Regina, Saskatchewan, Canada, Feb. 15, 2022 (GLOBE NEWSWIRE) -- It’s been three years since Conexus Credit Union (Conexus) launched Canada’s first credit union-led tech incubator, Cultivator powered by Conexus (Cultivator), and what an incredible journey it has been. Since launching in 2019, Cultivator companies have:
- generated over $14 million in revenue;
- raised $22.8 million in private capital;
- obtained $23.1 million in public funding; and
- created over 300 jobs.
“Cultivator is home to some of the fastest-growing tech startups in the Canadian prairies,” said Jordan McFarlen, Incubator Manager of Cultivator. “We’re seeing more distribution of high-growth companies, founders staying in our province to launch and grow their companies, and an increase in venture capital investments for Saskatchewan startups. The results and growth we are seeing from the past three years is astronomical, and we’re so proud to be supporting our founders through this journey.”
While the pandemic continued to cast a shadow over our province and the world throughout 2021, Cultivator and its companies continued to blaze ahead and have hit some major milestones over the last few years.
- Agtech company PrecisionAI raised $20M+ of private and public funding to change the future of precision agriculture.
- myComply won an exclusive deal to provide New York City with safety technology for 150,000+ construction workers.
- Through five cohorts of our START program, 50% of companies have been female-founded.
- LimbusAI received FDA and EU approval to sell radiation therapy software internationally.
- Prairie Robotics raised a $690,000 seed round led by Conexus Venture Capital Inc. and became the first Saskatchewan-based company to receive Sustainable Development Technology Canada funding.
- Multiple companies grew from $0 to $20,000 monthly recurring revenue (MRR) in less than 12 months.
- and many more….
“These last few years have been full of milestones and gong-able moments,” said McFarlen. “Saskatchewan founders have a roll up your sleeves, get er’ done attitude. These numbers and milestones are a clear indicator of the grit, determination and growth of our startups and is why others around the world are starting to take notice.”
In 2021, Cultivator also announced its commitment to furthering the growth of agtech in Canada by teaming up with Emmertech and Economic Development Regina to launch a venture-capital backed Agtech Accelerator - a first of its kind in Canada! The Accelerator brings both agriculture and technology together to accelerate the growth of Canada’s top agtech startups, with the first cohort set to begin in March 2022.
Conexus is no stranger to innovation. As a forward-thinking credit union, it is continually looking for new ways to support its members and communities. Looking back at Saskatchewan’s entrepreneurial landscape just a few years ago, there weren’t many resources, funding, or space to help local startups launch, grow, and scale their businesses globally, causing many founders to leave the province. Conexus created Cultivator to reduce the barriers founders were facing, and create a hub to accelerate the growth of startups right here at home. Since launching, Cultivator has incubated over 80 tech companies through its START, GROW, SCALE and Agtech (BETA) programming.
“What started as a small space filled with IKEA desks and a few founders willing to take a chance on us, has now transformed into a state of the art, 15,000 square foot headquarters, jam-packed with founders, team members, investors and mentors which creates a thriving ecosystem”, said McFarlen. “We can build things. We can start things. We can grow things from right here in Saskatchewan. And we’re truly just getting started.”
There’s never been a better time than now, and no better place than Saskatchewan to build a tech startup. To learn more about Cultivator, visit Cultivator.ca.
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