Federal funding announced for Saskatchewan area businesses
by CM Staff
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.
SASKATOON — On Jun. 29, 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 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.
“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.” said 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.” said Roshan Thomas, CEO and Founder, Biktrix Enterprises Inc.