The head Google engineer in Kitchener believes this region’s worldwide reputation as a technology centre could be used to raise a billion dollars to fund startups and early-stage technology companies.
Feridun Hamdullahpur, president of the University of Waterloo, made it clear his institution is central to the innovation economy in this region, which has two out every three technology startups in the country.
“I call this place Canada’s innovation capital,” Hamdullahpur, said.
There are more than 800 tech companies in this region, and University of Waterloo faculty, UW graduates or knowledge created at the university are responsible for the founding of more than half of those firms.
The university’s unique policy of allowing faculty and students to retain ownership of their research is a key part of this innovation economy, Hamdullahpur said.
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