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University of Waterloo Startups to Pitch Live for Velocity Funding

WATERLOO, ON--(Marketwired - July 17, 2014) - Ten University of Waterloo startup companies will pitch their businesses for a share of $100,000 in grant funding at the Velocity Fund Finals on Thursday, July 24. The rewards include four $25,000 prizes as well as workspace at Velocity.

The contenders come from diverse backgrounds spanning biotechnology, computer science, engineering, and nanotechnology. The companies are tackling current issues, such as more accessible vision care, health, food economics and efficient manufacturing.

"It's great to see a solid mix of hardware and software startups competing at the Velocity Fund Finals," said Mike Kirkup, director of Velocity. "These companies are not only competing for funding, they're also competing for workspace at the Velocity Garage for software companies, or the soon-to-open Velocity Foundry for hardware, materials and life sciences companies."

Code Connect is a plug-in for Microsoft Visual Studio that dynamically visualizes program control flow for developers as they code, making software development and design easier.

ExVivo is changing the way allergies are tested. Their product provides an alternative to existing skin prick methods by moving the reaction outside of a patient's body. This will give allergists a more rapid, safe and simple way to screen for allergies and offer patients results that are certain.

EyeCheck is a vision diagnostics solution involving a mobile app for taking photographs of the eyes, imaging equipment, and image processing algorithms that combined can provide a quick and inexpensive assessment of a patient's full prescription. It's ideal for making vision care accessible in regions around the world where it is otherwise not available or affordable.

Grobo is a personalized app-controlled in-home gardening system that lets anyone grow a successful garden at any time of the year, regardless of their experience level.

Localmotive is an online marketplace that facilitates the distribution and sales of locally produced food.

Maieutic is a programmable surface technology that can adjust topography at any time to monitor and correct defects in manufacturing.

MAJiK Systems is a web app for factory managers and machine operators to monitor the status, efficiency and problems of machines in real time.

Tempest Insight is a cloud tool that helps real estate developers determine what type of building to build and how to price them. Tempest does this by analyzing location-based data and generating statistical models.

Ubiq is reinventing the way presentations are given in enterprise organizations by allowing users to wirelessly present from their tablets or laptops to existing projectors and TVs in their meeting rooms.

Vitameter is a personal device that can inexpensively measure a user's vitamin levels. An accompanying app allows users to track their deficiencies and actively manage their diet.

To qualify as a finalist, each startup submitted a written proposal and presented a 3-minute pitch to a panel of judges from the Velocity community. The ten finalists now move on to the Velocity Fund Finals to present 3-minute pitches on-stage before a live audience and a second panel of judges from the business community.

The judges for the $25,000 competition include:

  • Tim Lee - Partner, Sequoia Capital
  • Ted Livingston - Founder and CEO, Kik (Velocity alumnus)
  • Karamdeep Nijjar - Venture Capitalist, iNovia Capital
  • Mike Stork - President, Stork Holdings

An additional ten entrepreneurs from the University of Waterloo will pitch their early-stage startup ideas for one of three $1,000 grants.

Velocity fosters entrepreneurship by providing early-stage startups with funding, free workspace, workshops, networking opportunities and access to mentors. Velocity takes no intellectual property rights or equity in return. 

Date: Thursday, July 24, 2014
Time: $1,000 competition starts at 11 a.m., $25,000 competition starts at 1 p.m.
Location: Student Life Centre - Great Hall, University of Waterloo, 200 University Avenue West, Waterloo, Ontario

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 us to book.

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