February News Wrap-up: Top ‘Made in Canada’ Stories from Waterloo

From major federal investments in local businesses to new research hubs advancing AI, blockchain and quantum technology, last month’s developments reinforce a key theme: Made in Canada means built for the world.

Canada’s business-friendly trade policies and 15 Free Trade Agreements (FTAs) covering 51 countries provide companies with access to 1.5B consumers and 63% of global GDP – not just the United States. Businesses expanding in the Waterloo region gain a direct path to international markets, supported by world-class research, skilled talent and strategic investment.

This month’s highlights showcase how Waterloo continues to invent the future of manufacturing, cybersecurity, medical technology and other emerging industries.

FedDev Ontario invests $9M in local companies

In February, the Government of Canada announced over $9M in funding for seven Waterloo Region companies to expand production, scale up operations and bring Canadian-made technologies to market.

Local recipients include:

• Alchemy (Kitchener): Received $1.8M for advancing nanotechnology-based windshield protection for vehicles.
• Avidrone Aerospace (Woolwich): Received $693K for commercializing a zero-emission cargo drone capable of carrying 20 kg up to 100 km.
• Ball Service Group (Kitchener): Received $800K for expanding precision machining for medical and industrial applications.
• FluidAI Medical (Kitchener): Received $2M for scaling AI-powered post-operative care devices for global markets.
• GeoMate (Kitchener): Received $600K for developing AI-powered high-definition maps for autonomous vehicles.
• Planitar Inc. (Waterloo): Received $1.5M for enhancing iGUIDE® technology for AI-driven property documentation.
• Smarter Alloys (Cambridge): Received $1.8M for scaling up production of shape memory alloy products for medical, automotive and energy applications.

“Waterloo Region is one of the most dynamic hubs in Canada. Today’s investment in these seven local businesses will continue to foster the right environment for Canadian businesses to grow while also bringing new Canadian innovations to market,” said Tim Louis, Member of Parliament for Kitchener-Conestoga.

Since 2015, FedDev Ontario has invested over $290M in more than 240 projects across the Waterloo community, supporting 57,000+ jobs.

UWaterloo launches AI and blockchain lab

The University of Waterloo received a $1M donation from Interop Labs to launch GENESIS Lab, a new AI and blockchain research facility at the David R. Cheriton School of Computer Science.

The lab will focus on secure, scalable distributed systems, supporting decentralized computing, digital payments and AI-driven applications. The funding contributes to Waterloo’s Computer Research Endowment, offering 12 PhD fellowships and six undergraduate fellowships through Waterloo Blockchain, a student-run organization.

“I believe we’re at the beginnings of what will be known as a complete rewrite of modern computer systems. Superior capabilities powered by AI, coupled with global distribution and payments rails offered by blockchain systems, demand new attention to how systems are built and used,” said Sergey Gorbunov, CEO of Interop Labs and Associate Professor at Waterloo.

“Waterloo is uniquely positioned to address these challenges, given its amazing talent, open innovation principles and track record.”

UWaterloo ranks among world’s top 100 universities

The University of Waterloo’s reputation continued to grow in February with its #97 ranking in Times Higher Education’s 2025 World Reputation Rankings. This marks the first time since 2011 that the university has ranked in the top 100 globally.

The ranking is based on THE’s Global Academic Reputation Survey, which gathered 55,000+ responses from scholars worldwide. UWaterloo’s strength in AI, quantum technology, cybersecurity, nanotechnology and sustainability helped secure its position as one of the most highly regarded universities globally.

“Being ranked among the top 100 universities in the world for reputation demonstrates that academics around the world recognize the exceptional work being done at Waterloo,” said Vivek Goel, the University of Waterloo’s President and Vice-Chancellor.

$5M invested in sustainable additive manufacturing

The University of Waterloo’s Multi-Scale Additive Manufacturing (MSAM) Lab – Canada’s largest academic metal additive manufacturing facility – has received $5M from FedDev Ontario to establish the Consortium for Sustainable Scale-up in Metal Additive Manufacturing (CSS-MAM).

The funding will support clean economic growth, industry scale-up, and advanced training programs to meet the demand for skilled engineers in Canada’s additive manufacturing (AM) sector. By advancing sustainable 3D printing technologies, the lab aims to minimize waste, reduce CO2 emissions and accelerate industry adoption of large-scale AM.

“The MSAM laboratory is a remarkable facility that brings together world-class infrastructure, cutting-edge equipment, expertise, intellectual properties and partners to support the advanced manufacturing sector across Canada,” said Dr. Ehsan Toyserkani, Co-Director of MSAM.

Quantum tech to reduce MRI scan times

Foqus Technologies, a startup led by Waterloo alum Dr. Sadegh Raeisi (PhD ’14), is working on quantum-enhanced software that could cut MRI scan times from 45 minutes to just five minutes.

Using quantum algorithms and machine learning, Foqus’ software enhances MRI sensitivity, generating stronger signals with less data collection. This could reduce strain on healthcare systems, improve early disease detection and make MRIs more accessible.

The technology has already been tested on 20,000+ MRI images and is undergoing FDA approval. Foqus is working with Velocity and the Robarts Research Institute to bring the technology to market.

Conestoga’s cybersecurity programs ranked among Canada’s best

Conestoga College’s cybersecurity programs were ranked second in Canada for 2025 by CourseCompare, recognizing the school’s strong industry connections, hands-on training and commitment to preparing students for in-demand roles.

“As an experiential learning environment, ACSIT students at Conestoga have access to advanced technologies in our classrooms and labs,” said Jim Edwards, Dean of the School of Applied Computer Science & Information Technology at Conestoga College.

“Through hands-on experience with equipment from leading cybersecurity vendors such as Palo Alto, Juniper, Cisco and others, our learners are ready to take on myriad industry challenges in cybersecurity,”

New accelerator partnership to support startups

The Accelerator Centre (AC) has launched a new UN Sustainable Development Cohort of the AC:Studio program in partnership with the Conestoga Entrepreneurship Collective’s Gig Lab, to help startups contribute to a more sustainable future .

Backed by $3.9M from FedDev Ontario, the initiative will support 46 early-stage startups developing cleantech, EV, agri-tech and sustainability solutions. Startups will receive up to $100,000 in seed funding, mentorship and industry support in product development, marketing and UI/UX.

“At Conestoga, we believe that empowering entrepreneurial talent is key to building a more sustainable and innovative future,” said Rose Mastnak, Director of the Conestoga Entrepreneurship Collective.

Innovation is made here

From federal investments in scaling businesses to breakthroughs in top tech industries, Waterloo continues to lead the way in innovation and global competitiveness.