Today, the government introduced The Innovation Saskatchewan Amendment Act, 2022 to further support the growth of the technology and research sector in the province.
The legislation provides authority for Innovation Saskatchewan to own and operate the technology and research parks currently assigned to Saskatchewan Opportunities Corporation (SOCO) for the purposes of creating a single innovation agency in the province.
"This move positions Innovation Saskatchewan as the leader in a sector that is key to our economic recovery," Minister Responsible for Innovation Saskatchewan Jeremy Harrison said. "The changes we are making demonstrate government's commitment to growing the technology ecosystem and support investment attraction by way of start up companies and research partners to the province. It allows us to support innovation, research commercialization and build capacity through an integrated approach to programs, services and infrastructure."
"Innovation Saskatchewan has been a highly effective agency for the strategic and rapid deployment of policies and programs with an enormous impact on the growth of the innovation sector," SaskTech President and Siemens appointee - an industry organization that represents Saskatchewan technology companies - Aaron Genest said. "Innovation Place, as an instrument of Innovation Saskatchewan, will complement this mission, enhancing the effectiveness of existing efforts - particularly around the development of the startup ecosystem - and providing new opportunities for creative solutions to meeting the government's 2030 Growth Plan goals. We're enormously supportive of this change."
Innovation Saskatchewan works directly with industry and external stakeholders to support the commercialization of research and technology and to grow the province's technology sector.
The changes in the Act will allow Innovation Saskatchewan to operate the research parks located at the University of Regina and University of Saskatchewan. As a single integrated agency, it will have a clear mandate to drive innovation and ownership in delivering on the goal of tripling the tech sector in the province by 2030 by leveraging infrastructure assets. It will provide additional support to start ups and early-stage technology companies and an effective way to encourage new and established technology companies from Canada and around the world to relocate and grow in the province.