Saskatchewan cannabis nursery Mother Labs recently succeeded in securing $1.8 million in federal funding, demonstrating that Canada's cannabis industry can benefit from government financing at a time when capital is scarce. The federal agency Prairies Economic Development Canada (PrairiesCan) announced the investment in Mother Labs in late June, along with funding for 10 other Saskatchewan businesses. CEO Bain says Mother Labs will use the funding to expand into British Columbia and invest in automation and recruit new talent. prairiesCan is one of seven regional development agencies under Canada's federal Department of Innovation, Science and Economic Development (ISED). Other ISED regional development agencies also fund cannabis business initiatives. A spokesperson for another regional development organization, Opportunity Atlantic Canada, told MJBizDaily that funding applications are judged on compliance, economic benefit and institutional priority. The agency also assesses potential recipients' "technical and financial management capabilities" and their "ability to deliver the proposed project activities.
Information source: mjbizdaily.com/