Entrepreneurship

Digital Health 2024 at Stanford University showcased successful collaborations among tech and life science companies, government organizations and academia in advancing digital health solutions. As health technologies evolve, they present unprecedented challenges and opportunities to improve patient care and individual health outcomes. From remote monitoring to artificial intelligence (AI) diagnostics, these technologies facilitate data collection, analysis and innovative life-changing therapies.

Empowered by a network of peers and advisors, nearly 20 Velocity-linked founders pitched to international investors, pharmaceutical companies and other global med tech stakeholders at the recent Ontario Biosciences Innovation Organization’s Investment Summit in Toronto.  

Rapid technological progress is reshaping health care on a global and personal level. Artificial Intelligence (AI) is reshaping the future of health by enabling predictive analytics, personalized treatment plans and medical image analysis. By 2027, the global AI in health care market is expected to reach $51.3 billion USD, as AI-driven solutions become increasingly integrated into health practices globally.

Announced at Times Higher Education (THE) Digital Health 2024 summit in Stanford, California, the University of Waterloo will take up the banner as host of next year’s Digital Health summit. The event, slated for April 10 to 11, 2025, will mark an important occasion in the University's continued commitment to pushing the boundaries of health care delivery through technological innovation.

President and Vice-Chancellor Vivek Goel underscored Waterloo's commitment to sustainable and responsible innovation in a video message.

Tenomix, a pioneering medical technology company at Velocity, University of Waterloo’s startup incubator, successfully closed a $2 million all-Canadian seed funding round that will help develop a groundbreaking robotics system designed to improve the accuracy of colon cancer staging.

There’s an irony to air conditioning.  

Traditional air conditioners condense water out of the air, a very energy-intensive process which pumps greenhouse gases into the environment. So, as we cool our indoors, we heat the climate even more.  

Velocity-based company Evercloak can break this cycle. The clean-tech startup has raised $2 million from Bioindustrial Innovation Canada, Greensoil Proptech Ventures, GroundBreak Ventures, Ontario Centre for Innovation (OCI) and angel investors.  

The Government of Canada announced on February 22

Velocity-linked software company Float has secured $50 million in financing from Silicon Valley Bank to expand its financial services offerings to customers.  

The startup, which specializes in full suite corporate expense management software and cards, simplifies finance teams’ management of expense accounting. It serves businesses of up to 500 people, and some of Float’s 3,000-plus corporate clients include Neo Financial, Knix, Clutch and Nerva Energy.  

With an interest in academia and activism, Aaron Francis, a PhD candidate in the Global Governance program at the Balsillie School of International Affairs, stands out as an example of flourishing in every chapter of his life.

Giving formal academic credit and recognition for building social ventures could be game changing for students and the social innovation landscape, paving the way for many more ideas, initiatives and ventures.