SOURCE: University of Waterloo

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November 14, 2014 15:07 ET

Ten Finalists to Compete for More Than $100,000 at Velocity Fund Finals

WATERLOO, ON--(Marketwired - November 14, 2014) - Today, Velocity announces the 10 finalists for its Fall 2014 Velocity Fund Finals, taking place later this month. The entrepreneurship program from the University of Waterloo will host the Fall 2014 Velocity Fund Finals on November 27, where companies will compete for more grant funding than ever before as well as workspace at the Velocity Garage or Velocity Foundry.

Finalists will have three minutes each to pitch their startup ideas to a panel of expert judges, including top investors and successful business leaders for a chance at four prizes of $25,000. Velocity has increased its former Velocity Fund $1,000 competition to a $5,000 prize. The Velocity Fund $5K will award three prizes to UWaterloo students who present the best pitch or most innovative idea to the panel of judges during the November 27 event.

Judges from the Velocity community selected the 10 finalists for the grand prizes from a field of applicants. They based their decision on several criteria, including innovativeness of the product, market potential and quality of the pitch during the semi-final competition held earlier.

"The University of Waterloo and Waterloo Region are home to innovative people and ideas, and the Velocity Fund Finals is a great opportunity for us to introduce local startups, and showcase their remarkable potential," said Mike Kirkup, director of Velocity. "The number and quality of the companies and products that we have seen in the areas of hardware, software, and life and materials sciences this year are a testament to the talent and creativity of the young entrepreneurs here at Waterloo."

Previous winners have said the support they received from Velocity, including the startup funding, expert mentorship and peer network opportunities was invaluable. PumpUp, a mobile social network for healthy and active living, was one of the grand-prize winners in 2012.

"Winning the Velocity Fund Final was a big game-changer for us. It gave us the resources we needed to get to market much faster and helped open many doors, which accelerated our business," said Phil Jacobson, president and co-founder of PumpUp. "Looking back at our company's history so far, winning the $25,000 at the VFF competition in 2012 was a truly pivotal moment for us." 

The finalists that will compete for the grand prizes of $25,000 are:

  1. Code Connect -- Make complex software projects easier to understand using Code Connect for Visual Studio to display code as it will be executed.
  2. Doppel -- Precisely quantify individual movement patterns by means of a smart garment that provides athletes with noticeable feedback when it detects detrimental movements.
  3. EyeCheck -- An endeavour to provide high-quality, low-cost vision care to millions of people currently underserved by care in their region.
  4. HearthStats -- Hearthstone players can easily track wins and losses and gain insight into strengths and weaknesses for future play.
  5. Maieutic -- Designing a revolutionary die-casting technology called a programmable surface, which can change shape at the touch of a button. 
  6. MBLOK -- A smart memory device that aims to personalize VPN and cloud for offline access on the go. 
  7. Perceptiv Labs -- Perceptiv SHIFT is an intelligent camera motion control platform for cinematographers that is capable of tracking arbitrary objects. It enables a range of dynamic and immersive shots.
  8. Pout -- Connect to a new type of style community that empowers people to celebrate their individuality and personal style.
  9. Suncayr -- Sun safety is simplified with Suncayr's UV-responsive marker, which will be used to draw directly on skin and then provide a visual cue when sunscreen needs to be reapplied.
  10. Vitameter -- A personal handheld device that determines an individual's vitamin levels within minutes. Each test is inexpensive and provides people with the information needed to manage diet and supplements.

The finalists for the Fall 2014 Velocity Fund $5K are:

  1. Aminolyze -- A biotechnology startup developing devices to monitor protein requirements to help people fuel healthy active lifestyles.
  2. Ansik Inc. -- A mechanical reinforcement for worn out gas-charged struts.
  3. Kue -- A caffeine product that gives people a burst of energy before they wake up through a timed-release capsule. 
  4. Moocow Unicycles -- Dedicated to providing the unicyclist community with strong, ergonomic parts.
  5. Reno -- A device that uses body heat to charge smart devices. 
  6. CareChair -- A wheelchair that morphs into a bed to reduce the risk of injury with moving individuals with physical and mobility impairments. 
  7. SafeTech -- A hardhat integrated with geofencing technology and alarm systems to manage the safety of industrial workers in hazardous conditions. 
  8. Treetu -- A code search engine that will simplify development.
  9. Lani Inc. -- A payment and management system for 3D Print Centres.
  10. InstaRent -- A rental housing search engine to fit all of your living requirements. 

For more information on the Fall 2014 Velocity Fund Finals and to register for a spot in the audience, please visit the Velocity Fund Finals website.

About the University of Waterloo
In just half a century, the University of Waterloo, located at the heart of Canada's technology hub, has become one of Canada's leading comprehensive universities with 35,000 full- and part-time students in undergraduate and graduate programs. A globally focused institution, celebrated as Canada's most innovative university for 23 consecutive years, Waterloo is home to the world's largest post-secondary co-operative education program and encourages enterprising partnerships in learning, research and discovery. In the next decade, the university is committed to building a better future for Canada and the world by championing innovation and collaboration to create solutions relevant to the needs of today and tomorrow. For more information about Waterloo, please visit uwaterloo.ca.

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