The Velocity Garage located in the small Canadian university town of Waterloo, has 63 current and alumni companies who have raised $3.7M CAD in investment funding. Alumni companies have raised a further $94.1M CAD in investment funding. The largest 8 tech companies started, grown and headquartered in Waterloo had combined revenues of $15.3B CAD in 2013 and have expanded to 175 countries. A prime example of a university program initiated by private businessman 75 years ago which has created a entrepreneurial culture permeating city hall and the entire region.
VELOCITY GARAGE FACTS (2013) Current and Alumni Companies: 63 Jobs Created: 326 Companies in the Velocity Garage: 30 Investment funding raised by current companies: $3,729,000 Investment funding raised by Alumni companies: $94,136,500 Combined revenues of the 8 largest tech companies, started, grown and headquartered in Waterloo for 2013: $15,384,688,000 Amount of countries they have expanded to: 175
SINGAPORE FACTS (October 2014) Requests to use new incubator building: 2,000 Investment in Singapore Startups for 2013: $150M SGD Singapore Satellite incubator in San Franscisco