November 26, 2015
University of Waterloo startup incubator credits its success to policy of not charging rent, or taking taking equity stakes. - The University of Waterloo’s startup incubator Velocity, which has produced companies including Kik and Thalmic Labs, is getting even bigger, with the help of Google. That’s because the U.S. tech giant has moved to new offices with its 350 employees in Kitchener-Waterloo, freeing up space in the old Lang Tannery building in downtown Kitchener. Google is subleasing out that office area, along with furniture and equipment for the next three years, with option to extend, to Velocity and Communitech, a community-based group that helps local tech companies grow.
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