Fastest-growing startups feature Waterloo alumni

Wednesday, November 27, 2019

Companies founded by Waterloo Engineering graduates took the top three spots in the 2019 rankings of the fastest-growing technology startups in Canada by professional services firm Deloitte.

First spot on the list, based on a three-year growth rate, was ApplyBoard, a Kitchener-based company with a platform to help international students apply to high schools and post-secondary institutions in North America.

Martin Basiri, left, poses with his award with Dean Pearl Sullivan.

Martin Basiri, founder of startup ApplyBoard, receives an award earlier this month from Pearl Sullivan, dean of Waterloo Engineering.

Martin Basiri (MASc ’13, mechanical engineering) launched the company, which had a three-year growth rate of more than 12,000 per cent, after working to bring his two brothers over from their native Iran to study in Canada.

Earlier this month, Basiri was recognized with the Young Alumni Achievement Medal at the annual Waterloo Engineering Awards Dinner.

“Go for it – and don’t have a plan B,” he told a crowd of more than 350 people at Federation Hall. “The main reason people fail is because they have a plan B. Focus on your plan A.”

Second spot on the 2019 Deloitte Technology Fast 50 list was held by Intellijoint Surgical, which makes technology to improve hip replacement surgery. Its co-founders are Armen Bakirtzian (BASc ’08, mechatronics engineering), Andre Hladio (BASc ’08, mechatronics engineering, MASc ’11, electrical and computer engineering) and Richard Franson (BASc ’08, mechatronics engineering).

Auvik Networks, a network monitoring and management software developer for IT managed service providers, was ranked the third fastest-growing technology startup in the country. It was co-founded by Marc Morin (BASc ’87, electrical engineering).

Three other companies with Waterloo Engineering founders also cracked the top 50.

Tulip, which ranked 14th, was co-founded by Ali Asaria (BASc ’05, computer engineering). Smile.io, co-founded by Bill Curtis (BSE ’11, software engineering), was number 28. Vidyard, co-founded by Michael Litt (BASc ’11, systems design engineering) and Devon Galloway (BASc ’10, systems design engineering) was ranked 39th.

Click here for the full story on an impressive showing by all University of Waterloo alumni.