This term's 10 Velocity Fund finalists are tackling real-world challenges from developing better products based on customer feedback to making software development and design easier.
Four teams of entrepreneurs could soon see their names on a big cheque to help grow their ideas. This week, University of Waterloo startup incubator Velocity revealed the 10 finalists competing for a share of $100,000 in grant funding at this term's Velocity Fund Finals on March 27.
The teams will pitch their ideas for a chance to win one of four grants of $25,000 and a place among the 30+ startups operating at the Velocity Garage in downtown Kitchener.
“The Velocity Fund Finals showcase some of the best innovations, business ideas and entrepreneurs coming out of the University of Waterloo,” said Mike Kirkup, director of Velocity. “This early-stage funding helps the startups grow at an accelerated pace, reach markets sooner, and further attract investment and support to become well-established businesses.”
Code Connect - a plug-in for Microsoft Visual Studio that dynamically visualizes program control flow as the developer types, making software development and design easier.
Homefed - a trusted intermediary that facilitates the discovery, booking, and payment of home cooked meals, food events, and edible goods.
LastRev - makes it easy for designers to get feedback on their designs from team members.
MAJiK Systems - builds real-time machine monitoring software for factories and machine manufacturers.
Palette - a freeform hardware interface that can be built like Lego to control your favourite software.
PetroPredict - a well integrity prediction engine for the oil and gas industry that enables subsurface engineers to identify low capital, high reward optimization opportunities in their fields.
Roshee - allows companies to manage every step of the corporate purchasing process in one place.
Sparkgig - an online marketplace for hiring performers.
TicketLabs - provides an e-ticketing platform that uses social tools to drive ticket sales.
TrendRadius - provides product management software as a service, including market insights and analytics, for companies to create profitable products that their customers love.
To qualify as a finalist, each startup submits a written proposal and presents a 3-minute pitch to a panel of judges from the Velocity community. The ten finalists then take to the stage to present 3-minute pitches before a live audience and a second panel of judges from the business community.
The judges for the $25,000 competition include:
An additional ten entrepreneurs from the University of Waterloo will pitch their early-stage startup ideas for one of three $1,000 grants.
At least one founder on a team must be a current student or a graduate of the University of Waterloo within the past year.
The Velocity program fosters entrepreneurship by providing University of Waterloo students with opportunities for startup funding, free workspace, workshops, networking opportunities and access to mentors. Entrepreneurs' ideas remain their own -- Velocity takes no intellectual property rights or equity in return.
The Velocity Fund awards Waterloo students more than $300,000 in grants each year and the opportunity to build their startups at the Velocity Garage workspace in downtown Kitchener. The fund was started in March 2011 following a donation of $1 million from Ted Livingston, founder of Kik Interactive,and former Velocity resident.
Date: Thursday, March 27, 2014
Time: $1,000 competition starts at 11 a.m., $25,000 competition starts at 1 p.m.
Location: Student Life Centre – Great Hall, University of Waterloo, 200 University Avenue West, Waterloo, Ontario
A live stream of the Velocity Fund Finals will be available.
Media who wish to attend should register by emailing Nick Manning at nmanning@uwaterloo.ca.
