Saskatoon’s tech industry shines bright! The sector is rapidly growing with many successful startups adding to this thriving industry. It is estimated the tech sector has added approximately $4.7 billion in GDP to the provincial economy, making up 5.6% of total provincial Real GDP. In the first half of 2021, more than $150 million in venture capital was invested in Saskatchewan tech companies.
Tech start-ups can find a home at Co.Labs, Saskatchewan’s first technology incubator, which accelerates the development of Saskatchewan’s tech sector by identifying high-potential startup founders and helping them take their technology from an idea to $1 million in annual recurring revenue (ARR) in under 3 years with a smart cap-table. In the past 29 months, Co.Labs generated over $10 million in revenue and created more than 160 full-time jobs for Saskatchewan’s economy.
Saskatoon is also home to many home-grown tech companies rounding out Saskatoon’s tech ecosystem:
- Vendasta, a software company that builds and curates digital business solutions. In 2021, Vendasta announced $119.5 million in venture capital funding, a record for Saskatchewan. As of 2021, Vendasta employs 525 people.
- 7Shifts Restaurant Scheduling Inc, a leading labor management platform for the restaurant industry, employs more than 125 people and has collectively saved restaurateurs over $200 million in labor costs. The rapidly growing platform is used by more than 10,000 restaurants, including large, growing franchises such as Bareburger, Panera, Honeygrow, & Pizza and Smoke’s Poutinerie.
- Mentor, a leading provider of variation-aware design and characterization software.
The Government of Saskatchewan has two incentives available to tech companies to support the growth and success of tech in Saskatchewan:
THE TECH TRIP
SREDA is pleased to offer The Tech Trip, an entrepreneurship and business expansion program for local tech companies. Through this program SREDA provides financial support to local tech companies to join representatives from SREDA and Co.Labs in San Francisco.
SCIENCE, TECHNOLOGY, INNOVATION AND COLLABORATION AWARDS
SREDA is pleased to offer the Science, Technology, Innovation and Collaboration Awards (STIC Awards). These awards showcase the people, projects and products in the Saskatoon Region’s growing science and technology cluster and their impact on the local economy.
Saskatoon is home to the natural resources that feed, fuel and fertilize the world, as well as the innovations that surround these industries.
Business in Saskatoon
Saskatoon’s mix of economic diversity, low business costs and high quality of life make it the perfect place for businesses and people to thrive.