OCIF invests up to $1 million in Xpand Commercialization Hub to accelerate defence and dual-use tech

The Opportunity Calgary Investment Fund (OCIF), PrairiesCan, and Boeing Canada are investing in a project valued at $9 million into the Xpand Commercialization Hub by ConvergX, a first-of-its-kind initiative designed to accelerate the commercialization of dual use technologies for both civilian and defence applications.  

Bringing technologies to commercialization

For years, Calgary innovators have developed world-class technologies but faced barriers getting them to market. This three-year strategic investment directly addresses that gap by helping proven, later-stage companies scale their technologies faster through targeted programming that supports large-scale commercial deployment.  

“Calgary companies have long been at the forefront of dual-use technologies and innovation. By investing in the Xpand Commercialization Hub, we can help them scale faster and make a bigger impact — positioning our city as a key player in Canada’s defence future,” said Brad Parry, CEO, Opportunity Calgary Investment Fund and President and CEO, Calgary Economic Development. 

Creating economic opportunities for Calgary

By developing commercialization for dual-use technologies that apply across defence, energy, life sciences, aerospace, cybersecurity, and agriculture, the Xpand hub will unlock new economic opportunities, create high-value jobs, and attract private investment into Calgary’s growing innovation economy.  

“By harnessing Alberta’s expertise in advanced manufacturing and technology, we’re creating good jobs, driving economic growth, and ensuring our Armed Forces have the tools they need to keep Canadians safe. Together, we’re building a stronger, safer, and more resilient Canada,” said The Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada. 

Over three years, Xpand is expected to support 30 companies, create 100 high-value jobs, generate $30 million in new revenue for supported companies, and attract $10 million in private investment.  

Alignment with National Priorities

This initiative aligns with the Government of Canada’s renewed focus on defence and the North Atlantic Treaty Organization’s (NATO) objective of reaching five per cent of GDP in defence spending by 2035, underscoring how Calgary readiness to contribute to our nation’s defence, innovation, and security capabilities.  This investment also strengthens the city’s position as a NATO-aligned dual-use technology hub, leveraging an existing ecosystem of more than 300 businesses in defence and aerospace. 

“Boeing is dedicated to advancing the aerospace sector and supporting the Canadian defence community,” said Al Meinzinger, president of Boeing Canada. “Through the Xpand initiative, we are not only investing in new and exciting technology but also in the future of Alberta’s aerospace industry.” 

Supporting the nation and innovation ecosystem

Companies supported through Xpand will engage directly with the Department of National Defence, Canadian Armed Forces, NATO, and original equipment manufacturers to reduce time-to-market by 50 per cent.  

“Together, we’re shortening the distance from innovation to impact – driving new revenues and jobs, strengthening Canada’s aerospace and security ecosystem, and building sovereign capability,” said Kimberley Van Vliet, Founder and CEO, ConvergX. 

OCIF’s past investments have also supported key innovation partners, including the Aviation Innovation Hub, Quantum City through QAI Ventures, and the Southern Alberta Institute of Technology’s NATO DIANA labs—further establishing Calgary as a global centre for advanced technology and commercialization.