Released on April 11, 2011
The Saskatchewan Opportunities Corporation (SOCO) had a positive year in 2010. Net income rose to $6.25 million from $4.1 million in the previous year. SOCO carries on business under the operating name Innovation Place and operates in Saskatoon, Regina and Prince Albert.
"SOCO's financial results are indicative of the strong provincial economy," Minister responsible for SOCO Rob Norris said. "Innovation Place provides unique environments that attract like minded organizations looking to collaborate on new ideas and new opportunities in the technology sector."
"Innovation Place is specifically designed to encourage interactions among our clients," Innovation Place President and CEO Doug Tastad said. "The success of our clients in key areas like ag-biotech, mining technology and health informatics are all contributing to the provinces growth."
The mandate of Innovation Place is to support the growth and success of Saskatchewan's science and technology sector. In 2010, Innovation Place provided a first home in Saskatchewan for eight out of province organizations, two of which have their head offices in the United States. Six new Saskatchewan startup companies also had their first commercial space in the research parks in 2010.
A recent economic impact study of the tenants of the research parks in Saskatoon and Regina and the Forest Centre in Prince Albert indicated the clients of Innovation Place contributed just over $919 million to the economy of the province.
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