November was a symphony of achievements in the Waterloo region, blending bold innovation, international accolades and groundbreaking collaboration.
From the launch of new facilities to recognition for research and business excellence, these milestones strengthen Waterloo’s reputation as a destination for global leaders in innovation.
Whether it’s healthcare advancements, cybersecurity breakthroughs or companies redefining their industries, Waterloo continues to set the stage for success.
Here are the highlights from last month:
New home for Canadian health tech
The University of Waterloo officially opened the Innovation Arena, a state-of-the-art facility on its downtown Kitchener campus, designed to accelerate health technology advancements. Offering access to specialized labs, co-working areas and hardware workshops, the Innovation Arena provides valuable resources for scaling health-tech businesses.
As the new home of Velocity, the University’s flagship startup incubator, the Innovation Arena is expected to drive commercialization efforts for health-tech innovations. Over the next few years, it’s projected to create 730 jobs, support 135 businesses and commercialize 150 health-tech products or processes.
Adrien Cote, Velocity’s Executive Director, summed up the facility’s potential: “The Innovation Arena will streamline commercialization pathways for businesses, fast-track the delivery of health technologies and drive Canada’s next wave of economic growth.”
The Innovation Arena is the new home of Velocity, UW’s flagship startup incubator.
Local companies named to Deloitte’s Tech Fast 50
Waterloo’s reputation as a tech hub was on display as four local companies secured spots on Deloitte’s 2024 Technology Fast 50 list:
- RideCo (1,276% revenue growth), based in Waterloo, provides on-demand transit solutions tailored for urban centres.
- DOZR (890% revenue growth), based in Kitchener, connects contractors to heavy equipment rentals through its online marketplace.
- ApplyBoard (#4 in Enterprise–Industry leaders), based in Kitchener, helps international students access higher education opportunities globally.
- Miovision (#9 in Enterprise–Industry leaders), based in Kitchener, uses AI-powered traffic solutions to improve urban mobility and sustainability.
As ApplyBoard Co-Founder and CEO Meti Basiri noted, “This achievement reflects not just our remarkable growth but the incredible impact we’re making in students’ lives around the world.”
OVHcloud champions data sovereignty
OVHcloud co-hosted “Canada’s Innovation Future” at the Centre for International Governance Innovation (CIGI) in Waterloo last month, bringing together leaders from business, academia and government to address pressing issues like data sovereignty, sustainability, and AI risks.
During the event, OVHcloud unveiled a new technology governance internship program in partnership with the Balsillie School of International Affairs. This initiative aims to prepare students to tackle challenges in data protection and emerging tech policy.
OVHcloud CEO Benjamin Revcolevschi emphasized the importance of collaboration, stating, “These challenges, whether it’s sovereignty, security or affordability, require creative thinking from everyone.”
Cybersecurity Institute secures $1.5M grant
Waterloo’s Cybersecurity and Privacy Institute (CPI) made headlines last month after securing over $1.5M in funding from the National Cybersecurity Consortium (NCC) to support four innovative projects. These initiatives focus on advancing digital security in areas like secure data storage, robotics cybersecurity, genomic data privacy and driver-assistance systems.
One project, led by CPI researchers Dr. Sujaya Maiyya and Dr. Florian Kerschbaum, aims to address the growing need for secure cloud storage systems. Another, led by Dr. Sebastian Fischmeister and Dr. Yue Hu, combines hardware and cybersecurity expertise to protect robotics systems against cyber threats.
“This funding announcement is an important step forward in maintaining our country as a leader in cybersecurity,” said Charmaine Dean, chair of the NCC board and vice-president of Research and International at the University of Waterloo.
Waterloo researchers named globally influential
Twelve University of Waterloo researchers were named on Clarivate’s Highly Cited Researchers™ 2024 list last month. This global distinction recognizes researchers whose publications rank in the top 1% for citations in their fields.
The honourees span diverse areas of expertise, from Dr. Michael Fowler’s work on zero-emission vehicles to Dr. Linda Nazar’s advancements in sustainable energy storage.
Charmaine Dean, vice-president, Research and International at the University of Waterloo, highlighted the impact of these researchers, stating, “This year’s awardees span a variety of research areas, including batteries for electric vehicles, a digital survey of the galaxy and 6G wireless communication networks. We are immensely proud of the impactful, world-leading research conducted at Waterloo.”
Waterloo shines in global subject rankings
In another win for the University of Waterloo, seven subjects earned the #1 ranking in Canada in the 2024 Academic Ranking of World Universities (ARWU) released last month. Hospitality and tourism management ranked highest globally at #13, followed by telecommunications engineering at #15.
Other standout subjects included remote sensing, water resources, and transportation science and technology, all of which ranked in the global top 50. These achievements reinforce Waterloo’s reputation as a research-intensive university tackling some of the world’s most pressing challenges.
" We are immensely proud of the impactful, world-leading research conducted at Waterloo. "
Charmaine Dean
Vice President, Research and International at the University of Waterloo
New healthcare innovation leader announced
Last month, Danina Kapetanovic was named the first Vice President, Innovation and Chief Health Innovation Officer for Grand River Hospital, St. Mary’s General Hospital and the University of Waterloo. Starting in January 2025, Kapetanovic will lead the CareNext Coalition, a partnership designed to enhance health outcomes through research, innovation and collaboration with local entrepreneurs.
“This role is about creating opportunities for clinicians, researchers and entrepreneurs to work together,” said Kapetanovic. Her leadership is expected to position the region’s healthcare institutions as leaders in innovation-driven transformation, benefiting both the local community and the broader healthcare industry.
Perimeter Institute welcomes new Executive Director
Rounding out last month’s achievements, Perimeter Institute announced its new Executive Director, Dr. Marcela Carena. A renowned particle physicist and the first woman to lead the Institute, Carena will guide Perimeter as it celebrates its 25th anniversary in 2025.
Carena expressed her excitement about the role, stating, “Perimeter is one of the world’s foremost institutes pursuing breakthroughs in a one-of-a-kind, innovative environment.” Her leadership will strengthen Perimeter’s role as a global hub for theoretical physics, inspiring the next generation of scientists.
Harmonizing headlines
November’s achievements were music to our ears. From the launch of the Innovation Arena to accolades for local companies and researchers, these high notes showcase the region’s ability to support growth across industries.
As Waterloo attracts more businesses, researchers and entrepreneurs, we’re turning the page toward another prosperous year ahead. Join the movement and discover how your business can find its rhythm in Waterloo.
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