Waterloo Region has built a reputation as one of Canada's premier innovation ecosystems. When the Honourable Wayne Long, secretary of State for the Canada Revenue Agency and Financial Institutions, visited Velocity, the University of Waterloo's renowned startup incubator, the UWaterloo's Student Venture Fund (SVF) had a seat at the table.
The SVF, housed within the School of Accounting and Finance (SAF), is a student-run fund that gives students hands-on experience evaluating and investing in early-stage ventures. Kevin P., an Accounting and Financial Management (AFM) student and SVF member, was in attendance to represent the program and to give Secretary Long a firsthand look at how the SVF operates.
As part of the visit, three early-stage founders pitched their companies: Technology Trace, which develops tracking devices for hospital equipment to reduce loss and improve asset utilization; airfairness, an AI-powered tool that automatically pursues flight delay and cancellation compensation on behalf of passengers; and Swish Solar, which develops self-cleaning solar panel technology that removes dust and snow buildup to improve energy efficiency. The pitches were structured as a showcase exercise, a demonstration of the kind of startup activity Velocity supports and gave secretary Long a vivid sense of the innovation ecosystem taking shape at the University of Waterloo.
University of Waterloo leadership welcomes The Honourable Wayne Long to Velocity.
The Honourable Wayne Long pictured at Velocity visit.
Kevin took the opportunity to brief Long on how the SVF works: how students evaluate ventures, make funding decisions, and develop the skills of capital allocation within one of Canada's most active startup corridors.
"This was a fantastic opportunity for the SVF to showcase its contributions to Waterloo's innovation ecosystem," said Blake Phillips, director of SAF.
The SVF and Velocity are excellent examples of how deeply embedded UWaterloo is in the startup world, reflecting the interdisciplinary spirit the university is known for and forging a direct connection between the people building companies and the next generation of investors learning to fund them.
This was a fantastic opportunity for the SVF to showcase its contributions to Waterloo's innovation ecosystem.