Summer is in full swing and so is growth and innovation in Waterloo.
July has been a month full of sizzling stories, including a new hospital announcement, multi-million-dollar investments and new partnerships that showcase why our region is a hotbed for business and talent.
Here’s a look at the top stories from July 2024:
New hospital announced
In July, the University of Waterloo was selected as the site for a new joint hospital by Grand River Hospital and St. Mary’s General Hospital, two of the region’s three hospitals.
The new facility, located near the David Johnston Research + Technology Park, will enhance healthcare services in Waterloo Region and foster innovation through a strong partnership with the university.
Ontario Premier Doug Ford, Deputy Premier and Minister of Health Sylvia Jones and other notable leaders announced the project in July, highlighting its importance for the region: “The state-of-the-art facility will be a huge part of the future of healthcare in this region,” said Premier Ford.
“We are thrilled that the University of Waterloo will be the future home to Waterloo Region’s new hospital,” said Mark Fam, President of St. Mary’s General Hospital.
This collaboration will deepen the collaboration between the university and community healthcare providers, while offering experiential learning opportunities for students and faculty.
Ontario invests $260M in training
The Ontario government announced a $260M investment through the Skills Development Fund (SDF) Training Stream to tackle labour shortages and connect workers with high-paying jobs. This round of funding, the largest since the launch of the SDF Training Stream in 2021, will support workers in key sectors such as manufacturing, construction and technology.
Premier Doug Ford announced the investment, highlighting the government’s commitment to connecting workers across the province with better jobs and bigger paycheques. Notable attendees included Minister of Labour, Immigration, Training and Skills Development David Piccini and local Members of Provincial Parliament (MPPs).
Additionally, the government will be allocating over $7.2M from a previous SDF round to train nearly 3,300 workers in the Kitchener area, within Waterloo Region and across Ontario. “Waterloo Region is growing, and I am pleased that our government is supporting our workers with this $7.2M investment,” said Mike Harris Jr, local MPP.
Ceragen closes $2.7M seed funding
Local agtech startup Ceragen secured $2.7M CAD in seed funding to expand its portfolio of “probiotics for plants” products last month. These specialized soil microbes are designed to enhance crop yields by promoting plant growth and resilience.
The funding will support Ceragen’s expansion into key markets such as Mexico and the Netherlands and the development of new offerings for cucumbers and strawberries at its 5,000-square-foot facility in Kitchener.
“This capital will fuel our growth and allow us to bring the natural healthy microbiome into soil-less agriculture, optimizing greenhouse fruit and vegetable production,” said Danielle Rose, co-founder and CEO of Ceragen.
VueReal doubles production facility
VueReal, a leader in MicroSolid Printing™ technology based in Waterloo, announced it will be doubling its manufacturing space and introducing a new state-of-the-art production line. This growth will support the production of advanced microLED displays for both the automotive and consumer markets.
VueReal is also expanding its executive team and forging new partnerships to meet increased demand. “We are thrilled to announce our expansion into the consumer market and the growth of our team and facilities,” said Dr. Reza Chaji, CEO of VueReal.
“Doubling our manufacturing capabilities, forging additional partnerships and significantly expanding our executive team all reflect our commitment to innovation and excellence, positioning us better to serve our customers and partners across multiple sectors.”
New CEO at Accelerator Centre
Ruth Casselman was appointed as the new CEO of the Accelerator Centre (AC) after serving as Interim CEO since March 2024. With extensive startup experience and strategic leadership, Casselman previously co-founded Alert Labs and led it to a successful acquisition by Watsco, Inc.
As CEO, Casselman will lead AC’s mission to help startups build, grow and scale their businesses. Her deep understanding of the founder journey and her involvement in the local investment community position her to drive high-impact startup programming and foster collaboration within Waterloo’s tech ecosystem.
“I am honoured and excited to serve in the role of CEO at the Accelerator Centre,” said Casselman. “The AC was instrumental in the success of my own startup and I am passionate about giving back to the community in this new way.”
Industry partnership announced
Conestoga College and Magna have developed a customized training program to enhance collaboration between operational technology (OT) and informational technology (IT) employees. This year-long initiative, called the IoT Academy, aims to accelerate IoT solutions by bridging the skills gap between diverse employee groups.
The program features remote delivery of theoretical content and an in-person capstone experience at Conestoga’s SMART Centre, focusing on robotics, project management and software development.
“It is critical that OT and IT personnel can speak a common language to help accelerate the development of IoT solutions,” said Hendrik Lojek, Global Director of Industry 4.0 at Magna Cosma.
Things are heating up in Waterloo
July brought a wave of growth and innovation to Waterloo, proving it’s the perfect season for business investment. With new announcements, programs and funding, Waterloo’s vibrant environment is heating up, offering businesses the resources and talent they need for their next stage of growth.
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