Aggregate Co.Labs startup revenue — cumulative ($ Millions)
Record-Breaking Success
Co.Labs startups have set a new record for revenue growth. During their time in Co.Labs’ programs, startups have generated a total of $81M in revenue!
Driven by new product development, significant sales traction, and unlocked product-market fit, Co.Labs startups are growing faster than ever before. In the first three quarters alone, aggregate revenues of startups in 2024 have already surpassed 2023 totals! This rise follows a 48% increase in revenue generated from 2022 to 2023, marking significant and sustainable growth.
Since launching in 2017, Co.Labs has incubated over 211 startups that have collectively raised $42.2 million in private investment, generated $81.0 million in revenue, and created over 876 jobs.
More Than Just a Number
Aggregate Co.Labs startup revenue — by quarter ($ Millions)
These figures go beyond the measure of individual success, highlighting a broader trend across the province — Saskatchewan’s tech startups are scaling faster than ever before.
This revenue milestone underscores the viability of SK tech startups, as founders grow tech solutions across many industries, scaling to international markets and expanding the local innovation economy.
“The past year at TeamLinkt has been incredibly busy. We’ve nearly doubled our year-over-year revenue growth, thanks to the hard work of our team in delivering great products and launching innovative features like Emi, our AI-powered copilot. Emi automates sports management for leagues, clubs, and associations, making a big impact for our users. We’ve also prioritized customer feedback to refine the platform and expanded our partnerships across North America. It’s exciting to see TeamLinkt now used by over 3,000 organizations, with more than half of our usage coming from the US.Looking ahead, we’re focused on building out AI capabilities, deepening fintech integrations, and expanding into new markets. With Emi at the core of our platform, the next 12-months are about redefining how sports organizations operate, delivering even more value to our users, and accelerating growth.”
Jay Maharaj - Founder of Teamlinkt
“Ethnomet’s growth over the past year has been fueled by the clear communication of our value, efficient sales processes, consistent sales traction, and strong networks. We’re proud to have hit major milestones including the completion of our Ethnomet Health App, $300K funding through the Microsoft Partner Capital Program, developing Health Med Box prototypes, and creating custom health apps for partners like Whole Health Integration. In the coming months, we’re excited to launch EthnoRing—a smart ring that connects users to health services, collaborate with Telehealth on a pilot project for medical support boxes, and raise an equity round to support our future growth.”
Garnette Weber - Co-Founder & CEO of Ethnomet
SK tech startups are achieving remarkable growth, fueled by innovative products and strong market demand. The high velocity of revenue growth reflects a healthy ecosystem that has the talent, support, and ambition to create opportunities for emerging and scaling tech startups. Stay tuned for the celebration of more startup wins as these founders continue to drive innovation in the province!
Thank you to our founding partners Prairies Economic Development Canada and Innovation Saskatchewan for empowering startups to grow, innovate, and achieve lasting impact through ongoing support.
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