Cultivator’s Vision 250 Startups with $1M ARR
Cultivator powered by Conexus has set an ambitious goal to support 250 Saskatchewan companies in reaching $1 million in annual recurring revenue (ARR) by 2050. This initiative builds on its success since 2019, during which 15 companies in its incubator program have reached this milestone.
The incubator has outlined a phased approach, targeting 35 companies achieving this benchmark by 2030, ultimately leading to the 250-company goal by mid-century. “We know that tech companies and the jobs they create are more likely to be in Saskatchewan for the long haul once they reach this revenue target,” said Cultivator Director Laura Mock. “It’s a critical benchmark. One million in ARR also tends to be the magic number for when a company is ready for Series A investment.”
This strategic shift unifies Cultivator’s support for both local tech startups and global agtech ventures, ensuring a focused effort on fostering high-revenue businesses. The new target was officially announced at Cultivator Community Night on February 1, 2025, an event that also featured a founder panel and the winners of the 24-Hour Startup challenge, where teams develop a minimum viable product within a day.
As Canada’s first credit union-led business incubator, Cultivator benefits from its connection to Conexus Credit Union. “900 Conexus employees work tirelessly every day with a singular purpose – championing this province and its people,” said Conexus CEO Celina Philpot. “Cultivator powered by Conexus’ audacious 250 by 2050 goal demonstrates an unwavering commitment to a thriving Saskatchewan.”
By championing local innovation and entrepreneurship, Cultivator powered by Conexus continues to play a vital role in shaping Saskatchewan’s future.
Photo Credit: conexus-credit-union