Calgary’s Opportunity Calgary Investment Fund will provide up to $1.5 million over three years to the MindFuel Foundation to expand youth innovation programs, develop new startups and create high-skill jobs in the city.
The investment is expected to help create 14 Calgary startups, three direct high-skill jobs at MindFuel and 60 indirect high-skill jobs within Calgary startups, according to a recent announcement.
The funding will support expanded programming to help young people develop entrepreneurial skills, advance prototypes and pursue commercialization opportunities. It will also fund the creation of the MindFuel Institute, a new founder development and venture creation program for participants with strong innovation and commercialization potential.
Funding targets startup development
The investment will also strengthen connections between young innovators and Calgary’s business and technology communities through MindFuel’s Connect2Innovate-AI platform.
The platform provides access to mentorship, industry experts, internship and funding opportunities, as well as practical experience to help participants develop prototypes.
Calgary Mayor Jeromy Farkas said the programs could help young entrepreneurs establish careers and businesses in the city.
"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 Farkas. "MindFuel's program can help them develop the skills and connections needed to build a career and a life in Calgary."
The Opportunity Calgary Investment Fund, a wholly owned subsidiary of the City of Calgary established in 2018, invests in initiatives intended to diversify the local economy, create jobs and training opportunities, and attract investment.
Brad Parry, president and CEO of Calgary Economic Development and CEO of the investment fund, said supporting young innovators is important to the city's efforts to build its innovation sector and retain talent.
"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 Parry. "OCIF's investment in MindFuel helps young Calgarians turn those ideas into real companies - creating jobs, solving complex global challenges and strengthening our economy."
MindFuel points to commercialization results
MindFuel works with young people to develop skills, apply knowledge and move ideas toward practical applications. The organization said it has a 79 per cent talent retention rate in Alberta, with alumni contributing to Calgary companies including FREDSense, CalgaryToSpace and While She Is True.
According to the announcement, 13 per cent of youth projects supported through MindFuel's innovation programming have been commercialized in less than four years. Alumni associated with nine projects had raised more than $43 million in venture capital as of September 2025.
Cassy Weber, CEO of MindFuel, said the funding would allow the organization to expand its programs connecting youth innovation and talent development with commercial opportunities.
"MindFuel is committed to developing the next generation of innovators, entrepreneurs and skilled talent who will drive Canada's economic prosperity," says Weber. "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."
The investment builds on programs including the Tech Futures Challenge, which gives students opportunities to apply their knowledge and develop solutions to real-world problems.
Aarushi Bhargava, a Tech Futures Challenge alumna, said her participation in the program helped her develop skills and confidence in science, technology, engineering and mathematics, as well as entrepreneurship.
"My journey with MindFuel began in Grade 10, when the Tech Futures Challenge opened my eyes to possibilities in STEM and entrepreneurship I had never imagined," said Bhargava. "Through the Challenge, Project90 and my internship with MindFuel, I gained the skills, confidence and support to turn ambitious ideas into real-world solutions. That's the power of this investment. When you empower one young innovator, you're not just investing in their future - you're investing in the people they'll inspire, the opportunities they'll create and the communities they'll impact."
Programs connect students with industry
The funding is also expected to broaden access to hands-on learning and talent development opportunities for students.
Steven Schultz, a teacher at Lacombe Composite High School and adviser to the Tech Futures Challenge Team United Robotics of Lacombe Project BeeWise, said the program allows students to apply classroom learning to practical projects. He cited the team's BeeWise Hive Monitoring and Ventilation System, which was displayed at the previous year's challenge.
"There is simply no other program like MindFuel's Tech Futures Challenge. It takes learning beyond the classroom, giving students the opportunity to apply their knowledge, explore innovative ideas, and develop real-world solutions- like the BeeWise Hive Monitoring and Ventilation System our team displayed at last year's challenge. As a mentor, I've seen firsthand how this experience builds confidence, critical thinking and future-ready skills. With OCIF's investment, even more students will have access to these transformative learning and talent development opportunities," said Schultz.
OCIF said it has generated $1.1 billion in economic activity since its inception, representing a 12-fold return on funding committed. The fund also reported supporting more than 1,100 companies and helping create more than 4,300 jobs for Calgarians.