REGINA — Innovation Saskatchewan is broadening eligibility for the Saskatchewan Technology Startup Incentive (STSI) to include life sciences companies.
According to a government release, the expansion opens the program to startups working in areas such as agricultural biotechnology, therapeutics, medical devices, genomics and digital health.
"Expanding STSI to life sciences is a game-changer for companies like OncoForma," founder and CEO of OncoForma Biotechnologies Roshan Thomas said.
"Early-stage investors need every reason to back deep-tech health companies in Saskatchewan, and a tax incentive that reduces their risk makes those conversations far easier."
STSI offers a non-refundable 45 per cent tax credit to investors who support eligible early-stage Saskatchewan tech companies in digital and clean technology, and now, life sciences.
