Federal government invests more than $28.5 Million into Saskatchewan innovation companies

Several companies and organizations in Saskatchewan are receiving federal funding through the Western Economic Diversification Canada fund.

22 groups are each receiving a share of over $28.5 Million, including Dot Technology Corp, with is receiving a $5 Million repayable Business Scale-up and productivity interest free loan.

President Norbert Beaujot said this will help further develop the commercialization of the business.

“It’s a big project, and so it goes far beyond our capabilities without support methods.”

Chief Financial Officer Jeff Bourassa said more than 50 jobs will be created with the funding.

“It is for scale-up and commercialization, Norbert and his team have spent a lot of years on the development side, and now it’s time to take it global,” Bourassa said. “We really are leading the world in this, so we’re hiring a lot of ‘A’ players, and bringing them to Saskatchewan to help execute that.”

Another one of the companies receiving funding is Avena Foods, who is receiving an interest-free loan of just over $1.8 Million to help establish a gluten-free processing facility in Rowatt.

President Gord Flaten said the funds used will be beneficial to their business.

“The plant-based food sector is very popular right now and we have been in that for decades in our business, and it’s growing very fast,” Flaten said. “Keeping up with demand is a big issue, and we need to build new facilities like this in order to be successful.”

Also announced Monday is the increase in federal gas tax funding to municipalities across Saskatchewan. The federal government is doubling its investment this year to over $124 Million dollars.

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