Waterloo startups well represented in the top 100 tech companies to watch for

Startups supported by the University of Waterloo’s flagship incubator, Velocity, along with others founded by alumni and students are well represented on the FoundersBeta Top 100 Tech Companies to Watch for in 2022. FoundersBeta is a global network of more than 5,000 founders, students and professionals interested in connecting around and building startups. The 2022 list profiles over 100 companies, and about a third of them have connections to the University of Waterloo. The list highlights founders who are solving unique problems, disrupting industries and bringing new and innovative ideas to market.

Three companies with strong Waterloo connections listed in the top 10

Able Innovations, listed at #2, is a Velocity company founded in 2018 by Jayiesh Singh and Philip Chang. Recognizing that transferring patients is a dangerous and labour-intensive task, they have developed robotic technologies that automate patient transfers and protect front-line workers from injuries.

Uvaro founders in black shirts against a colourful background

Uvaro founders Donna Litt, Derek Hall and Joseph Fung (BASc ’07)

Uvaro, listed at #7 was founded by Waterloo alumnus Joseph Fung (BASc ’07) and co-founders Derek Hall and Donna Litt. After realizing that the old approach to tech hiring was broken, and that traditional education institutions can’t always keep up with the rapidly changing workforce, they partnered with leading tech companies and developed sales training programs led by instructors who have hands-on experience in the field.

“The Great Resignation has had a profound impact on workers and employers,” Fung says. “Millions of people across North America have left their jobs, seeking a more fulfilling career. At the same time employers are waking up to the critical importance of building a more inclusive and diverse workforce. Uvaro sits at the intersection of this massive sea-change. In giving individuals barrier-free opportunities to new and ongoing career success we are turning the Great Resignation into the Great Awakening, and it's tremendously fulfilling work for everyone on our team.

“We are incredibly honoured to be recognized for the work we do,” Fung continues, “and to be named to the Founders Beta ‘Top 100 Tech Companies to Watch in 2022’ and we look forward to achieving our goals and beyond in the coming year.” 

MedMe Health, listed at #9 is a Velocity company founded by alumus Rui Su (PharmD ’18), Purya Sarmadi and Nicholas Hui. They are helping pharmacists shift beyond traditional retail models to provide more healthcare services for people in their communities. The company’s all-in-one software platform is used by over 3000 community pharmacies and helps pharmacists streamline workflows, build patient relationships and diversify revenue.

MedMe Founders sitting on a couch

MedMe Health founders Purya Sarmadi, Rui Su (PharmD ’18) and Nicholas Hui

“We are so grateful for the support, insight, and learning that the Velocity ecosystem has given us,” says Purya Sarmadi, Co-Founder and CEO of MedMe Health. “From the early days of our journey, Velocity helped us really hone in our value proposition and ignore vanity metrics, focusing on what’s most important for an early-stage company. We’re constantly inspired and excited to grow alongside the incredible founders in this community building innovative solutions for some of the toughest problems.”

The ten Velocity companies that made the list were profiled on the Velocity blog.