The Opportunity Calgary Investment Fund (OCIF) was created as a catalyst to attract investment, drive innovation, and spur transformative economic development in the city. OCIF has made a wide range of public and private investments that drive economic growth, job creation, and ecosystem development, positioning Calgary to lead digital transformation across our key sectors.
$100M TOTAL FUND
The fund was created from the City of Calgary’s existing reserve.
25 PROJECTS SUPPORTED
Funded projects demonstrate bravery, innovation and clear social and economic benefits.
$76.5M FUNDS COMMITTED
Our projects support multiple sectors: agribusiness, technology, training, energy, and more.
OCIF investments are catalytic.
In December 2022, Movement51 received $486,350 from PrairiesCan to empower more women-identifying individuals with the capacity, confidence and networks to become early-stage investors. This funding expands on Movement51’s Financial Feminism Investing Lab, a financial literary program that OCIF funded a year prior with an investment of up to $333K to support the graduation of 165 Calgary-based participants.
OCIF drives innovation across Calgary’s key sectors.
Venture studio Avatar Innovations launched Avatar Venture Fund I in December 2022, with the goal of raising $3 million to support new decarbonization technology developed in the Avatar Accelerator program. OCIF announced its support of this program in July 2022, a $500,000, three-year funding agreement with the potential to create more than 12 Calgary startups accelerating the path to net zero.
OCIF promotes the development of a future-ready workforce.
AltaML’s October 2022 Impact Report shows that participants of the lab report a 91% employment rate in highly technical roles. Over 37% of participants in its AI Lab are from outside Calgary and a high number are women-identifying. OCIF announced in 2020 it will provide up to $3.25 million of funding to AltaML to create applied data science internships with mentored work experience.
OCIF supports Equity, Diversity, Inclusion and Accessibility (EDIA) in talent development.
Leveraging Calgary’s strong economic momentum, IBM’s Western Canada Client Innovation Centre (CIC) reports early success in job targets with a focus on hires from outside Calgary and from under-represented communities and high employee satisfaction and engagement levels. OCIF announced its support of the Calgary-based CIC in June 2022.
OCIF accelerates digital transformation of industries.
With support from OCIF and Creative Destruction Lab – Rockies (CDL-Rockies), companies are turning tech solutions into startups. CDL-Rockies was approved for up to $3 million from OCIF in 2021 to boost support for local tech startups like Ownly in real estate and Ironsight in energy services, helping companies grow and scale to the size of their ambitions. (413)
OCIF makes impactful investments that help Calgary seize opportunities for growth in changing economic conditions. The Board of Directors has approved agreements to help scale local early-stage companies, strengthen the talent pipeline and position Calgary as an opportunity-rich global innovation destination.
For more information on the impact of OCIF’s investments in the Calgary Economy, please visit here.
Our technology development has exponentially grown and will continue to in the future because of support from groups like OCIF. OCIF’s faith in our technology has catalyzed our growth in the marketplace and we are excited to invest back into Calgary.
OCIF’s contribution in Avatar has ensured that Calgary’s homegrown talent and our oil and gas industry will thrive in a lower carbon future. We will continue to facilitate international expansion and attract the world to invest in Calgary.
With support from partners like OCIF, CDL-Rockies is helping early-stage science and technology founders accelerate their commercial potential, enabling companies in tech, agriculture and energy to thrive in Calgary and beyond.
OCIF was catalytic in enabling a unique and collaborative solution to address the global tech talent shortage through industry-led experiential learning in applied AI, right here in Calgary. We are transforming careers, companies and the wider community.
OCIF’s knowledge on market trends and talent pipelines has spurred ideas for job creation and talent attraction to fuel Calgary’s economic diversification. The trusted partnership has sparked collaboration and synergies across different organizations.
OCIF’s contribution was instrumental to the success of the LSIH in building the life sciences sector and diversifying Calgary’s economy. Together, we have started the engines of the industry and are about to take off.
OCIF continues to power Movement51’s ability to expand programming initiatives such as FFIL. Support from our partners like OCIF, exemplify to women and gender-diverse people of Calgary that they belong in the ecosystem and have a seat at the table.
OCIF CELEBRATES FIVE YEARS OF TRANSFORMATIVE INVESTMENTS IN CALGARY
April 26, 2023
OCIF: TURNING TECH SOLUTIONS INTO STARTUPS WITH CDL-ROCKIES
March 9, 2023
OCIF SELECTS COMBINE VENTURE BUILDERS TO ACCELERATE GROWTH OF EARLY-STAGE CALGARY COMPANIES
December 20, 2022
ACCELERATING GROWTH OF LOCAL TECH COMPANIES
Business accelerators and incubators support local startups through access to investors, mentorship and other resources to scale their companies.
Avatar Innovations CDL-Rockies Combine Venture BuildersEndeavorHarvest BuildersInterGen Movement51 SVG | THRIVE Plug and Play
FUNDING OUR FUTURE
OCIF issued a RFP for third-party professional fund managers with a Calgary-focused fund to create a pool of capital for investments in early-stage companies.
LEADING ALBERTA INNOVATIONS IN HEALTH CARE
OCIF helps accelerate leading-edge medical innovations to solve global health challenges in Calgary’s thriving life sciences sector.
RESKILLING OUR WORKFORCE
OCIF helps diversify opportunities to meet Calgary’s growing demand for tech talent through the expansion of work-integrated learning and training for the digital economy.
SUPPORTING TECH JOB EXPANSION IN CALGARY
OCIF supports the growth of a tech-skilled workforce through investments into innovation ecosystem development.
AltaML Attabotics Finger Food (now Unity) IBM Mphasis MobSquadLodgeLink ParkLand