Maluuba on Winning the VeloCity Venture Fund
As one of four winners of this term’s VeloCity Venture Fund Competition, Maluuba has received $25,000, incorporation, mentorship and workspace to kickstart their success. Maluuba provides a speech-recognition application, allowing users to search for travel arrangements and local deals, simply by having a conversation with their phone.
Here’s what they had to say about their win:
Maluuba as a project came into existence more than two years ago. At that time, we saw natural user interactions to have the potential to lead a paradigm shift on how people will interact with machines in the future. This paradigm shift is akin to how Microsoft Windows changed computer interactions from using the command line to using graphics.
Maluuba as a company took ground in December of 2010 with the four Maluuba founders. As of today, Maluuba has 16 members and is quickly expanding. Our success comes greatly from the support from VeloCity and Communitech. We would have not been able to produce our demo without having a work space at the hub.
Maluuba is expanding and maturing into a product that is desired by many entities: large multi-national corporations and venture capitalists alike. However, before they invest in us, they desire to see a more functional product. Without VeloCity Venture Fund’s help, we would not have the funding to do so. The VeloCity Venture Fund came to us at just the right time. We will put it to crucial use.
Maluuba will always be a VeloCity friend and partner. Let us join hands in building a more awesome Waterloo tech community!