The Opportunity Calgary Investment Fund (OCIF) announced today it will provide up to $400,000 to Platform Calgary to support the National Bank Investor Hub to unlock capital for underrepresented founders.
The National Bank Investor Hub helps broaden the city’s investor pool and creates more opportunities for Calgarians to build their companies.
This investment, over 28 months, will be used to engage and educate up to 40 investors and connect them to Calgary startups. The Investor Hub will provide targeted support to microfunds that focus on investing in early-stage, Calgary-based startups led by underrepresented founders and/or with missions centred on equity, diversity, inclusion and accessibility (EDIA).
Located at the Platform Calgary Innovation Centre, the Investor Hub is a point of entry to Calgary’s early-stage tech sector for investors and a place for startups to connect with these investors. The Hub engage investors through education and connection opportunities, including pitch and networking events, educational programming, coaching and more.
“OCIF is one of the most effective tools Calgary has to help ensure our economy is diversified and resilient,” said Brad Parry, CEO, Opportunity Calgary Investment Fund and President and CEO, Calgary Economic Development.
“This investment will help Calgary startups access capital sooner, reduce barriers for new investors to enter Calgary’s innovation scene and create more opportunities for Calgarians to achieve their biggest ambitions.”
The Government of Canada, through Prairies Economic Development Canada (PrairiesCan), is also investing $450,000 to attract new investors for Calgary’s technology companies and facilitate new connections between tech entrepreneurs and investors in the community.
Over the next three years, the National Bank Investor Hub is expected to help support about 100 small and medium-sized technology companies.
“Calgary’s tech sector is emerging as one of the fastest growing in the world,” said Terry Rock, President and CEO, Platform Calgary. “By creating better linkages between startups and investors, we can continue our momentum to establish Calgary as the best place in the world for anyone to start and grow a tech business.”
To date, OCIF has allocated more than $84 million to 29 projects, which has created or retained almost 3,000 jobs, created or scaled over 800 companies, attracted $34 million in additional funding from government partners and generated almost $900 million in economic activity – a 10 times return on funds committed.
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