SOCO Provides Comprehensive Environment for Saskatchewan Tech Companies
Saskatchewan Opportunities Corporation (SOCO) released its 2019-20 Annual Report today, highlighting the technology parks’ role in helping grow the province’s technology sector.
“SOCO continues to provide a supportive environment for technology companies that represent Saskatchewan’s key growth sectors,” Minister Responsible for SOCO Joe Hargrave said. “Entrepreneurs active in the agri-tech, health and life sciences, information and communications technology, and natural resources sectors are integral to further development of Saskatchewan’s exciting tech sector, which is resulting in the success of their business ventures.”
“This unique and comprehensive environment helps technology companies start, grow and stay in Saskatchewan and contribute to the province’s evolving technology ecosystem,” SOCO President and CEO Van Isman said.
Highlights of the 2019-20 Annual Report:
- SOCO generated a net income of $3.0 million, with total revenue of $39.5 million.
- Of the 185 businesses that started operations at Innovation Place, 123 (66 per cent) are still active in Saskatchewan, with 62 located in the technology parks and 61 operating elsewhere in the province.
- Innovation Place received a 94.5 per cent approval rating from tenant CEOs who would recommend the technology park to other organizations.
- In the last fiscal year, 13 new technology companies started at Innovation Place.
- Increased tenant programming resulted in more than170 business development and networking events, attracting close to 12,000 attendees.
SOCO is a Crown corporation that operates under the business name Innovation Place. The technology parks, located adjacent to the province’s two universities in Saskatoon and Regina, are home to 150 tenants employing more than 3,800 people.
A diverse mix of technology and service tenants, a dynamic social atmosphere and high quality facilities work together to create a community that encourages innovation, collaboration and entrepreneurship.
The 2019-20 Annual Report is available online at www.soco.sk.ca.