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Calgary investment organization receives $850K to support entrepreneurs

From left to right: Colleen Pound, Proxure; Deana Haley, Calgary Economic Development; Vanessa Stockbrugger, National Bank; Dr. Terry Rock, Platform Calgary; and Oladipupo (Dipo) Alli, Migr8. (Courtesy: Opportunity Calgary Investment Fund ) From left to right: Colleen Pound, Proxure; Deana Haley, Calgary Economic Development; Vanessa Stockbrugger, National Bank; Dr. Terry Rock, Platform Calgary; and Oladipupo (Dipo) Alli, Migr8. (Courtesy: Opportunity Calgary Investment Fund )
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A Calgary-based investment organization has received an infusion of $850,000 to help connect investors with local startups.

The Opportunity Calgary Investment Fund (OCIF) will provide up to $400,000 over 28 months to Platform Calgary for the National Bank Investor Hub, the organization announced Thursday.

Platform Calgary works with tech companies to help connect entrepreneurs with a network to help launch and grow startups.

“The National Bank Investor Hub helps broaden the city’s investor pool and creates more opportunities for Calgarians to build their companies,” OCIF said in the release.

“This investment will be used to engage and educate up to 40 investors and connect them to Calgary startups.”

The funds will support Calgary-based startups led by underrepresented founders and those with missions centred on equity, diversity, inclusion and accessibility.

“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,” Brad Parry, CEO of OCIF and president and CEO of the Calgary Economic Development, said in the news release.

Alongside the OCIF investment, the Government of Canada, via the Prairies Economic Development Canada (PrairiesCan), is also investing $450,000 to attract new investors for Calgary’s tech companies.

The National Bank Investor Hub is expected to help support around 100 small and medium-sized tech companies.

“This investment in Platform Calgary’s Investor Hub will help Alberta’s tech entrepreneurs to bring their ideas to market while working to build a sustainable economy for Albertans,” said Dan Vandal, minister for PrairiesCan.

The project has received a total of $1.23 million to date, from the National Bank of Canada, PrairiesCan, Platform Calgary and the Opportunity Calgary Investment Fund.

Visit OCIF’s website for more details.

Correction

This story previously incorrectly stated $950,000 would be provided to help support entrepreneurs. The actual figure is $850,000.

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