Velocity Fund Flourishes and Continues to Fund Student Startups

Posted by Techvibes NewsDesk

The University of Waterloo's Velocity Fund was established in 2011 following a donation of $1 million by Kik founder and Velocity Residence alumnus Ted Livingston.

The Velocity Fund is a grant program for startups and aspiring entrepreneurs to win funding through competitions held three times per year with four $25K grants for the best companies who are current students or recent alumni who have graduated within the past year.

Late last year, Velocity received a donation from the founders of BufferBox (a previous winner) to encourage the creation of a hardware award given the additional costs to build successful hardware startups.

Now established, the Velocity $10K Hardware award is a grant for the best hardware company who wins the Velocity Fund $25K.

Velocity also awards three $1K grants for very early stage startups with the most innovative business, best pitch and people choice’s.

In March 2014, Velocity received another $1 million donation - this time from renowned Waterloo Region angel investor Mike Stork.

Yesterday at the University of Waterloo the Velocity Fund continued to fund the best student startups.

10 young entrepreneurs started off this season's Velocity event pitching live for three $1K prizes. Out of ten competing companies, Suncayr won two of the awards: Most Innovative and People’s Choice. Boogaloo Bunks won Best Pitch.

The afternoon’s $25K competition drew a huge standing-room-only crowd and in the end, ExVivo Labs, Grobo, MAJiK Systems and Ubiq were awarded gigantic $25K cheques.

Congrats to everyone involved.

Company:
Velocity
Website:
http://velocity.uwaterloo.ca
Location:
Waterloo, Ontario, Canada

At uWaterloo, we believe that there is more to higher learning than a conventional university education. The Velocity Program was created to supplement classes and books with a taste of – and gateway to – successful entrepreneurship, forming a collaborative community of student innovators, leaders and entrepreneurs. From ideation to prosperous startup, Velocity is where our most promising students and alumni... more


blog comments powered by Disqus

Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



Who's Hiring



Recent Comments

Powered by Disqus