USask has been a key sponsor of Co.Labs since the incubator’s inception in 2018. Under the agreement, the university will provide an annual investment of $60,000 for three years. This is an increase from the current support of $30,000 per year in support of Co.Launch a 12-week program in which founders learn startup fundamentals and compete for funding and a full-time spot at Co.Labs. The new MOU was announced by USask President Peter Stoicheff at the virtual Co.Launch pitch event held Thursday. “Our relationship with Co.Labs exemplifies the vision outlined in our University Plan 2025, and is an excellent example of the meaningful impact we have within our community and how we are prepared to be the university the world needs,” said Stoicheff. “We both have a common mission to generate ideas, and support them to find success out in the world, and we are proud to partner with Co.Labs on this important work.”
Today in Funding: Zetane, Co.Labs, LodgeLink
Two Canadian startups and one accelerator program have recently announced new funding to fuel their growth. Here’s the latest on who raised, how much, from whom, and what they’ll be putting the new funds toward.
Zetane receives $350,000 from Quebec government
Pointe-Claire-based startup Zetane Systems has received $350,000 from the Quebec government to support a joint project with defence contractor Rheinmetall.
The funding was provided through Investissement Quebec (IQ), under the Ministry of Economy and Innovation, and is non-refundable financing, contributing to the costs to support the first phase of the project. Rheinmetall is contributing the remainder of the project’s estimated cost of $750,000.
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