President’s message

Turning ideas into actions.

Dr. Vivek Goel

President and Vice-Chancellor, University of Waterloo

Since its inception, the University of Waterloo has been home to a community that inspires innovation, creativity and curiosity. These attributes have forged an entrepreneurial culture and ecosystem that empowers change-makers to take their ideas and turn them into reality.

Today, student innovators can access for-credit programs alongside resources and support in a collaborative environment of nearly 50 entrepreneurship programs that includes Velocity.

Velocity plays an integral role in the University’s entrepreneurial ecosystem and helps students turn their ideas into actions by connecting them with a founder network, authentic business expertise, product development know-how, access to space to build, and risk-tolerant capital. Velocity’s track record over the past 15 years is extraordinary. More than 400 companies have been incubated through Velocity. Those companies now have a collective enterprise value of $36 billion. Equally as impressive, those companies have created thousands of jobs. Velocity is one of the reasons Waterloo is ranked first in Canada and 21st globally for founders according to PitchBook 2023. These startups are providing solutions to a wide breadth of sectors from using quantum technology to safety proof the future and rapid testing for disease diagnosis to infusing artificial intelligence into educational curriculum to prepare the workforce of tomorrow.

Velocity’s startups and entrepreneurs are not solely focused on technological innovation and profitability. While Waterloo is a technology leader, our change-makers also understand the need for social innovation through advancing ethical and responsible technology to serve the good of humanity. By collaborating with our community partners, ventures founded in our region are making a global impact while staying rooted here.

The sustained success of Velocity is a testament to the ideas and perseverance of countless founders and the support they receive along their journey. The University of Waterloo is a special place because founders have the freedom to build upon their curiosity and ideas. They are able to push the envelope of what is possible and help make the world a better place for all.