MP Chahal announces investments in business growth and digital technology in Saskatchewan

$600,000 through PrairiesCan to support economic development initiatives in Saskatchewan

REGINA, SK, Aug. 25, 2023 /CNW/ - Saskatchewan has a diverse and growing economy, built on a strong entrepreneurial culture and technological advancements that help support the needs of Canadians. With vibrant research and innovation sectors, an expanding labour market, and a community of innovative business creators, Saskatchewan has ample opportunities to continue that economic growth in a way that leaves no one behind. PrairiesCan was created by the Government of Canada to support that future for communities across the province.

Today, George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dan Vandal, Minister for PrairiesCan, announced a federal investment of $600,000 to help Saskatchewan businesses, and organizations that support the business community, access the resources needed to scale-up and bring innovative products and services to new markets.

These investments will help ensure that Saskatchewan businesses have the tools and information to thrive, and they will help the province advance by matching a diverse population with the rich economic opportunities in the region. Immigrant, minority, and Indigenous business owners will be better positioned for success from support focused on their unique needs. The Saskatchewan health care community and patients will benefit from new technology that helps mitigate current challenges. As well, the digital technology sector will be able to advance with a clearer picture of the regional labour market.

"Our government is continuing to work with innovators, business leaders and industry associations to ensure that they have the support they need to succeed. Today's investments in business and organizations that support business will help diversify labour markets in Saskatchewan and grow digital technology enterprises that serve the Prairies and beyond."
?The Honourable Dan Vandal, Minister for PrairiesCan

"Maximizing business growth on the Prairies requires innovative solutions and a strong understanding of the needs of entrepreneurs and local labour markets. Our government is investing in digital technology, diversity and inclusion, and targeted research to help businesses grow smarter, for a strong economy of the future."
?George Chahal, Member of Parliament for Calgary Skyview

"The Regina & District Chamber of Commerce is proud to play a part in fostering and enhancing a diverse and inclusive business community in Regina and Saskatchewan. The sharing of different perspectives and experiences will lead to innovation, new partnership opportunities and a more robust local economic outlook."
?Tony Playter, CEO, Regina & District Chamber of Commerce

"Funding from the Business Scale-up and Productivity program from Prairies Can helped Lumeca build technology that is now being piloted here in Saskatchewan. This crucial new technology enables remote physicians to keep rural Emergency Departments from having to close temporarily due to the ongoing staffing challenges affecting health systems globally."
?Tom Douglass, CEO, Lumeca Health Inc

"Our most recent funding project [Labour Market Economic Impact Study 2023] in partnership with PrairiesCan and Innovation Saskatchewan, will be launched in early September 2023, and will be a benchmark for the technology sector in Saskatchewan. The data collection will be utilized by private, public and entrepreneurs in the growing technology ecosystem"
?Darcy McLane, CEO, Saskatchewan Interactive Media Association Inc.

• PrairiesCan is investing $600,000 today in Saskatchewan through three different programs:
• The Regina & District Chamber of Commerce is receiving $250,000 under the Community Economic Development and Diversification (CEDD) program to develop a pilot program to support immigrant, minority and Indigenous business owners and entrepreneurs in Regina and surrounding area.
• Repayable funding of $200,000 under the Business Scale-up and Productivity (BSP) program will help Lumeca Health Inc. expand their market reach and improve their emergency communication platform, Lumeco Go.
• The Saskatchewan Interactive Media Association Inc. is receiving $150,000 under the Regional Innovation Ecosystems (RIE) program to conduct a labour market economic impact study of Saskatchewan's digital technology sector.

These investments in the Saskatchewan economy support business growth and digital technology through repayable funding direct to business, and targeted initiatives for business organizations which are non-repayable.

The CEDD program contributes to the economic growth and diversification of communities across the Prairie provinces. Through this program, PrairiesCan enables communities to leverage their capacity and strengths to respond to economic development opportunities and adjust to changing and challenging economic circumstances. Today, PrairiesCan announced the following CEDD-funded project:

• Regina & District Chamber of Commerce ($250,000)
  Develop a pilot program to provide resources, learning and mentorship opportunities to local immigrant, minority and Indigenous business owners and entrepreneurs in Regina and surrounding area.

Through the BSP program, the Government of Canada supports high-growth businesses seeking to improve productivity, scale-up and commercialize technology. BSP offers interest-free, repayable funding to incorporated high-growth businesses that have been operating in the Prairie provinces for a minimum of two years. The following BSP funding was announced today by PrairiesCan:

• Lumeca Health Inc. ($200,000)
  Expand market reach by hiring sales and marketing staff and enhance and add new functionality to its proprietary emergency communication platform, Lumeca Go.

The RIE program helps create, grow, and nurture inclusive regional ecosystems that support what business needs to innovate from start to finish. Through RIE, targeted investments in not-for-profit organizations support businesses in priority sectors to innovate, grow and compete globally. RIE also promotes inclusive growth by helping under-represented groups more fully participate in the innovation economy.

• Saskatchewan Interactive Media Association Inc. ($150,000)
  Conduct a Labour Market Economic Impact (LMEI) study of Saskatchewan's digital technology sector.

• Prairies Economic Development Canada
• Business Scale-up and Productivity (BSP) in the Prairie provinces
• Community Economic Development and Diversification (CEDD) in the Prairie provinces
• Regional Innovation Ecosystems (RIE) in the Prairie provinces

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SOURCE Prairies Economic Development Canada