Calgary’s Bow Valley College gets seed funding for creative industries hub – Calgary | Globalnews.ca

An investment fund with the mandate to diversify Calgary’s economy is putting some of its funds toward a new digital media and entertainment arts production program.

On Thursday, the Opportunity Calgary Investment Fund (OCIF) announced a $5.5-million investment will help create the Calgary Entertainment Arts Production Hub at Bow Valley College.

Calgary Economic Development president and CEO Brad Parry called it a “significant investment” in growing the city’s creative economy.

“We’re seeing disruptive technologies reshape how content is created, distributed and commercialized around the world. Emerging technologies in this sector continue to attract more and more capital investment. We’re seeing entirely new creative industries and subsectors emerge,” Parry said.

“This is why we need to foster this incredibly important economic opportunity.”

The hub aims to train people in areas like 3D animation, visual effects, game development, motion capture, augmented and virtual reality, esports and podcasting. The hub is also designed to facilitate business incubation, applied research and engagement.

Nikola Florez, a visual effects student at Bow Valley College, said the studio-grade technology planned for the hub will be a boon for his and his fellow students’ careers.

“When we try these technologies, it’s going to be next to the blockbuster movies. So that is amazing,” Florez said.

Previously a successful director and screenwriter in Colombia, Florez came to the college with an interest in virtual production and to create films to target a wider audience. He said the new hub will help him achieve his dreams.

“The opportunity is the first step to actually be in the industry, it’s the first step to all the students to actually conquer their dreams,” he said.

Bow Valley College’s president and CEO called it a “gamechanger.”

“What we’re going to do is to bring students, bring startups, bring industry expertise, bring investors and other stakeholders in that environment where they can collaborate, where they can network, where there will be knowledge sharing and business partnerships,” Dr. Misheck Mwaba said.

“This space is going to be a space where talented individuals, who might otherwise would never have met, are going to come together, create worlds and characters that most of us can only dream of.

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“This cross-pollination of ideas and collaborative approach to creation will make Calgary a player in the creative economy.”

The first phase of construction is expected to be completed by the end of the year, with the second phase to be completed in 2025.

Mwaba described OCIF’s investment as “seed funding” to help the college build an area of the creative sector that’s anticipated to grow. He said the college has started conversations with the federal government and from industry for future funding.

“For us, we are looking at how do we scale? And if we are going to scale, then we have to look at other resources that can help us actually scale.”

Between 2024 and 2028, the hub expects to train 675 people and support more than 125 companies. OCIF said those efforts could create more than 300 jobs.

Mayor Jyoti Gondek said she anticipates the hub will benefit the city’s downtown.

“This announcement today absolutely feeds into our downtown revitalization strategy,” the mayor said. “It feeds into our belief that if you bring a strong component to your core that draws people to it, you are able to make sure that your downtown is vital.”

The Calgary Entertainment Arts Production Hub is one of dozens of investments made by OCIF, an arms-length subsidiary of the City of Calgary created in 2018 in an initial funding amount of $100 million.

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