The University of Waterloo in Ontario, Canada, is launching a training camp to teach promising young Canadian entrepreneurs how to help create the country’s future economy. The VeloCity Entrepreneur BootCamp (VEB), which will run from May to July 2010, will be based in U-Waterloo’s VeloCity, a hybrid student residence and high-tech incubator that has spawned several start-up companies in mobile communications and digital media. The VEB will enable top student entrepreneurs to fast track the launch of their technology-based start-ups. Selected students will live rent-free at VeloCity and work out of office space provided at no charge by the Accelerator Centre in U-Waterloo’s research and technology park while they are mentored by some of Canada’s most experienced and successful entrepreneurs. Students will receive $3,000 each, up to a maximum $9,000 for each team, and own 100% of their IP.<\/p>\n
“We must find new ways to encourage and grow innovation and entrepreneurship,” says David Johnston, president of U-Waterloo. “This initiative brings together enterprising students who, with the support of a leading university, [will] learn how to collaborate with the technology incubator, start-up, and venture capital communities.” At the conclusion of the BootCamp, students will be eligible for additional seed funding through a new entrepreneur program managed by the Ontario Centres of Excellence Centre for Commercialization of Research. VEB is open to any post-secondary student in Canada. In addition to a resume, applicants must submit an overview of their start-up and a YouTube video promoting the idea.<\/p>\n