June marks a busy time in Waterloo.
Graduates from our esteemed post-secondary institutions take flight from school and join their fellow alumni in the local workforce. New innovations are being made across the region from car battery packs to “flying” boats.
Check out our top stories from June that are motivating us all to reach higher highs over the summer!
Toyota moves major production to Waterloo
As the company prepares to shift to a hybrid-only RAV4 model in 2026, Toyota Motor Manufacturing Canada is now planning to assemble RAV4 battery packs at its Cambridge and Woodstock facilities. This move brings even more of the vehicle’s value chain into the region, strengthening local capabilities and supply networks. Local production on the 2026 RAV4 is set to start early next year.
In both locations, floorspace is being repurposed within the plants to prepare for the new battery pack lines. These locations will also shift to help manufacture other components for the next generation RAV4 throughout the rest of the year.
Startup Genome global ecosystem rankings
June marked the release of Startup Genome’s 2025 global startup ecosystem rankings. This year, Toronto-Waterloo ranked 20th worldwide across categories such as performance, funding, talent and experience, market reach, knowledge and new to the 2025 rankings, support for AI startups.
The rankings highlight that the Toronto-Waterloo ecosystem is the #1 startup ecosystem in Canada. The region is also one of the few regions that saw artificial intelligence-related funding increase more than 10-fold in two years between 2022 and 2024.
Startup Genome’s rankings highlight various ecosystems and their strengths annually.
WatSPEED and Vector Institute partner on AI
The University of Waterloo’s WatSPEED and the Vector Institute have launched a strategic partnership to accelerate artificial intelligence adoption across Canada. This partnership signifies a shared commitment to making advanced AI training more accessible. It will help organizations overcome adoption challenges and building a future-ready workforce equipped to lead in the digital economy.
The Vector Institute is a not-for-profit organization funded by the Province of Ontario and the Government of Canada. It collaborates with academic experts, corporate partners, and subject matter specialists. Together, they develop cutting-edge research, training programs and projects. These initiatives help organizations harness AI to boost productivity and foster economic growth.
Waterloo startup to launch electric flying boat
Waterloo-based startup ENVGO is set to revolutionize the marine industry with its innovative electric hydrofoil boat, the NV1. Founded in 2021 by a team of University of Waterloo engineering alumni, ENVGO leverages aerospace and robotics expertise from both education and previous employment across the Waterloo region.
The NV1 is a 25-foot luxury electric cruiser that employs hydrofoil technology to lift above the water, reducing drag and enhancing efficiency. It boasts a top speed of 80 km/h and a range of up to 130 kilometers on a single charge, all while producing zero emissions and minimal noise.
The NV1’s development is supported by various grants and funding offered to companies who are trying to make a greener world via technology. The NV1 is slated to launch in 2026.
Nicoya acquires firm to boost drug discovery
Kitchener-based Nicoya Lifesciences has completed the acquisition of Applied Photophysics, a UK company known for its work in biologics and protein binding analysis. This move builds on Nicoya’s existing momentum to expand their suite of lab instruments from proteomics into wider biological and molecular diagnostic applications.
The deal positions Nicoya to offer researchers a more comprehensive toolkit for studying molecular interactions and developing biologics, strengthening their status in pharmaceutical R&D right here in Waterloo.
UWaterloo Scorecard helps prep for wildfires
The University of Waterloo partnered with FireSmart Alberta to help develop the FireSmart Scorecard to help prepare municipalities in high-risk areas for wildfires. The Scorecard focuses on finding the weaknesses in wildfire preparation processes so they can be better addressed and improved.
Dr. Anabela Bonada, the managing director of climate science at the University of Waterloo’s Intact Centre describes the Scorecard as an integral tool to help identify strengths and gaps in a municipality’s wildfire preparedness. The end goal is that the Scorecard can help municipalities build long-term resilience to wildfires over time.
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