Apply to the Velocity Fund

Velocity Fund $25K and $5K applications are now open!

The Velocity Fund is a grant program for startups that offers equity-free funding through its Velocity Fund $5K and $25K programs. The program culminates in the Velocity Fund Finals pitch competition, held once each term at the University of Waterloo, where startups and aspiring entrepreneurs compete to win a share of $125,000 in funding to grow their business. An overview of the $5K and $25K programs can be found below, along with eligibility criteria.


This term we have modified the applicant criteria for the $25K competition, in order to include founders who graduated 5 years ago but started their company within the last year. We have also partnered with University of Waterloo Housing to offered discounted accommodation in the Velocity Residence for the 10 finalists of the $5K competition. Student finalists are also invited to discuss getting access to workspace in Velocity Start. More details.


Apply to pitch an early stage startup idea to qualify for a chance to win one of three $5,000 prizes. The top applicants will be invited to make a 3-minute pitch in front of a panel of judges at one of the Velocity Fund $5K Qualifiers Nights on March 13 and 14. All teams will get helpful feedback on their idea, and the top 10 teams from the Velocity Fund $5K Qualifiers will move on to pitch at the Velocity Fund Finals on March 28 to compete for a share of $15,000.


Startups that are beyond the concept stage can apply to compete for one of four $25,000 prizes, and an additional prize of $10,000 for the most innovative hardware or science winner. The top applicants will be invited to interview with Velocity advisors and alumni for a chance to pitch at the Velocity Fund Finals on March 28, where 10 companies compete for a share of $110,000 and free workspace in the Velocity Garage startup incubator. (Applicant criteria).


  • February 12, 2018 – Written applications open for $5K and $25K
  • March 3, 2018 at 11:59pm – Velocity Fund $5K and $25K written applications due
  • March 8, 2018 – Velocity Fund $25K company interviews
  • March 13, 2018  – Velocity Fund $5K Qualifier – Night 1
  • March 14, 2018 – Velocity Fund $5K Qualifier – Night 2
  • March 28, 2018 –  Velocity Fund Finals
Presenting Sponsor:
Thomson Reuters
Supporting Sponsor:
Supporting Sponsor:

Magna International

Thomson Reuters provides professionals with the intelligence, technology and human expertise they need to find trusted answers in the financial and risk, legal, tax and accounting, and media markets. The new Thomson Reuters Toronto Technology Centre will create 1,500 high-quality technology jobs in Canada and accelerate research for cognitive computing, visualization, UX, and cloud development.