Serenity Bioworks wins $35,000 from Velocity Fund Finals
Summary
The University of Waterloo hosted their 18th annual Velocity Fund Finals, where 20 companies pitched for a share of $125,000. University of Waterloo students and alumni had three minutes to pitch to a panel of VCs and judges from the investment, business, and startup communities. “This is a clear signal that investors—people whose jobs are to identify promising businesses—are putting their money into companies born right here at the University of Waterloo.” Four startups won the top prizes of $25,000 each: EMAGIN, which helps make water utilities safer by using AI to learn about historical events and predict outcomes; Gamelynx, which creates games and interactive experiences for face-to-face play, combining the social interaction of party and board games with the convenience of mobile web gaming; and Marlena Books, which creates therapeutic recreation products for individuals with Alzheimer’s or dementia. Serenity Bioworks, which develops medicine formulas to improve the long-term effectiveness and safety of anti-inflammatory medication, won a total of $35,000 after receiving an extra $10,000 in funding for the additional costs associated with building a science-based startup. The winners of the $5K competition included Para, a cloud-based application that guides adults in creating a comprehensive estate and end-of-life plan; Rugelach, Roswell and Rufus has created an EMS spine board to more accurately weigh children in paediatric emergencies; and ShiftRide, a car sharing platform that allows people to rent a car from other people nearby, each won a $5000 prize.