The Opportunity Calgary Investment Fund (OCIF)
No specific amount was identified.
Grant, Investment
Description:
Created in 2018, The Opportunity Calgary Investment Fund works to grow and diversify our economy, create jobs and training opportunities, and spurs a wide range of private, non-profit and public sector investments in the city.
Comments on Funding:
Funding is a non-repayable contribution. Stringent reporting requirements ensure the recipients meet the provisions of the agreement to receive the funding. Recipients not in compliance with the terms of the agreement may be subject to repaying all or some of the funds.
Continuous Intake. No specific deadline was identified.
Eligibility:
To qualify for funding, which can account for up to 50 per cent of the proposed project’s budget, the applicant:
Must be registered to do business in Canada
Cannot be an individual
Can be locally, nationally or internationally based
Can be for-profit, non-profit or a public institution
Can be a partnership, although a lead applicant must be identified
To qualify for funding the project must:
Be located in Calgary
Be catalytic and innovative
Create economic benefits and jobs in Calgary
Ineligible costs include but are not limited to:
Working capital
Marketing
Market research
Prototype development
Application Steps:
To join the program you should apply direct in OCIF Portal: https://webportalapp.com/webform/ocifportal-form
Documentation Needed:
No specific document was identified.
Other Things to Note:
For every dollar committed by OCIF, Calgary has received $10 back in additional economic activity, spurring a total of $878 million in economic activity. To date, OCIF has committed $83.9 million to 28 projects. These projects, in turn, have resulted in:
The creation or retention of close to 3,000 jobs
The creation or expansion of 809 companies
$34.3 million in additional funding from other governments and private investors
Absorption of 594,000 square feet of office or industrial space
About the author
Maurice
