TECHNOLOGY

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.

SUPPORT

BUSINESS INCENTIVES

The Government of Saskatchewan has two incentives available to tech companies to support the growth and success of tech in Saskatchewan:

• The Saskatchewan R&D Tax Credit, which provides a 10% refundable tax credit to qualifying companies
• The Saskatchewan Technology Startup Incentive, which provides a non-refundable 45% tax credit for individuals, corporations and venture capital corporations investing in eligible startup businesses