Zayzoon, Carbon Upcycling tap into $3.5M OCIF Express program

The Opportunity Calgary Investment Fund (OCIF), alongside the Government of Alberta, has announced a new $3.5 million funding stream, OCIF Express, designed to meet the urgent needs of small and medium-sized enterprises (SMEs). The organization says that OCIF Express will help high-impact, one-year projects access funding more quickly.

The program emphasizes job creation and in-house training, aiming to support businesses in hiring skilled workers and building workforces equipped to meet future needs.

“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.”

Supported by $1.2 million from the province, OCIF Express is funding 23 companies which are expected to create over 150 jobs and train almost 90 Calgarians.

Included in the list of beneficiaries is cleantech company Carbon Upcycling, whose technology is used to transform CO2 emissions and industrial byproducts into high-value cement — it’s an innovation that has had the company recognized as one of the world’s top 100 cleantech companies.

Arlette Watwood, director of HR and administration at Carbon Upcycling said that the funding would help the team strengthen leadership capabilities and support key team members. 

“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,” she continued. 

For Calgary’s Zayzoon, an earned wage access platform provider, the funding will be used to hire 10 new team members, expand the company’s local presence, and continue improving its platform. Zayzoon added 100 people to its staff last year, and chief strategy officer and co-founder Tate Hackert noted that OCIF Express’ investment would allow the organization to continue to build on that momentum. 

Other projects receiving funding from OCIF Express work in areas including data science, artificial intelligence, clean energy, aerospace, and advanced manufacturing.