The University of Waterloo’s impact is local and global. The acclaimed academic institution drives innovation right here in our community, while powering economic and entrepreneurial activity around the world.
Students, alumni and researchers from the university have long embraced transformation. Here in Waterloo, we reinvent what it means to be an entrepreneur, an innovator, a social changemaker. We build solutions that have a real-world impact.
These are bold claims. But the data backs them up.
The University of Waterloo (UWaterloo) just released its 2026 economic impact report, showcasing how the university’s economic, environmental and societal impact is transforming communities here at home, and beyond.
From entrepreneurship to research expertise to experiential learning, here are the four highlights from “The Waterloo Impact.”
1. 68K companies founded and $400B generated globally
UWaterloo alumni have founded almost 68,000 companies, generating approximately $400B in annual revenue globally. Among them are BlackBerry, Faire, Arctic Wolf, OpenText and Miovision. This incredible economic impact is a testament to the way the school shapes its students; studying at UWaterloo is a lesson in experimentation, entrepreneurship and curiosity.
In Ontario alone, UWaterloo entrepreneurs have created more than 3,350 jobs. From healthcare to software, robotics to manufacturing, university alumni are pivotal in powering the province’s business ecosystem—and the Waterloo region is at the heart of it all.
2. #1 university in Canada for producing unicorn founders
According to the Unicorn Report 2025, UWaterloo is the #1 university in Canada for producing unicorn founders. A unicorn is a privately held startup valued at over $1 billion. In the tech world, a unicorn is a rarity—they are technology-driven, disruptive and laser-focused on rapid scaling. With a unique IP policy and excellent incubators, Waterloo’s culture of entrepreneurship is a launchpad for ideas that shape the future of tech.
Unlike most other universities, researchers at UWaterloo own what they invent, thanks to the school’s creator-owned IP policy. Permitting researchers to take full ownership of their IP encourages entrepreneurship. The policy attracts innovators and industry partners, helping them commercialize research for societal and economic impact.
Velocity, one of Canada’s most successful startup incubators, is fundamental to UWaterloo’s entrepreneurial culture. With 500+ companies, 1,200+ founders and $40B in enterprise value, Velocity generates economic value across several industries. UWaterloo reports that 22% of Velocity startups are in health innovation, 19% are in industrial technologies and 38% are in specialized and emerging sectors such as quantum technology, advanced robotics and augmented platforms.
Greenhouse is another leading incubator on campus, with a focus on social impact. The incubator supports 500+ student social innovators, funds 100+ ventures and has awarded over $225K to students. A pillar in our cleantech ecosystem, Greenhouse is building social and climate leadership among young people, who then go on to drive change in Waterloo and beyond.
Innovators work in the Science Lab at Velocity
3. Canada’s top research university for 18 years
UWaterloo has a reputation for research excellence. It’s well-earned, since the school’s been the top comprehensive research university in Canada for the last 18 years. Its innovation and R&D efforts have contributed $771 million to GDP in Ontario over the last decade.
The school’s extensive research partnerships with industry experts and major companies solidify its position at the top of the standings. The report notes that more than 28% of UWaterloo’s ample research funding ($250M+ in 2023-2024) comes directly from industry partnerships. Research excellence, combined with strong industry collaboration, is a major reason the school is known as one of the world’s top tech and innovation schools.
The close connection between academia and industry in the Waterloo community is a catalyst for innovation. UWaterloo’s Corporate Research Partnerships Management team helps companies connect and collaborate with the school and tap into R&D expertise.
“At Waterloo, innovation isn’t just a buzzword. It’s the foundation of what we do,” said Ashley Hannon, Associate Director, Corporate Research Partnerships. “We connect industry with world-class experts, cutting-edge labs and technology, top-tier talent and Waterloo’s entrepreneurial culture to turn ideas into impact.”
4. Employers double their investment when hiring co-op students
Co-operative education, an experiential learning program, benefits students and employers alike. Students gain 2+ years of work experience while earning their degree, and employers can add an extra set of hands to their team, training them for full-time employment.
And UWaterloo’s co-op program is the best of the best.
It is the largest research-intensive university co-op program in the world, and its employer network (8,000+) is the largest of any research university in North America. When employers hire a UWaterloo co-op student, they double their investment, realizing $2.20 in economic output for every $1 spent. The program is an important driver of our community and the province’s workforce development, building a skilled and sustainable talent pipeline.
With entrepreneurial ventures, research capabilities and talent development, UWaterloo is accelerating innovation and economic activity in our region and around the world. That’s the Waterloo impact.
Key Takeaways
- According to a new report from the University of Waterloo, nearly 68,000 companies are founded by UWaterloo grads, generating roughly $400B in annual revenue around the world
- Waterloo’s startup culture, anchored by incubators Velocity and Greenhouse, has produced some of Canada’s most successful founders and social innovators
- With over $250M in annual research funding and deep industry partnerships, UWaterloo leads Canada in university research for the 18th year running
- Employers who hire UWaterloo co-op students double their investment, making the program one of the most effective talent pipelines in North America
Find out how the post-secondary institution contributes to a world-leading network of tech companies, startups and scale-ups, innovation hubs and more.