Innovation Saskatchewan Invests $2.2 Million in Technology Projects for Core Sectors
The Government of Saskatchewan is committing to a multi-year, $2.2 million investment in eleven Saskatchewan innovators through the Saskatchewan Advantage Innovation Fund (SAIF) and Agtech Growth Fund (AGF). SAIF supports commercialization of game-changing technological innovations in the province's core economic sectors, while AGF operates in parallel as a research and development (R&D) funding program designed to accelerate the commercialization of game-changing technological innovations in the province's agricultural sector.
"Investment in these two programs supports addressing specific industry challenges through the development of cutting-edge technologies," Minister Responsible for Innovation Saskatchewan Jeremy Harrison said. "Focusing resources into areas of our province's natural economic strengths will grow the province's tech sector and drive our economy forward."
Since 2012, Innovation Saskatchewan has provided $12.7 million to the SAIF program, and $1.6 million to AGF. There have been 46 funded projects through SAIF, with a 282 per cent return on investment based on private and federal funding leveraged. There have been 164 new jobs created through SAIF since 2018 alone.
The intake period for both programs is held twice per year. Funding decisions have been made for both intakes in 2020 and include non-repayable grants to companies listed in the backgrounder.
For more information about the Saskatchewan Advantage Innovation Fund (SAIF), and Agtech Growth Fund (AGF), visit www.innovationsask.ca.