Saskatoon Ideas Inc. can follow through with their planning and creation of an economic incubator for the Saskatoon/Outlook regions thanks to an investment from the Government of Canada.
The announcement was made today in Saskatoon by Kelly Block, Member of Parliament for Saskatoon – Rosetown – Biggar on behalf of the Honourable Lynne Yelich, Minister of State for Western Economic Diversification.
“Saskatoon Ideas has already had great success within the local business community, and our Government’s investment will help ensure that they can develop even more opportunities,” said MP Block.
WD funding will go toward hiring a consultant to conduct a market assessment and develop a business incubation model and business plan for the Saskatoon/Outlook regions. This business incubator will act as a support system to offer advisory and mentorship expertise to encourage and support entrepreneurship in this region. The resulting business incubation model should also be transferrable to economic regions throughout the province of Saskatchewan.
Federal funding of $34,000 dollars is provided through Western Economic Diversification Canada under the Western Diversification Program.
“A unique partnership with the Whitecap Dakota First Nation and the MidSask Enterprise Region will enable us to develop a regional business incubation system to support entrepreneurs across a number of sectors and encompassed within an urban, rural and First Nations reserve economic region. ,” said Melanie Stroh, Chair of the Ideas Inc. Board of Directors. “The project will also provide an easily replicated incubation model for economic regions throughout the province”.
“Our Dakota Dunes Resort development with its 1 million visitors annually and its purchases of millions of dollars of goods and services presents many business development opportunities, “ said Darrell Balkwill, Whitecap Development Corporation CEO. “The support of a business incubation program would help foster the development of these opportunities and improve their long term success.”
“Mid Sask Community Futures looks forward to an exciting partnership with the Ideas Inc Business Incubator and Whitecap Dakota First Nation in building a much more responsive support network for emerging businesses,” said Bill Matlock, Chair of Mid Sask CFDC. “The experience and the scope of the Ideas Inc network, coupled with the “new rural” approach of the other partners will create a fertile growth medium for entrepreneurs.”
Saskatoon Ideas Inc. is a business incubator – a support mechanism that offers advisory and mentorship expertise to encourage and support entrepreneurship. As a non-profit organization developed and operated by Saskatoon’s business community, Ideas Inc. works directly with stakeholders in the community to ensure that its programs and services meet the need of local entrepreneurs.
Western Economic Diversification Canada works with the provinces, industry associations and communities to promote the development and diversification of the western economy, coordinates federal economic activities in the West and represents the interests of western Canadians in national decision making.
For additional information, contact:
Joanne Mysak
Manager, Communications
Western Economic Diversification Canada
Phone: (306) 975-5942
Phyllis Lodoen
Ideas Inc.
Phone: (306) 653-2002
Russ McPherson
Mid Sask Enterprise Region
Phone: (306) 867-4097
Darrel Balkwill
Whitecap Development Corp.
(306) 477-0908
