CALGARY,
AB, July 25, 2024 /CNW/ - The Opportunity
Calgary Investment Fund (OCIF) will invest $996,000 over three years into Southern Alberta Institute of Technology's (SAIT)
Alternative Construction Technologies (ACT) Hub to accelerate the
development of new construction and manufacturing materials and
processes.
As part of the Centre for Innovation and Research in Advanced
Manufacturing and Materials (CIRAMM), which is one of four
specialized centres of SAIT's Applied Research and Innovation
Services, the ACT Hub is expected to support 36 Calgary companies
and train 24 individuals from 2024 to 2027.
"With the type of population growth Calgary is experiencing, the construction
sector is critical in delivery of housing," said Calgary Mayor Jyoti
Gondek. "OCIF's investment in the ACT Hub will ensure the
construction and manufacturing sector can see long-term growth
based on emerging technology, adding to Calgary's momentum of building a resilient
city and diverse economy."
The support from OCIF's investment will foster opportunities for
local small-and-medium-sized-enterprises (SMEs) to present their
challenges to researchers and students who develop, test and
validate new solutions that can be directly applied in the
industry. By utilizing the space and technology at the ACT Hub,
this collaboration will spur innovative solutions for the
construction industry to develop cutting-edge manufacturing
technologies and materials science.
The ACT hub will fuel innovations such as robotic technologies
in the prefabrication of houses, automated modular construction, 3D
printing of structures and the development of carbon-negative
building products. Additionally, the ACT Hub will focus on
upcycling construction materials and creating new green composite
materials for various construction applications.
"OCIF's mandate is to help Find, Fuel and Foster Innovation in
our city and through this investment we will see even greater ties
between industry, our post-secondary institutions and more
importantly will allow students to gain hands on experiences while
building the technologies of the future," said Brad Parry, CEO, Opportunity Investment Fund and
President and CEO, Calgary Economic Development.
"OCIF is one of the most effective tools Calgary has to help ensure our economy is
diversified and resilient and by championing collaboration among
Calgary's bright minds, the ACT
Hub will amplify innovative industry-driven solutions for our
construction and manufacturing industries."
As Calgary continues to
experience rapid growth, advancements in these fields will create
resources for manufacturing companies, developers and construction
materials suppliers to meet the city's emerging infrastructure
demands. This aligns with the priority in Calgary's economic action plan,
Uplook, to advance innovation through the real-world
application of new solutions. This strategic investment aims to
enhance construction projects efficiency, improved quality, reduced
cost and minimized environmental impact.
To aid in the adoption of these technologies, the hub will
provide opportunities for students to work with state-of-the-art
equipment, develop new technical skills and collaborate with
industry.
"This funding will provide Calgary's construction sector valuable access
to manufacturing and materials expertise, as well as specialized
research facilities," said Vis Naidoo, Associate Vice President,
Continuing Education and Professional Studies, SAIT. "As one of
Canada's top research colleges,
SAIT is well-positioned to partner with the construction industry
as they enhance their efficiency, sustainability and
production."
OCIF joins PrairiesCan, the Natural Sciences and Engineering
Research Council of Canada
(NSERC) and Alberta Innovates as key funders of the ACT
Hub.
To date, OCIF has allocated nearly $84 million to 30
projects, which has created or retained over 3,000 jobs,
created or scaled over 800 companies and generated almost
$900 million in economic activity – a
10 times return on funds committed.
Learn how the Opportunity Calgary Investment
Fund is helping diversify Calgary's economic future.
ABOUT OPPORTUNITY CALGARY
INVESTMENT FUND
Opportunity Calgary Investment Fund ("OCIF") was created as a
wholly owned subsidiary of The City of
Calgary in 2018 to support catalytic investments within the
city to help diversify and transform the economy. The fund is
administered by Calgary Economic Development and has a volunteer
Board of Directors. It is vital tool to achieve the goals of the
economic strategy and diversify Calgary's economic future.
ABOUT SAIT
Established in 1916, SAIT was the first of its kind, publicly
funded technical school in North
America. As a global leader in applied education and
research — serving nearly 40,000 students annually — SAIT offers
certificate, diploma, post diploma, apprenticeship and applied
degree programs, baccalaureate degrees, corporate training and more
than 1,000 continuing education courses, along with four dedicated,
award-winning areas of research and capacity for new and emerging
research. Curriculum and research priorities are developed through
industry partnerships to ensure graduates have the skills and
knowledge required to fulfill the demand for talent. SAIT is
honoured to be recognized by Mediacorp Canada Inc. as one of
Alberta's Top Employers for 2024,
and to be ranked sixth by Research Infosource Inc. in the Top 50
Research Colleges in Canada for
2023. CEOWORLD Magazine ranked the SAIT School of Business #49 on
the list of Best Business Schools in the World for 2024, and the
School of Hospitality and Tourism placed #14 on their list of Best
Hospitality and Hotel Management Schools in the World for 2024.
For more information, contact:
SAIT
Kate Laverdure
Senior Communications Specialist
403-630-6152
kate.laverdure@sait.ca
SOURCE Opportunity Calgary Investment Fund Limited