Source: uWaterloo News Release | January 29, 2014
Start-ups in the the University of Waterloo’s Velocity entrepreneurship incubator program have raised more than $100 million in funding in the 5 years since the initiative was launched. The investments received include funding from venture capitalists, angel investors, government programs, grants from the Velocity Fund, and crowd-funding website Kickstarter. Velocity’s Pebble, the makers of a “smart watch,” raised $10 million on Kickstarter in 2012. Velocity’s milestone announcement follows the launch of the provincial government’s new Northleaf Venture Catalyst Fund, which aims to drive private-sector investment in Canadian companies in the early to middle stages of growth.
TCS Insights: Students with small businesses participating in the uWaterloo Velocity program are being provided with opportunities to reach their entrepreneurial goals through the aid of a variety of sources. Both the university and the Ontario provincial government continue to display a commitment to developing entrepreneurs.