A Financial and Legal Boost for Saskatchewan Tech Startups
In the 2018-19 Saskatchewan Budget, Saskatchewan announced a new Saskatchewan Technology Start-Up Incentive (STSI) Program aimed at the rapid growth and success of newly-emerging technology companies in Saskatchewan.
This blog explains the program and the legal tools that MLT Aikins has available to assist organizations and individuals interested in the program.
The STSI Program
The STSI Program is designed to provide investors with a non-refundable tax credit equal to 45% of qualifying new investments made in an “Eligible Small Business.”
There are four basic requirements in order for an Eligible Small Business (ESB) to qualify for the program:
- The ESB must be involved in the development of new technologies or applying existing technologies in a new way to create proprietary new products, services or processes that are repeatable and scalable;
- The ESB must have less than 50 employees;
- The ESB must be incorporated and headquartered in Saskatchewan; and
- The majority of staff of the ESB must be located in Saskatchewan