Canada invests CAD $988,100 in USask's Opus incubator

The Government of Canada has announced nearly CAD $1 million in funding to support the Opus startup incubator at the University of Saskatchewan, aimed at bolstering the tech entrepreneurship ecosystem.

PrairiesCan, a federal economic development body, will provide CAD $988,100 to enhance the capabilities of Opus, a startup incubator focused on assisting the university community with commercialising their research-backed innovations. Initiated in 2022, Opus is designed to facilitate the transition of groundbreaking ideas from academia into viable market solutions.

The Honourable Terry Duguid, Minister for PrairiesCan, expressed the significance of this investment in driving the tech sector's expansion. "Entrepreneurs and tech startups across the Prairies are helping build a strong, competitive economy that benefits all Canadians. Our government is championing the dynamic and growing tech sector in the region, and investments like this one in USask and their Opus incubator help make sure that innovative ideas formulated in Saskatchewan are transformed into market-ready products and services, fueling economic growth and creating good jobs," he stated.

The University of Saskatchewan President, Peter Stoicheff, highlighted the positive impact that the Opus incubator has had on the local innovation ecosystem. "USask's Opus startup incubator has enhanced our province's innovation landscape. From agriculture products to medical therapeutic enhancements, we've already seen great things come out of this unique incubator in just a small amount of time. This PrairiesCan investment underscores our belief in the exceptional potential of our USask researchers and Saskatchewan's tech industry. Our innovations have, and will continue to, drive economic growth and prosperity here at home and around the world," he remarked.

Opus offers a range of entrepreneurship training and support programmes such as Idea2Explore, Innovation2Build, and Impact2Market. These initiatives provide aspiring entrepreneurs, including students, faculty, and alumni, with vital resources to cultivate their ideas and scale their enterprises.

PathoScan Technologies, one of the startups nurtured at Opus, has developed a crop disease diagnostic tool that empowers farmers to conduct real-time testing of crop pathogens without technical expertise. Co-Founder and CEO Tayab Soomro shared his experience, stating, "Opus has given us the resources, connections and support we needed to overcome the challenges that deep tech startups face. We've been able to accelerate our growth thanks to the help of the Opus team and everything the incubator has to offer."

In its initial two years, Opus has supported 24 startups, engaging over 130 stakeholders from various sectors, including investors, business leaders, and service providers within the innovation ecosystem. The incubator's focus on deep tech is integral to disrupting existing industries or creating new markets by addressing foundational challenges through scientific and technical advancements.

PrairiesCan supports regional accelerators and incubators such as Opus, Co.Labs, and Cultivator. These organisations are credited with generating over CAD $194 million in revenue and incubating in excess of 380 startups, emphasising the importance of nurturing tech entrepreneurship within the Canadian Prairies.