University of Waterloo VeloCity Waterloo: Canada funding startups Waterloo
by Jesse Rodgers
…life in Waterloo just got a lot more interesting. StartupNorth calls Ted insane in the best sort of way and I agree. He managed to build a great little startup, attracting some top tier VCs and then orchestrates a brilliant deal to not alienate some great investors. Then he does something nuts to pretty much everyone, he empties a big part of his bank account and asks me (and VeloCity) to do something awesome with it. I am blown away.
Talking with people today was really interesting. Students had a hard time getting their heads around the fact that Ted has no influence over that money once that cheque is cashed. He doesn’t get equity, we aren’t naming a room after him or a building, he doesn’t gain in any way that people seemed to think he would. He does, however, hope that what we can do at VeloCity is help fill a big gap in Waterloo (and Canada) for support, education, and risk taking funding to support young people as they really go for it.
Besides the cash part I think the most important thing here is that students get an entrepreneur to look up to that is:
- just ahead of them in age
- thinking really big, $1 million isn’t cool enough
- a really nice guy willing to open up his newly established networks to his fellow Waterloo students
Over the next few weeks some big plans for VeloCity will start to take shape. So very exciting. Thanks Ted.