Minister Vandal announces federal funding to help Saskatchewan businesses innovate and grow

News release

Almost $26 million for growth and innovation in Saskatchewan

Federal funding of almost $26 million through PrairiesCan will advance new technologies, help grow businesses and create jobs

June 29, 2022 – Saskatoon, Saskatchewan – Prairies Economic Development Canada (PrairiesCan)

Saskatchewan businesses are significant contributions in all sectors of the economy, both locally and on a global scale. The Government of Canada celebrates the innovation and hard work of Saskatchewan enterprises, and is proud to assist them flourish and succeed.

Today, the Honourable Daniel Vandal, Minister for PrairiesCan, announced a federal investment of almost $26 million to help 11 innovative businesses across Saskatchewan access the resources needed to expand, improve operations, and create good paying jobs for Canadians. These organizations impact many industries in Saskatchewan, including advanced manufacturing, digital technology, agriculture and agri-food production, and health and safety.

Projects funded today are supported under the Business Scale-up and Productivity (BSP) stream of the Regional Economic Growth through Innovation (REGI) program, and the Jobs and Growth Fund (JGF). Both programs are delivered on the Prairies by PrairiesCan.

The total federal investment of $25,933,033 supports the Saskatchewan economy and is expected to create over 500 jobs, of which more than half will be for highly qualified personnel. This work is expected to result in over $470 million in revenue growth, including over $290 million in export sales.

Quotes

“To succeed in the new global economy businesses need to commercialize their cutting-edge products and services to accelerate growth and create new markets. When those promising businesses need that extra help to achieve success, our government will be there to help. Saskatchewan’s economy is strong, and the businesses supported today are just a few examples of what makes Saskatchewan a great place to invest, do business, and grow.”
– The Honourable Daniel Vandal, Minister for PrairiesCan

“Saskatchewan is a great place to live and work. Biktrix is thankful to our government for helping us scale our business by investing in us. PrairiesCan investment will help Biktrix catapult our growth by hiring more qualified staff and generating more economic impact through local and export sales.”
– Roshan Thomas, CEO and Founder, Biktrix Enterprises Inc.

"Coconut Software helps financial institutions make it easier for their customers and members to access services. Coconut is proud to partner with PrairiesCan to provide our solutions to even more communities and continue on our mission of making banking easier for everyone. With the help of the JGF funding, we'll be able to accelerate export sales, expand our team across Canada, and drive economic growth.”
– Matt Petrow, CFO, Coconut Software Corporation

Quick facts

  • PrairiesCan is the department that diversifies the economy across the Canadian Prairies. PrairiesCan leads in building a strong, competitive Canadian economy by supporting business, innovation and community economic development unique to Alberta, Saskatchewan and Manitoba.

  • The Business Scale-up and Productivity program supports high-growth businesses that are scaling up and producing innovative goods, services, or technologies. Funding is interest-free and repayable.

  • The Jobs and Growth Fund helps job creators and the organizations that support them future-proof their businesses, build resiliency, and prepare for growth. Funding is interest-free and repayable.

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Contacts

Kyle Allen
Press Secretary
Office of the Minister of Northern Affairs, Minister for PrairiesCan, and Minister responsible for the Canadian Northern Economic Development Agency
kyle.allen@rcaanc-cirnac.gc.ca

Craig Henry
Communications Manager
Prairies Economic Development Canada
craig.henry@prairiescan.gc.ca

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