OCIF Express accelerates growth for Calgary companies

News provided by

Opportunity Calgary Investment Fund Limited

May 12, 2025, 14:15 ET

CALGARY, AB, May 12, 2025 /CNW/ - The Opportunity Calgary Investment Fund (OCIF), in partnership with the Government of Alberta (GoA), is investing up to $3.5 million into local companies to drive innovation, job creation, and economic resilience.

The funding will be delivered through a new funding stream — OCIF Express — designed to meet the urgent needs of small and medium-sized enterprises (SMEs). OCIF Express simplifies access to capital by providing faster access to funding for high-impact projects with a lifecycle under 24 months.

"Alberta's government is helping to strengthen Calgary's workforce and business community by investing in the Opportunity Calgary Investment Fund," said Matt Jones, Alberta's Minister of Jobs, Economy and Trade. "The businesses supported by OCIF Express will have the tools they need to train their employees while creating new jobs for Albertans."

The program focuses on job creation and in-house training, giving businesses the tools to hire skilled talent and develop future-ready workforces that enable local companies to grow and create new opportunities for Calgarians.

"Small and medium-sized businesses are the heart of our economy," said Mayor Jyoti Gondek. "Now, more than ever, we need to support small businesses as they face challenges and uncertainty from tariffs. By giving local companies faster access to funding, OCIF Express is supporting job creation and talent development across key sectors that will support our economic future and lead the next chapter of growth."

The projects focus on supporting roles across sectors, including in data science, artificial intelligence (AI), clean energy, aerospace, and advanced manufacturing. The program funds cutting-edge initiatives from local SMEs that leverage technology, helping position Calgary as the innovation capital of Canada.

Calgary is a city forged by innovators, dreamers, and doers, and OCIF Express is designed to help accelerate their impact. Each of these projects is supporting our local economy, fostering innovation, and helping build a strong more competitive workforce," said Brad Parry, CEO of the Opportunity Calgary Investment Fund and President and CEO of Calgary Economic Development. "Through OCIF and the Express program, with expedited access to capital, we are striving to support the elements we need to ensure our city-wide innovation ecosystem continues to flourish."

OCIF Express, supported by $1.2 million from GoA, is funding 23 companies which are expected to create over 150 jobs and train almost 90 Calgarians. Projects were selected based on economic impact and alignment with Calgary's key sectors.

RECIPIENT HIGHLIGHTS

ZayZoon: This earned wage access platform provider will receive up to $250,000 to hire 10 staff, expand its Calgary presence, and enhance its platform, which allows employees to access their earned wages before payday.

"Calgary has always been home for ZayZoon, and support from the OCIF Express funding program helps us deepen those roots," said Tate Hackert, Chief Strategy Officer and Co-Founder of ZayZoon. "We hired more than 100 people last year and this funding will help accelerate even further hiring required for us to deliver flexible access to pay to employees who need it most. It's a big step forward—not just for ZayZoon, but for Calgary's fintech ecosystem."

Carbon Upcycling: This Calgary leader who is using technology to transform millions of CO2 emissions and industrial byproducts into high-value cement, will receive up to $33,750 for leadership training for key staff members.

"Support from the OCIF Express funding program will help Carbon Upcycling strengthen the leadership capabilities that are critical to scaling our impact," said Arlette Watwood, Director of HR & Administration of Carbon Upcycling. "This investment enables us to equip key team members with the skills needed to accelerate our mission of reducing 4 million tonnes of CO2 by 2030. It's a vote of confidence in our work and a reflection of Calgary's position as a global hub for clean technology and industrial innovation."

CoolIT Systems: A Calgary-based leader in data centre cooling technologies will receive up to $385,000 to hire nearly 20 new team members. The added capacity will help the company meet rising global demand for liquid cooling solutions in high-performance computing including artificial intelligence (AI).

"Support from the OCIF Express funding program will help CoolIT Systems advance strategic hiring and capacity-building initiatives," said Jason Waxman, CEO of CoolIT Systems. "This funding enables us to bring on more highly skilled local talent to meet the growing global demand for liquid cooling technology for AI and high-performance computing. It's a meaningful boost to our ongoing growth and underscores the strength of Calgary's innovation and tech manufacturing ecosystem."

MRO Electronics: Specializing in custom aviation cable assembly manufacturing, MRO is set to receive up to $300,000 to support 18 new jobs, fueling its growth in Aerospace, Defense, and Advanced Manufacturing sectors with expanded operations and an enhanced product lineup.

"The OCIF Express Grant is a catalyst for MRO's growth as a globally competitive Canadian manufacturer, enabling our continued expansion in the Aerospace, Defense, and Advanced Manufacturing sectors," said Phil Stiles, Managing Director, MRO Electronic Supply Ltd. "It also strengthens Calgary's Aerospace ecosystem by supporting local talent development and creating high-quality, future-focused careers for Calgarians."

FULL LIST OF OCIF EXPRESS BENEFICIARIES

For more information, visit OCIF's portfolio page.

MEDIA INQUIRIES

Opportunity Calgary Investment Fund
Megan Evans
Manager, Communications
Media line: 403-880-7040
Email: [email protected]

ABOUT OPPORTUNITY CALGARY INVESTMENT FUND

Opportunity Calgary Investment Fund ("OCIF") was created as a wholly owned subsidiary of The City of Calgary in 2018 to support catalytic investments within the city to help diversify and transform the economy. The fund is administered by Calgary Economic Development and has a volunteer Board of Directors. It is vital tool to achieve the goals of the economic strategy and diversify Calgary's economic future.

SOURCE Opportunity Calgary Investment Fund Limited

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Opportunity Calgary Investment Fund Limited