VeloCity Venture Fund, the venture unit of the University of Waterloo, is to make four investments of $25k each across four student-led startups followings its annual venture contest.
Web development platform Kite, project management tool Planlead, wearable health manufacturer Blacktree Health and music application SoundBrush will all split the $100k put up by the University.
The Fund awards up to $300k in Waterloo students each year, and also manages the University’s incubator VeloCity Garage.
Jeffery Morgan, co-founder of Kite, said: “We’re developers, and we love solving the problems that developers face. But there’s a lot more to running a business than that, and VeloCity has a great ecosystem to build great companies. This has been an amazing experience. Today’s prize means we can get Kite to our users and become a dominant player in this market so much faster.”
