Velocity Programs Welcome Largest Number of Incoming Companies to Date

WATERLOO, ON--(Marketwired - October 06, 2014) - In September, Velocity, an entrepreneurship initiative from the University of Waterloo, welcomed 29 new companies to its Velocity Garage, Velocity Foundry and Velocity Science programs.

These new startups will join 25 existing companies in an engaging community that fosters entrepreneurship while helping to turn ideas into sustainable businesses. Velocity focuses on peer mentorship, resource access and expert guidance for new businesses.

"This marks the largest expansion in Velocity's history. The Velocity program helps students and entrepreneurs at all levels, from our Velocity Residence and Alpha programs for University of Waterloo students, to our programs aimed specifically at startups," said Mike Kirkup, director of Velocity. "The peer networking and support that we are able to offer, our mentorship programs and the resources and facilities we can provide to these companies really sets our program apart."

The new Velocity companies are working on solutions in a wide array of industries including manufacturing, healthcare, entertainment, sports, auto-tech and more. One new company, EyeCheck, is focused on providing eye care for developing countries, while another, called MAJiK, is providing real-time, machine-monitoring solutions. Suncayr is developing a UV-responsive marker, so anyone can quickly see when it's time to reapply sunscreen. For more information on each company, please visit our sites: Velocity Garage, Velocity Foundry and Velocity Science.

The New Companies

• AvidBots
• Boogaloo Bunks
• CodeConnect
• Doppel
• EyeCheck
• ExVivo Labs
• Grobo
• HWKI
• Labforge
• Maieutic
• MAJiK
• Max Mixology
• Medella
• Meshlytics
• MetaLux
• NERV
• Nicoya Lifesciences
• Perceptiv Labs
• Pout
• Qidni
• Small Ideas
• Smarter Alloys
• Suncayr
• Talleyfi
• Tapcelerate
• Tempest Insight
• TicketFi
• Vitameter

Velocity Foundry Opens
Velocity also officially opened its Foundry program, which provides resources and support for startups in the hardware, material and life sciences spaces. The Velocity Foundry is 11,000 square-feet of incubation space for companies to develop, build, test and launch their ideas.

"The response to the Velocity Foundry opening has been amazing," said Peter Heuss, associate director of Velocity Foundry. "In the first month we have welcomed 25 companies. We have a great group who are in various stages of their business and I welcome the new companies to our program."

Velocity Fund Finals Begin
One of Velocity's initiatives, the Velocity Fund Finals, a competition for entrepreneurs in-the-making and tech-focused start ups kicks off this week as applications open for both the Velocity Fund Finals $5K and the Velocity Fund Finals $25K. This competition provides early seed money for people to take their great ideas to the next level.

For more information on the Velocity Fund Finals, please visit our website: velocityfundfinals.ca.

About the University of Waterloo
In just half a century, the University of Waterloo, located at the heart of Canada's technology hub, has become one of Canada's leading comprehensive universities with 35,000 full- and part-time students in undergraduate and graduate programs. Waterloo, as home to the world's largest post-secondary co-operative education program, embraces its connections to the world and encourages enterprising partnerships in learning, research and discovery. In the next decade, the university is committed to building a better future for Canada and the world by championing innovation and collaboration to create solutions relevant to the needs of today and tomorrow. For more information about Waterloo, please visit www.uwaterloo.ca.

Attention broadcasters: Waterloo has facilities to provide broadcast quality audio and video feeds with a double-ender studio. Please contact Nick Manning on 519-888-4451 or 226-929-7627 for more information.

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