The University of Waterloo celebrated the official opening of the expanded Velocity Garage, making UWaterloo home to the largest free startup incubator in the world.
Now occupying 37,000 square feet, the Velocity Garage offers workspace for up to 120 startups to work and collaborate, as well as business mentorship, equipment, and a vibrant startup community. The expanded facilities include a new wet laboratory, assembly space, workshop, and prototyping lab for startups developing hardware and science innovations. The Velocity Garage houses software, hardware, life-sciences and social entrepreneurship startups—formerly housed in separate buildings— together under one roof.
“What is happening here is important, not just to our community, but also the world,” said Feridun Hamdullahpur, president and vice-chancellor of Waterloo. “Velocity companies continue to be leaders in solving important, global problems, while building sustainable businesses along the way.”