Velocity’s new director shares his passion for the startup world

Jay Shah - a former startup co-founder and University of Waterloo alumnus - is the new director of Velocity, Waterloo’s flagship entrepreneurship program. Shah joins Velocity from Google, where he worked since the tech-giant acquired BufferBox, the company he co-founded in 2012.

BufferBox, founded by Shah alongside Aditya Bali and Mike McCauley, began as a fourth-year Engineering Capstone Design project to create lockers for parcel delivery. The company worked out of both the University’s Accelerator Centre and the Velocity Garage; won the Velocity Fund Finals and attended Y Combinator, before ultimately being acquired by Google. Shah starts his role in September with a vision to spread innovation and entrepreneurship across campus.

“With his background at Waterloo, in a startup and at Google, Jay Shah is uniquely positioned to guide the next wave of world-changing entrepreneurs emerging from University of Waterloo,” said Feridun Hamdullahpur, President and Vice-Chancellor of the University of Waterloo.

We sat down with Jay to share his insight on the Waterloo region tech scene, his passion for startups, and advice to future entrepreneurs.

What attracted you to the director role at Velocity?

So many things. Working and being part of a super fast-pace environment. Companies in their earliest stages are often incredibly agile and nimble.

I also want to be able to have a positive impact on the Waterloo region technology scene – specifically to further our region’s ability to punch above its weight both in Canada and Globally.

What do you find most interesting about working in the startup world?

The lack of a rule book. There are no limits and no formula that leads to a successful startup. Across the life of a company, the early stages are when there is the least to lose, meaning you can do things in a way larger companies can’t. Whether that is working the best you can with laws that can’t keep up with the pace of new technology, or simply not needing to worry about external aggression, because there are no “spoils” to be had if you are taken down, there is no formula or methodical process that leads to a successful startup.

What is special about the University of Waterloo ecosystem that seems to help produce so many successful entrepreneurs/tech talent?

The calibre of talent at the University of Waterloo, specifically its professors and new graduates, is a competitive advantage for companies in Waterloo. They are the product of incredible academic faculties, a culture that supports risk-taking, and the best co-op experiential learning system in the world

Looking back on your journey in the startup world, what advice do you have for students just starting out on their own entrepreneurship journey?

Entrepreneurial qualities can be exercised, but to give yourself the “unfair advantage” you’ve got to learn from people that have done it before. Getting and evolving your group of mentors is critical to success in your own journey down the entrepreneurial rabbit hole.

You’ve served as both a Senator and Governor at the University of Waterloo – what drove your interest in being part of these governance bodies?

I was, and continue to be, quite interested in how policy decisions are made as well as long-term strategic planning. Both of those governance bodies were deeply involved in both.

What are some standout lessons from your experience building BufferBox?

1. If your team can’t operate without constant tension, don’t let it fester.
2. Use everything available to support your startup.
3. Be scrappy. Product 1, 2 or 3...aren’t going to be perfect in your eyes, but if a user need is being solved then get it in front of users.
4. Outwardly, you may want to look like a sophisticated company for recruiting and/or partnerships, but inwardly you should do everything possible to operate as nimbly as possible.

At a high level, what are your goals for Velocity?

I am keen to work with stakeholders across our region for maximum output and benefit. We are fortunate to have so many people and organizations that want to see entrepreneurial activities flourish, but with that, comes a responsibility for all of us to make the most of the resources we have together.

I want to ensure that all students have the opportunity to be exposed to the entrepreneurial spirit and mindset. Even if students do not want to start a company, there is a lot of benefit in the fundamental principles, such as problem identification and solving, resourcefulness, tenacity, and persistence.