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Waterloo EDC Blog

News roundup: Eight exciting business and investment stories from November 2019

Posted by Waterloo EDC on December 2, 2019

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Waterloo often has a lot to celebrate when “report season” comes around, but this month was particularly exciting. With newly published reports bolstering our post-secondary institutions, tech talent and local business ecosystem, November was a big month!

Here are eight business and investment stories from the last month:

1. Three Waterloo start-ups top the 2019 Deloitte Technology Fast 50

Waterloo companies claimed the top three spots on Deloitte’s Technology Fast 50. The report ranks companies by revenue-growth percentage from 2015-2018 – highlighting their commitment to innovation and continued prosperity. In fact, 14% of the companies (a total of six) on the list have Waterloo operations. Curious to know which Waterloo companies topped the list? We wrote a piece about the report. For more coverage check out Betakit’s article.

2. Waterloo landed 4th place in CBRE Scoring Canadian Tech Talent Report

CBRE released its 2019 Scoring Canadian Tech Talent Report and Waterloo was very well represented! Our tech community’s unrivaled quality of talent and cost advantages in salary and real estate earned us 4th place out of 19 cities. Find out how Waterloo gives big tech hubs competition in a piece we wrote and to download Download the Waterloo 2019 AI Cluster Map Now!the full CBRE report, click here.

3. Waterloo’s Accelerator Centre named accelerator of the year

For the second consecutive year, the Accelerator Centre has been named accelerator of the year by Digital Finance Institute for the support they provide to start-ups focused on financial technology and artificial intelligence. The AC’s recent launch of the new Amazon Alexa Accelerator Program is just one example of the way they are advancing the region’s tech ecosystem. Read the Record’s full story. 

4. Velocity tops $1 billion in total funding

Velocity, the world’s largest free incubator, officially surpassed $1 billion in venture capital funding since its inception 11 years ago. 131 companies have passed through or are currently working out of the incubator. Top rounds came from: Faire, North, Embark, Kik and Vidyard. To read more about Velocity’s considerable feat, check out this coverage from Betakit.

5. New study shows big economic boost from UWaterloo’s start-up community

The University of Waterloo, one of the world’s top tech schools, has a strong reputation for entrepreneurship. A new report from Deloitte examined the economic impact of UWaterloo’s entrepreneurship programming, concluding that the university’s programs have contributed more than $2 billion in economic impact. Read CTV’s full coverage. 

6. Conestoga is one of Canada’s top research colleges

Research Infosource Inc.’s new list highlighted Conestoga College as one of Canada’s top 50 Research Colleges. Achieving an impressive $5 million in research income, the college climbed 11 spots since last year, claiming 12th place in the country. In an article from Kitchener Today, President John Tibbits commented that “Conestoga is committed to investing in applied research to address the needs of our industry and community partners.”

7. AirBoss opens new R&D, administrative facilities at flagship rubber plant in Kitchener

AirBoss, a Waterloo Region mainstay and one of North America’s largest rubber mixing operations, has opened a state-of-the-art research and development centre in its one-million-square-foot facility. The centre will allow AirBoss to make strides towards the development of new products. Learn more about the advantages of conducting R&D in Waterloo and check out the full story in coverage from The Record.

8. Sonova opens innovation lab at Communitech

One of the world’s largest providers of hearing solutions, Sonova opened an innovation lab inside of Communitech’s Innovation Alley. The lab will serve as a centre for experimentation to help Sonova conceptualize and create the future of assisted hearing. Read the full story by Exchange Magazine to discover how Sonova is leveraging Waterloo’s renowned tech ecosystem.

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Topics: technology, automotive, talent, business, site selection