Earlier this year, the Narwhal Project released their annual Narwhal List, which tracks Canadian technology companies that are on their way to unicorn status based on their billion-dollar annual revenues.
The Narwhal Project has evaluated more than 900 Canadian technology companies that have received more than $10 million dollars of capital. Recognizing four Waterloo companies — ApplyBoard, Avidbots Corp, Auvik Networks and eSentire — as some of the fastest-growing Canadian technology companies.
The University of Waterloo is recognized as a market leader in innovation and entrepreneurship. Waterloo’s innovation ecosystem is unique because it provides budding student entrepreneurs with access to for-credit programs along with support, mentorship, funding and connections in a collaborative environment of more than 45 programs, which includes Velocity.
Among the four recipients, ApplyBoard and Avidbots are alumni companies incubated by Velocity. Now, the four Waterloo startup companies are on track towards billion-dollar annual revenues.