Waterloo’s business community is heating up with several new advancements in infrastructure.
With the grand opening of the SDG Factory, reports of a record-breaking year for industrial and commercial construction, a $4M partnership to expand our life sciences sector and a new Chartright facility at the Region of Waterloo International Airport, May was full of exciting new developments in Waterloo.
Here are the top stories from May 2023:
New social entrepreneurship hub unveiled
The region’s newest entrepreneurship hub opened its doors in May. The SDG Factory, located in downtown Kitchener and funded by the City of Kitchener, provides a space for startups and small businesses focused on social and environmental innovation.
The factory, which derives its name from the United Nations’ 17 Sustainable Development Goals, sits at the intersection of Waterloo’s fast-paced startup ecosystem and thriving sustainability network and will become a cornerstone of our sustainable entrepreneurship community.
Waterloo’s record-breaking year
Waterloo had a record-breaking year in 2022. Last year, it was reported that we issued building permits for industrial and commercial projects with a total construction value of $1.8B.
Our region has seen unprecedented levels of growth in recent years due to favourable market conditions and these new developments in the commercial and industrial sector indicate a booming business ecosystem.
Life sciences sector expands in $4M partnership
The Ontario government announced a $4M partnership to expand the life sciences sector in Waterloo in May.
Moderna Inc. is partnering with Novocol Pharma to add new manufacturing capabilities to their facility in Cambridge, one of the region’s three cities, which will complete the final steps of preparing and packaging respiratory mRNA vaccines for distribution in Ontario and throughout Canada.
The investment, which will create jobs for highly skilled workers, is a huge win for the life sciences sector in our region.
Local co-op program named best in the country
The University of Waterloo (UWaterloo) was dubbed Canada’s best co-operative education program in May, with Conestoga College and Wilfrid Laurier University taking 3rd and 6th place on the list, respectively.
In a world where talent is at a premium, companies from all industries – automotive, manufacturing and technology alike – are struggling to develop effective talent pipelines, which is why our incredible co-op programs are critical to our region’s success.
Chartright expands its footprint at Waterloo airport
Canada’s largest provider of private jet charter activity, Chartright Air Group, opened its new Fixed Base Operator (FBO) at the Region of Waterloo International Airport, which doubles its footprint at the local airport.
This is a significant investment in our business community, as it contributes to the growth of the regional aviation sector in Waterloo and underscores our commitment to shaping the future of the industry.
Speaking about the grand opening of the space, President of Chartright Air Group Adam Keller said, “This region deserves a state-of-the-art jet facility that reflects the remarkable achievements of this community.”
" This region deserves a state-of-the-art jet facility that reflects the remarkable achievements of this community. "
Adam Keller
President of Chartright Air Group
Paving the way for clean energy solutions at UWaterloo
Researchers at UWaterloo continue to pave the way for clean energy solutions with innovation and tech.
In a partnership between UWaterloo and the University of Toronto, engineering researchers have created a new material that converts the simple mechanical vibrations all around us into electricity to power sensors in everything from pacemakers to spacecraft.
The system is compact, reliable and low-cost, and will have “a significant social and economic impact by reducing our reliance on non-renewable power sources,” said Asif Khan, a Waterloo researcher on the project.
Secondly, a Waterloo researcher is working to develop batteries that charge faster and last longer to accelerate the transition to electric vehicles. Waterloo is a pioneer in autotech advancements and this research will make a big impact in the electric vehicle industry
Missed the Innovation Summit? Here are the highlights
The Waterloo Innovation Summit took place this month and brought together leading experts and innovators for a thought-provoking discussion about sustainable transportation.
Hosted by UWaterloo in partnership with the MarS Discovery District, the summit highlighted the importance of innovation when it comes to achieving sustainable transportation and made it evident that Waterloo is well poised to lead the charge.
If you missed the event, check out our event recap here.
Want to take advantage of our entrepreneurial ecosystem and new investments in infrastructure? Waterloo is the place to be.