The University of Waterloo and Velocity are officially expanding their presence in downtown Kitchener today with a groundbreaking event at the new Innovation Arena building on Waterloo's Health Sciences campus.
The new site is part of Waterloo's expanding pipeline for health innovation in southwestern Ontario, thanks to funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Ontario's provincial government, the City of Kitchener and philanthropic gifts.
Ontario Premier Doug Ford attended the groundbreaking ceremony and announced the province's investment of $7.5 million in the Innovation Arena.
The Innovation Arena will feature collaborative spaces to inspire partnerships and facilitate exchanges between businesses, founders, researchers and community partners. The space will also be the new home of Velocity, Waterloo's signature entrepreneurship program. The new, purpose-built space will allow Velocity to streamline commercialization, fast-track entrepreneurs, and support the global economy.
Read more about how this new space will fast-track entrepreneurs and accelerate commercialization.