REGINA, Saskatchewan, Feb. 16, 2023 (GLOBE NEWSWIRE) -- For the past four years, Cultivator powered by Conexus (Cultivator) has been cultivating the next generation of tech founders. With a strong focus on providing resources, mentorship, and a collaborative environment, Cultivator has helped 115 startups. From new products to major investments, Cultivator has been an integral part of the growth of Saskatchewan’s and Canada’s tech industry. In four years, Cultivator and its companies have:
- generated over $39 million in revenue;
- raised $59.5 million in private funding;
- received $42.6 million in public funding;
- created 500+ new jobs;
- facilitated1870 investor connections; and
- cultivated 10,000+ community engagements.
"The prairie provinces have long been overlooked as a source of innovation and impact, but Saskatchewan founders and startups are proving that wrong,” said Hannah Castle, Program Manager, Cultivator. “In just four short years, we’ve been able to prove that with the help of resources, programming, and support available from Cultivator, that Saskatchewan startups can experience unprecedented success and growth and are making their mark on the global tech scene.”
Cultivator companies are continually hitting major milestones. A few that happened in 2022 include:
- GROW company, memoryKPR, is being used in over 100 companies, and was one of ten companies accepted into the Silicon Valley Digital Accelerator.
- SCALE company, StoreToDoor, closed a $1.25 million seed round.
- SCALE alumni, myComply, closed a $5.6 million seed round.
- AGTECH ACCELERATOR cohort 1 alumni, IntelliCulture, closed a $1.7 million seed round.
- SCALE alumni, Precision AI, was awarded the Environmental Sustainability Award at the 2022 Innovation Reception.
- GROW company, twello, secured a spot in the top five in the Startup TNT Investment Summit.
- SCALE company, SolusGuard, announced a multi-year, multi-million-dollar deal with Manitoba Hydro.
- SCALE company, Offstreet, won the Startup TNT Investment Summit.
- GROW company, BrewNinja, hit 100+ brewery milestone and surpassed $20K MRR.
- SCALE company, ServiceBox, surpassed $1 million ARR.
- And many more...
“It’s difficult to quantify the impact Cultivator has had on Offstreet, as it has been an integral part of the company,” said Kyle Smyth, Co-founder of Offstreet. “To oversimplify, the most significant impact would be creating a startup community. A community means we have a talent pool to hire from, mentors to learn from, investors for capital, peers for support, and a place we can call home. Without Cultivator, our company would not likely be based or headquartered in Regina.”
Launched in 2019, Cultivator provides resources, mentorship, programming, and space to local startups through its START, GROW and SCALE programs. In 2021, it launched an AGTECH ACCELERATOR program with Economic Development Regina and Emmertech (an agtech venture capital fund managed by Conexus Venture Capital Inc.) to accelerate the growth of Canada’s top agtech startups. The first cohort, consisting of 16 companies from across Canada and the United Kingdom, took place in 2022 and yielded incredible success. In 2022, the AGTECH ACCELERATOR cohort 1 companies:
- generated $16.2 million in revenue;
- raised $31.7 million in private capital;
- raised $19.1 million in public funding;
- created 76 net new jobs; and
- developed 35 patent applications.
Castle attributes this success to the mix of venture capital, accelerator programming, mentorship, and expansive industry connections. “We’re blown away by the early wins in year one of the AGTECH ACCELERATOR and can confidently say that companies participating in this program raise significant amounts of capital and generate significant revenue. We’re extremely proud of the founder experience we created and most importantly, we’re proud of the founders for the amazing business outcomes they’re achieving.” Cohort 2 of the program begins in March 2023.
In 2023, Saskatchewan startups continue to push forward, hit major milestones and see results/impact through determination and creativity. These startups are essential to the local economy, driving innovation, job creation, and growth. Their tenacious spirit to get things done and build something is inspiring. To learn more about Cultivator and its programs, or learn more about its companies, visit Cultivator.ca.
About Cultivator powered by Conexus
Cultivator is Canada’s first credit union-led tech incubator, helping local startups launch, grow, and scale their companies right here in Saskatchewan. Since launching in 2019, Cultivator has incubated and provided resources, mentorship, and space to over 100 startups. Located in Conexus’ head office building in Regina, Cultivator uses 15,000 square feet of space including working space for founders and teams, a pitch space, and a connection to Darke Hall. To learn more, visit Cultivator.ca.
About Conexus Credit Union
Conexus is a forward-thinking, innovative credit union committed to improving the financial well-being of our members and communities. We do this by creating simple, personal, and empowering experiences for our members that are transformational, not just transactional. We are Saskatchewan’s largest credit union and being connected to our communities across the province is a commitment we have upheld for the last 80+ years. As a local co-operative, our profits are returned to our members through our rates, no-fee accounts, community investment and more. Visit Conexus.ca for more information.
Contact:
Media Relations
Cultivator powered by Conexus
publicrelations@conexus.ca
306-751-8201
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