With 2024 now behind us, the Opportunity Calgary Investment Fund (OCIF) has cemented its role as a catalyst for innovation and economic diversification in Calgary. Through its strategic investments across various sectors, OCIF has moved forward initiatives that enhance the city’s economy, foster workforce development, and bolster Calgary’s position as a leader in advanced industries. Here’s a look back at the impactful projects funded by OCIF this past year.
Building the Workforce of the Future with The Knowledge Society
To address the demands of a rapidly evolving job market, OCIF invested in The Knowledge Society (TKS), a cutting-edge educational program aimed at developing young talent. This project prepares Calgary’s youth for future-focused careers in technology and innovation. By equipping students with the skills and mindset required for the modern workforce, TKS is paving the way for a robust talent pipeline that aligns with Calgary’s economic goals. Read more here about the investment.
Aerospace Innovation Takes Flight
Calgary’s aerospace sector received a major boost with OCIF’s $3.9 million investment in the city’s Aerospace Innovation Hub (AIH). This funding supports Calgary’s aerospace sector’s ability to accelerate and scale to compete globally. Between 2024 and 2028, the AIH is expected to support incubator programming for up to 180 companies and create 150 new jobs.
Unlocking Capital for Entrepreneurs
Entrepreneurship is a cornerstone of Calgary’s economic landscape, and OCIF’s investment into the established National Bank Investor Hub at Platform Calgary exemplifies its commitment to unlock capital for underrepresented Calgary-based founders. The purpose of the National Bank Investor Hub is to help entrepreneurs access essential funding, mentorship, and resources. This initiative bridges the gap between innovation and investment, empowering Calgary’s next generation of underrepresented business leaders to unlock capital.
Advancing Construction and Manufacturing
Innovation in Calgary’s construction and manufacturing sectors accelerated in 2024 with OCIF’s investment in Southern Alberta Institute of Technology’s (SAIT) Alternative Construction Technologies (ACT) Hub. This hub focuses on fostering advancements in building practices, materials science, and industrial processes. By driving efficiency and sustainability, OCIF is ensuring that Calgary remains competitive in these foundational industries.
Bridging Talent Gaps for SMEs
Small and medium-sized enterprises (SMEs) are the backbone of Calgary’s economy. To address talent shortages, OCIF launched OCIF Express, a streamlined funding program designed to help SMEs bridge workforce gaps. The first round of submissions not only supports the immediate hiring needs of businesses but also fosters long-term workforce growth. Stay tuned for upcoming announcements on the recipients of OCIF Express’ funding call.
Learn more about OCIF Express and how its is helping SMEs.
Strengthening Calgary’s Tech Talent Pipeline for Underrepresented Groups
Calgary has one of the fastest growing tech talent pools in North America, according to CBRE’s annual Scoring Tech Talent report. OCIF’s funding of TECHNATION aids in the acceleration of becoming a world leader. This investment focuses on enhancing the city’s tech talent pipeline by offering student work-integrated-learning experiences for local, underrepresented talent. By addressing critical skills gaps, OCIF is ensuring Calgary’s tech ecosystem remains competitive on a global scale.
Revolutionizing Aerospace Materials
OCIF’s investment in SAIT’s Aerospace Materials and Composite Lab (ACML) highlights its dedication to innovation in the aerospace sector. Focused on groundbreaking research and development that will strengthen Calgary’s advanced aerospace capabilities, this investment is expected to train 21 individuals and support 25 companies over its duration. The lab’s work positions Calgary as a hub for aerospace innovation, attracting industry leaders and skilled professionals.
A Vision for 2025 and Beyond
OCIF’s strategic investments in 2024 have laid a solid foundation for continued growth and innovation in Calgary. By empowering key sectors, fostering talent, and supporting entrepreneurs, OCIF is driving economic diversification and positioning Calgary as a global leader in innovation. As we look ahead to 2025, the city is building on these investments, continuing its journey towards solidifying its reputation as a dynamic, future-ready economy.
Stay tuned as OCIF continues to create opportunities and shape Calgary’s economic future.