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October Wrap-up: Tech drives headlines in Waterloo

A round-up of business and investment news stories from Waterloo, Canada in October, 2022.

When it comes to grabbing headlines it’s hard to beat Waterloo’s tech industry.

Take October, for example. We had stories about tech companies getting government funding, opening new offices and getting attention for their incredible growth. We had tech researchers getting exciting new research chairs. We had a post-secondary institution getting recognition as one of Canada’s top tech schools.

It’s almost overwhelming.

Here are the top stories from October 2022:

UWaterloo is Canada’s Most Innovative University

For the 29th time in the last three decades, the University of Waterloo is “Canada’s Most Innovative University,” according to Maclean’s Magazine’s annual report on Canadian schools. That’s just the tip of the iceberg though, as UWaterloo received recognition as one of Canada’s best overall universities, best tech university and more.

Constant Contact joins the Waterloo ecosystem

The newest addition to Waterloo’s renowned tech ecosystem is a world leader in digital marketing technology: Constant Contact. The company is opening its first Canadian office – a new innovation lab within the Communitech Hub – with a goal of supercharging product development and research.

“We chose the Waterloo-Toronto region for this expansion because it is Canada’s leading technology ecosystem and one of the most innovative corridors in North America,” says Frank Vella, CEO at Constant Contact.

Enlighted keeps growing in Waterloo

As the month came to a close, Waterloo also had the chance to celebrate another (relatively) recent arrival. Enlighted, which landed in Waterloo in 2019, has opened a new office to accommodate their local growth – the company now has more than 30 employees in the community. The Waterloo office will continue to focus on the development of innovative smart building Internet-of-Things sensors, data and software applications.

“Investing [in Waterloo] has helped us recruit some of the best minds and access to the University of Waterloo allows us to invest in the next generation while giving our teams a real boost of talent and creativity,” says David Wigg, Head of Software Engineering at Enlighted.

Communitech adds Waterloo companies to the billion-dollar list

Twenty-six new companies were added to the Team True North list in October, which highlights those Canadian businesses with the highest probability of reaching $1 billion in revenue. Of the new additions, two are from Waterloo: Clearpath Robotics/OTTO Motors and Miovision Technologies. In total, eight of the 61 companies on Team True North are from Waterloo.

“Miovision is honoured to be recognized alongside our high-performing peers in the Canadian tech sector,” says Kurtis McBride, CEO at Miovision.

Waterloo-based AI researchers get new government funding

The Canadian Institute for Advanced Research (CIFAR) has named eight new artificial intelligence chairs to support understanding and research in priority areas, including health, energy, the environment, fundamental science and the responsible use of AI. Wenhu Chen and Xi He, both at the University of Waterloo, were named CIFAR AI Chairs, which comes with long-term, dedicated funding for their work.

Waterloo companies get million-dollar investment from Canadian government

Three tech companies based in Waterloo will receive $7.5 million to ‘seize new opportunities for growth’ and create 75 jobs. Shinydocs Corporation ($4M), Encircle Inc. ($2.1M) and Proto Research Inc. ($1.4M) will leverage the investment to enhance their product offerings and increase sales capacity.

Communitech gets the spotlight

A new feature in The Financial Post highlights just how far the Canadian tech community has come in the last decade and just how central Communitech – one of Waterloo EDC’s closest partners in the Waterloo community – is to this progress.

“I want all Canadians to really appreciate that Canada is not an aspiring technology power – Canada has totally arrived. We are great at technology, we are great at tech startups and Communitech is one of the most important engines for how that has happened and how we’re going to continue to own that podium,” says Chrystia Freeland, Canada’s Deputy Prime Minister and Minister of Finance.

UWaterloo takes on Boston in new “5 Charts” comparison

Last but not least, we’ve just published another of our “5 Charts: UWaterloo vs.” blog posts, this time pitting the University of Waterloo against the best Boston can offer: MIT, Harvard, Northeastern and Boston University.

Learn more about Waterloo’s exceptional business community