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March Wrap-up: Waterloo Scores Big in Innovation, Investments & Accolades

March was a slam dunk for Waterloo, with local companies and the University of Waterloo putting up some big numbers. Read the full wrap-up for these stories and more.

In Waterloo, March wasn’t about madness. It was about greatness – as accelerated innovation, increased funding and academic accolades all made the highlight reel.

With UWaterloo earning a top seed as one of the best tech schools in the world again, a local robotics company listed as one of the most innovative companies and funding investments announced in aerospace and manufacturing, the month of March was a slam dunk for Waterloo.

Here are the top stories from March:

UWaterloo is one of the world’s top tech schools

To no one’s surprise, the University of Waterloo was named one of the top tech schools in the world once again. Jumping up three spots from last year, UWaterloo was ranked #22 in computer science by the renowned Quacquarelli Symonds (QS) World University Rankings.

UWaterloo also excelled in the electrical and electronic engineering category, coming in at #29. In total, the university had three programs rank in the global top-50 and 13 rank in the global top-100.

OTTO Motors makes top-10 in global robotics

OTTO Motors had a big month, too. First of all, the local robotics company launched a new mid-sized autonomous mobile robot, making exciting, industry-leading strides in software development.

Secondly, OTTO Motors was named to Fast Company’s Most Innovative Companies for 2023 as a top-10 global robotics company. This prestigious annual award recognizes organizations that are moving the world forward, transforming their industry and shaping societies through innovation and impact.

“Our self-driving technology is powering an operational revolution for the world’s biggest manufacturers. It is an honour to be recognized for those achievements as one of Fast Company’s 2023 Most Innovative Companies,” said Matt Rendall, Co-founder and CEO of OTTO Motors. “This award is a testament to the incredibly unique team here at OTTO Motors and the dedicated customers who are working with us to push their businesses forward and transform their industries.”

Tech giant EPAM opens new Canadian office

EPAM Systems, a leading digital transformation services and product engineering company, officially opened the doors to their new Canadian office in March.

The tech giant’s new office, which is located in downtown Kitchener, will be a hub for collaboration and community involvement activities, such as educational programming and women in tech initiatives, and will allow EPAM to tap into Waterloo’s flourishing tech ecosystem.

We recently included EPAM on our list of the 10 biggest tech companies in Waterloo. Learn what other companies got their start in Waterloo and how much they’ve contributed to our company since then.

Health innovation reaches new heights

Velocity, UWaterloo’s globally recognized startup program located in the city of Kitchener, launched Velocity Health, a new initiative that aims to help new companies in the healthtech sector.

As the home of Velocity Health and several other exciting local medtech companies, Waterloo is poised to become a global leader in addressing future health challenges and accelerating health innovation.

We also saw six Waterloo quantum researchers received funding to develop innovative healthcare solutions to a myriad of issues using quantum science. Their technology is transforming the way doctors use tools to measure and determine early-stage health diagnoses.

Manufacturing and aerospace sectors receive major investments

With joint support from the Canadian and Ontario governments, Waterloo-based cleantech startup VueReal Inc. is investing $40M to expand and accelerate local manufacturing and strengthen cleantech innovation.

VueReal is a leader in the development and manufacturing of microLED displays and sensors, which are used in the automotive, medtech and aerospace fields.

Speaking of aerospace, the federal government is investing $22M in Ontario’s aerospace sector to fund six major projects across the province, including one in Waterloo.

Shimco North America, a full-service custom shim and small part aerospace manufacturer based in Cambridge, a city within Waterloo Region, is receiving over $1.2M to support the construction of a 20,000-square-foot addition to its manufacturing space and purchase new advanced equipment.

Canada is the fastest-growing country in the G7

Canada’s population grew by a record-smashing one million people in 2022. As the fastest-growing country in the G7, this achievement is a testament to Canada’s international appeal and the many opportunities we have to offer global businesses and talent.

We recently sat down with immigration law expert Naumaan Hameed, and economic development expert Catharine Gerhard who shared their insights about why companies are considering Canada for business expansion. Get the key topics and takeaways from our discussion here.

Shinydocs set to scale with new funds

Following several other funding announcements in Waterloo, Shinydocs Corp., a content management company, has raised $16.25MCAD in funding to boost its sales and marketing resources.

The company’s software helps customers organize, search and leverage the vast amounts of digital information that accumulates inside their organizations.

Want to join a winning team?

Waterloo has room on its roster. Get in touch with us to learn more.