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A new program designed to help spur growth for established businesses in Saskatchewan’s two largest cities launched on May 14.
The initiative, dubbed Upscale, was created by the Saskatoon Regional Economic Development Authority (SEDA) and Economic Development Regina (EDR), with support form Prairies Economic Development Canada. The program aims to provide support, expertise and resources to help companies scale up their operations and expand into additional markets.
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The program is open to businesses in Regina and Saskatoon “that are past the startup stage and ready to scale,” and applications will remain open until June 6.
The Upscale website says the program is designed for for-profit, privately held businesses that meet the following criteria:
- Incorporated and operational for at least two years
- Fewer than 150 employees
- Annual revenue between $1 million and $50 million
- A clear and established business plan
- Operating in agriculture, mining, manufacturing, energy, technology or life sciences/biotechnology sectors.
“Upscale is an incredible opportunity for Saskatoon region businesses to receive support that’s aligned with their growth journey,” Erin Lawson, SEDA’s CEO, said in a statement.
“By equipping local companies with the right tools and expertise, we’re helping them scale with confidence and contribute to a stronger, more resilient economy.”
Chris Lane, CEO of EDR, said the Queen City has a long history of entrepreneurship.
“Upscale is designed to give a new generation of entrepreneurs the tools, insights and support they need to not only scale their businesses, but to strengthen our economy.”
More information on the program and how to apply can be found on the Upscale website.
A virtual information session on the program is set for Tuesday at 10 a.m.
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