And you want a basement?? Is there some alternate universe without groundwater?

I'm referring to using steel floor joist or a product like Epitome composite foundation walls

Nothing is cheaper for a foundation than concrete. And nothing is more durable, assuming proper design and installation.

How would you use a steel floor joist for a basement foundation?

You have a complete disassociation with real world construction if you think any of that is “cheaper”. If you want an inexpensive build, you stick with the standard building practices. There isn’t much cheaper than concrete for a foundation other than some pier and beam projects. That don’t have basements.

Structural insulated panel (SIP), which would seem to include Epitome, and pressure treated wood (PTW) foundations are a possibility if there are trades who have used them in your area and those foundation types meet your area's Code requirements. PTW foundations are covered under the National Building Code in Canada. There are also pre-cast panel suppliers and installers such as Superior Walls.