The Opportunity Calgary Investment Fund (OCIF) will provide up to $1.5 million over three years to the MindFuel Foundation to help young innovators turn ideas and prototypes into Calgary startups.
The investment aims to support the creation of 14 Calgary startups, three direct high-skill jobs within MindFuel and 60 indirect high-skill jobs at local startups.
Funding will support the creation of the MindFuel Institute, a new founder development and venture creation program for participants with strong innovation and commercialization potential. The initiative will expand MindFuel’s programming to help youth develop the skills needed to launch companies and pursue careers in Calgary’s innovation economy.
“Calgary’s youth are central to our city becoming the innovation capital of Canada, and our future success depends on our ability to support and retain bright minds and big ideas,” said Brad Parry, President and CEO of Calgary Economic Development and CEO of OCIF. “OCIF’s investment in MindFuel helps young Calgarians turn those ideas into real companies — creating jobs, solving complex global challenges and strengthening our economy.”
The funding will also strengthen connections between participants and Calgary’s innovation ecosystem through MindFuel’s Connect2Innovate-AI platform. The platform connects youth with mentors and industry experts, internship and funding opportunities, and hands-on experience to support prototype development.
For Calgary, the investment is intended to bridge the gap between early experimentation and commercialization while helping retain emerging entrepreneurs.
“The next generation of innovators and entrepreneurs will shape Calgary’s economy. We need to ensure they have more opportunities to stay, succeed and grow their companies in our city,” said Calgary Mayor Jeromy Farkas.
MindFuel reports a 79 per cent talent retention rate in Alberta. Its alumni have contributed to the development of Calgary organizations including FREDSense, CalgaryToSpace and While She Is True.
“With OCIF’s support, we will expand youth innovation and talent development pathways, transforming promising ideas into real-world solutions, commercial opportunities and economic growth for Calgary,” said MindFuel CEO Cassy Weber.
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