News

SOCO Continues to Help Grow Saskatchewan's Tech Sector

July 20, 2017

Technology sector development is one of several priorities highlighted in the 2016-17 Annual Report released today by the Saskatchewan Opportunities Corporation (SOCO).

SOCO is a Crown corporation that operates under the business name of Innovation Place and manages technology parks at the province’s two universities in Saskatoon and Regina. 

Innovation Place is home to 165 tenants employing approximately 4,000 people.  In the last fiscal year, Innovation Place welcomed 10 new technology business startups to the parks.   Rejuvenated tenant programming and specialized facilities, services and amenities help provide a supportive environment for new and existing companies.

“SOCO continues to create and encourage business opportunities in the province’s key growth sectors through the operation of technology parks,” Minister Responsible for SOCO Joe Hargrave said.

“We strive to provide our tenants with an environment that encourages innovation, collaboration and entrepreneurship,” SOCO President and CEO Van Isman said.   “By attracting new companies and supporting the growth of existing companies, we contribute to the broader technology community and help grow Saskatchewan’s technology sector.   Approximately 1.7 million square feet of rentable space including laboratories, greenhouses, offices and specialized facilities is available to approved tenants.”

Highlights of the 2016-17 Annual Report:

  • Tenant programming attracted over 6,200 people to 160 distinct programs with a primary focus on business skills development.
  • Innovation Place received a 95 per cent approval rating from tenant CEOs who would recommend Innovation Place to another technology organizations.
  • SOCO partners with numerous organizations to advance business development in Saskatchewan. A few of these include Co.Labs Tech Business Incubator, the Wilson Centre for Entrepreneurial Excellence, Ag-West Bio, and Saskatchewan Capital Network.
  • With an employee engagement score of 87 per cent, Innovation Place was recognized on the Platinum list of Aon Best Small and Medium Employers in Canada.
  • SOCO ended 2016-17 with a vacancy rate of 7.6 per cent, an improvement over the previous fiscal year’s vacancy rate of 10%.
  • With total revenues of $39 million, SOCO ended the year with a net income of $517,000. 

The 2016-17 Annual Report is available online at www.soco.sk.ca.

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For more information, contact:

Van Isman
Saskatchewan Opportunities Corporation
306-933-6258 (Saskatoon)
Phone: 306-787-8554 (Regina)
Email: visman@innovationplace.com
www.innovationplace.com

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