The University of Saskatchewan and Saskatoon-based tech incubator Saskatchewan Collaborates Incorporated have signed a new memorandum of understanding aimed at creating a pipeline of innovative ideas, services, and talent.

USask has been a key sponsor of Co.Labs since the incubator’s inception in 2018. Under the agreement, the university will provide an annual investment of $60,000 for three years. This is an increase from the current support of $30,000 per year. The money will be in support of Co.Launch—a 12-week program in which founders learn startup fundamentals and compete for funding and a full-time spot at Co.Labs.

The MOU outlines a commitment for the two organizations to collaborate on program offerings, and allows USask to tap into Co.Labs’ expertise in entrepreneurship.

Co.Labs is a non-profit organization helping grow Saskatchewan tech ecosystem. It offers support for founders and teams to navigate the path from idea to $1M in annual revenue. Since launching in 2018, Co.Labs has supported more than 130 startups which have together, generated over $20M in revenues, raised $11.5 in private investment, and created more than 350 jobs in Saskatchewan’s technology sector.