Velocity Fund $5K and $25K applications for Fall 2018 are now open
Applications for the Velocity Fund are open and waiting for your awesome ideas! If you are a student or recent alum with plans to build the next great startup, this competition is perfect for you. Compete in either the $5K or $25K by presenting a 3-minute pitch to a panel of judges to win a share of $130K in equity-free grant money to help grow your business.
Not sure which funding category is the right fit? The $5K competition focuses on student ideas or student-driven early-stage startups still cutting their teeth in the startup world, and the $25K competition is to help startups with a prototype and some traction grow their business. The top applicants will present their pitches at the Velocity Fund Finals on November 27. Amongst the many perks of participating in the Velocity Fund, the connections, credibility, and exposure are some valuable resources.
- We recently 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.
- In collaboration with the Ministry for Seniors and Accessibility (MSAA), available to applicants are two additional $5,000 prizes for projects that integrate accessibility into entrepreneurship.
- In partnership with Waterloo Residences, winners of the Velocity Fund are eligible to receive 50% off housing fees for up to two team members. This offer is available to University of Waterloo students for the Winter and Spring terms.
SheLeads – Spring 2018 Velocity Fund $25K winner
Velocity provides funding in a way that is useful to startups by incorporating application, interview, and pitch experience into the program:
VELOCITY FUND $5K
Apply to pitch an early stage startup idea to qualify for a chance to win one of four $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 November 7 and 8. 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 November 27 to compete for a share of $20,000.
VELOCITY FUND $25K
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 business must be tech-based and a working prototype is strongly encouraged, to help demonstrate your ability to execute. The top applicants will be invited to interview with Velocity advisors and alumni for a chance to pitch at the Velocity Fund Finals on November 27, where 10 companies compete for a share of $110,000 and free workspace in the Velocity Garage startup incubator.
If you aren’t interested in pitching, you can register to attend any of the events!
The Velocity Fund was established in 2011, inspired by a donation of $1 million from Kik Founder Ted Livingston. In March 2014, Velocity received a second donation of $1 million from renowned angel investor Mike Stork. Velocity would like to recognize this outstanding support of entrepreneurship.
The Fall 2018 Velocity Fund Finals is sponsored by Thomson Reuters.