A hemp producer and marijuana retail software company were among a group of small- and medium-sized businesses in Saskatchewan that received funding from the Canadian federal government.
Alberta-headquartered Blue Sky Hemp Ventures received 749,115 Canadian dollars ($618,800) to upgrade a facility in Saskatchewan for hemp oil pressing and CBD oil refining, according to the announcement by Western Economic Diversification Canada.
Cova Software, which is based in Vancouver but has an office in Regina, Saskatchewan, received CA$531,125 to expand its cannabis retail software platform. Cova makes point-of-sale software for cannabis stores.
The CA$1.28 million in funding for the two companies was part of CA$11.5 million divvied up between 11 projects selected under the Business Scale-up and Productivity program.
The program is intended to create opportunities for “high-growth” businesses in new markets.
“These investments are expected to result in increases in export sales and business revenue growth, as well as the creation of new jobs,” according to a government news release.
Applications for the Business Scale-up and Productivity program expression of interest closed April 14.
Information on other available business support is available here.