Innovation, technology and sustainable energy

The 2024-25 Budget provides investment incentives and programs and services to spur innovation and support the technology and sustainable energy sectors.

2024-25 Budget highlights:

Investing in Innovation and Supporting a Strong Technology Sector 

  • Enhancing the Saskatchewan Technology Startup Incentive (STSI) Tax Credit Program with the following changes:
    • The annual program cap on the amount of non-refundable tax credits that may be issued has doubled to $7 million annually; and
    • Program eligibility has been expanded for cleantech startup investments to benefit Saskatchewan investors and early-stage technology companies.
  • Since launching in 2018, STSI has played a key role in supporting early-stage technology companies and advancing the province’s innovation ecosystem, including helping Saskatchewan technology startups raise more than $90 million in private investment while creating over 400 jobs.
  • Redevelopment of the west wing of the Galleria building at Innovation Place in Saskatoon will include specialized infrastructure to support scaling agtech companies.
  • Extending the Saskatchewan Commercial Innovation Incentive by one year to allow for a program review, which will include engaging with industry.

Investing in Nuclear Power and Sustainable Energy

  • $140 million for the Clean Electricity Transition Grant, which provides SaskPower with funding for in-year clean electricity operating costs, as well as support for maintaining affordable rates for customers.
  • $21.5 million in funding to the Saskatchewan research council for the development of a micro small modular reactor (mSMR) project.