel fabrication capacity. Structural stick steel is used in large infrastructure projects like airports, bridges, and high-rise buildings. -
Dasro Consulting Inc. ($882,000)
Establish a new cloud-based digital recruitment platform that will help employers in need of specialized IT or engineering professionals hire and manage qualified candidates based on their schedules and preferences, and support Dasro’s international market expansion. -
DynaIndustrial GP Inc., general partner of DynaIndustrial LP ($850,000)
Purchase, install, and commission equipment to streamline the manufacturing process of their steel segment rolls and increase overall manufacturing capacity. -
QuickLinkt Solutions Inc. ($600,000)
Expand market reach for a digital management platform into the US by hiring sales, marketing, engineering, and support staff. The proprietary platform integrates and executes various engagement and administrative tasks associated with sports leagues, teams, and tournaments including registration, payments, scheduling, notifications, attendance, and streamlines communications. -
Cubbi Technologies Inc. ($500,000)
Increase 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 Prairies Economic Development Canada
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