As the dog days of summer end the Waterloo community is gearing up for a very busy autumn. Despite often being the quietest month of the year, August still had its fair share of exciting news, including glowing reports about Waterloo’s tech credentials and Canada’s immigration policies, and the launch of a new nanotechnology innovation centre.
Here are six great business and investment stories:
1. Report from TD Bank Group calls Waterloo a “rising tech superstar city”
In a new report from TD Bank Group’s economics office, the Waterloo community is classified as a “rising tech superstar city” that represents a model for jurisdictions intent on avoiding the regional economic and income disparity found in the United States. We wrote a piece about the report, and for more coverage, you can check out this article from the CBC featuring commentary from Waterloo EDC’s President and CEO Tony LaMantia.
2. New OECD report lauds Canada’s immigration policies
A new report from the Organization for Economic Co-operation and Development (OECD) touts Canada’s economic immigration system as one of the most successful in the world and a benchmark for other countries. We wrote about the report, “Recruiting Immigrant Workers: Canada 2019,” here.
3. Wilfrid Laurier University receives $1.3M to support women entrepreneurs
Wilfrid Laurier University will receive $1.38 million from the Canadian government to help encourage more women to launch their own businesses. The funding is part of a $2 billion initiative that seeks to double the number of women-owned businesses in Canada by 2025. Laurier will use the funding to establish three programs to help entrepreneurs at the early startup stage. Read full coverage from the Waterloo Region Record.
4. Waterloo is the launching point for new Canadian intellectual property initiative
The Canadian federal government announced three new initiatives at the University of Waterloo to help companies commercialize their intellectual property, access other intellectual property and tap into legal expertise. The programs include a $30 million patent collective pilot project that will help small and medium-sized businesses meet their IP needs to grow and expand, a government run IP marketplace and IP-focused legal aid for Canadian businesses and innovators. Read full coverage from the Waterloo Region Record.
5. VueReal opens advanced nanotechnology centre in Waterloo
Micro-LED innovator VueReal opened an advanced nanotechnology centre at its Waterloo headquarters as part of a $24 million investment. The state-of-the-art facility includes a clean room, unique microprinting technology and labs where devices can be tested for their reliability and longevity. For the full story, check out coverage from the Waterloo Region Record.
6. Waterloo population continues steady growth amid development boom
New statistics suggest Waterloo’s population is continuing to grow at a steady rate, slightly above 1% each year. Experts expect this growth to speed up, especially in the urban core areas, as significant new developments come online in the next few years. This news came as plans for a new development across the street from Google Canada’s engineering headquarters– with 46 total stories of luxury condos – were announced. The Waterloo area has approximately $2 billion in new development planned, with about $1 billion earmarked for the Kitchener city centre.