Almost $1M investment from PrairiesCan to support Opus startup incubator
SASKATOON, SK, Jan. 17, 2025 /CNW/ - Saskatchewan tech innovators are developing solutions for the prairies and the world. The sector recorded $845.5 million in revenue in 2022 and accounted for 10 percent of all jobs created in the province between 2016 and 2023, according to a report by Innovation Saskatchewan. Industry growth is projected to triple by 2030, and incubators and accelerators are a big part of this success.
In 2022, the University of Saskatchewan (USask) created Opus, a new startup incubator and pre-accelerator program for the USask community. Opus addresses the unique needs of founders developing deep tech innovations, including faculty, students, alumni, and staff associated with USask, and helps smooth the way for bringing research-backed innovations out of the university and into the world.
One such innovation born at Opus is a revolutionary crop disease diagnostic tool developed by PathoScan that enables farmers to perform real-time crop pathogen testing anywhere, without requiring any technical background.
Today, the Honourable Terry Duguid, Minister for PrairiesCan, announced federal funding of $988,100 for USask to expand the Opus startup incubator, providing additional entrepreneurship training and support services to new founders and innovators within the university's research and development network.
Opus has created an array of programs to help innovators transform their ideas into successful products and services. Their student ambassadors help spread the word about Opus and potential founders can participate in various programs including:
- Idea2Explore, to learn more about entrepreneurial thinking and the benefits of entrepreneurship.
- Innovation2Build, which provides access to entrepreneurial programming, infrastructure and a network of experts, tailored to the unique needs of USask founders.
- Impact2Market, which provides graduates of Innovation2Build with more training, funding and access to infrastructure.
Quotes
"Entrepreneurs and tech startups across the Prairies are helping build a strong, competitive economy that benefits all Canadians. Our government is championing the dynamic and growing tech sector in the region, and investments like this one in USask and their Opus incubator help make sure that innovative ideas formulated in Saskatchewan are transformed into market-ready products and services, fueling economic growth and creating good jobs."
–The Honourable Terry Duguid, Minister for PrairiesCan
"USask's Opus startup incubator has enhanced our province's innovation landscape. From agriculture products to medical therapeutic enhancements, we've already seen great things come out of this unique incubator in just a small amount of time. This PrairiesCan investment underscores our belief in the exceptional potential of our USask researchers and Saskatchewan's tech industry. Our innovations have, and will continue to, drive economic growth and prosperity here at home and around the world."
–Peter Stoicheff, USask President
"Opus has given us the resources, connections and support we needed to overcome the challenges that deep tech startups face. We've been able to accelerate our growth thanks to the help of the Opus team and everything the incubator has to offer."
–Tayab Soomro, Co-Founder and CEO, PathoScan Technologies Inc.
PhD Student, College of Agriculture and Bioresources
Quick facts
- In its first two years, Opus supported 24 startups engaging with over 130 stakeholders ranging from community and business leaders, investors and ecosystem service providers.
- Opus pre-accelerator programming focuses on research-based deep tech innovations, equipping founders with the necessary skills for startup development and helping them progress to other accelerators and incubators like Co.Labs and Cultivator. Those two organizations, supported by PrairiesCan, have generated over $194 million in revenue and incubated over 380 startups.
- Deep tech innovations tend to disrupt entire industries and/or create new markets by solving fundamental problems. These technologies require significant scientific advancements and extensive research and development efforts that aim for transformative impact.
Associated links
- Prairies Economic Development Canada (PrairiesCan)
- Opus, University of Saskatchewan
- Regional Innovation Ecosystems (RIE), PrairiesCan
- PathoScan Technologies Inc.
- The State of Saskatchewan's Tech Sector – Report (PDF)
Stay connected
Follow PrairiesCan on Twitter and LinkedIn
Toll-Free Number: 1-888-338-9378
TTY (telecommunications device for the hearing impaired): 1-877-303-3388
SOURCE Prairies Economic Development Canada
Contacts: Evan Brick, Issues and Appointments Manager, Office of the Minister of Sport and Minister responsible for PrairiesCan, [email protected]; Tunde Oyateru, Communications Manager, Prairies Economic Development Canada, [email protected]; Victoria Dinh, USask Media Relations, 306-966-5487, [email protected]
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