UWaterloo breaks ground on Innovation Arena, receives $7.5M from ON

The Government of Ontario has made a $7.5M investment to support the construction of a new Innovation Arena building at the University of Waterloo. UWaterloo and the City of Kitchener broke ground on the $35M facility this week, which will house UWaterloo’s Velocity program, a health tech incubator, and a small business centre. It will support health technology development, intellectual property commercialization, and investment and job creation. UWaterloo and the City of Kitchener will operate the Innovation Arena through a partnership. “The Innovation Arena will enable the collaboration and connections among researchers, talent and health care practitioners while supporting innovators and entrepreneurs from start to scale,” said UWaterloo President Dr Vivek Goel.