Waterloo prides itself on its “entrepreneurial culture” that produces numerous innovative ventures. I don’t know whether there were programs to train students in venture creation back in the days of Watcom and Volker-Craig, but there surely are now.
It is interesting to look back at the different programs, which in my experience include: Enterprise Co-op, UW Innovate Inc., Business Start-up Boot Camp, MBET, and VeloCity.
Interestingly VeloCity just announced a ‘bootcamp’ program.
The University of Waterloo is drawing on its widely acknowledged strengths in innovation to this summer launch a new type of collaborative training camp. Some of the most promising young entrepreneurs in Canada will come to learn how to help create the country’s future economy at the VeloCity Entrepreneur Bootcamp.
— Waterloo launches new bootcamp for young tech entrepreneurs UW News Release 26 Jan 2010
It reminded me of a post at UW Opinion by Garret.
Of the twelve start-ups, if they can be called that, that Jesse Rodgers has listed as part of the article I can’t help but feel slight dissatisfaction as the vast majority of these project aren’t what can traditionally be considered ‘innovative’, instead falling squarely into that listless mire known as ‘derivative’.
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Much of the passion that’s traditionally associated with startups is missing from VeloCity. It has become another resume-padding line, without actually pushing people to innovate.
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Since it’s not a monitored system, projects like “fitness application” get cranked out in place of original content.
— VeloCity without acceleration UW Opinion 9 Jan 2010
I thought he was too harsh and lacked some reason, so I responded.
Commenting on “VeloCity without acceleration” by Garret Kelly posted on 9 Jan 2010
It’s premature to make full judgement of the VeloCity projects based on descriptions of few words in the blog post. A decade ago the idea for the BlackBerry might have been described as “a mobile communication device,” which wouldn’t have given us enough information to judge its potential.
To truly judge VeloCity, we would need more knowledge of the program and time to see whether businesses come from it or its alumni.
There is value however in considering the stengths and shortcomings of any program, VeloCity included. Feedback can help them improve or show that efforts may be better directed elsewhere.
Setting up a system to produce innovative businesses is a tall order. For an initiative to be truly disruptive, it requires unusual circumstance to be realized. Given this challenge, there is a danger that VeloCity will be reduced to a program that offers students training in the mechanics of a startup, experience developing an idea and connects them with industry support, rather than being a reliable source for successful businesses.
VeloCity surely is only a piece of Waterloo’s entrepreneurial community and only one of what should be many efforts in fostering venture creation at our university
— RC-W
— More comments on VeloCity UW Opinion 10 Jan 2010
I do think many programs do get a lot of hype and many students are in it for resume padding. Not many have a good basis to judge and I do think some students are earnest innovators from whom we will see big things soon. We have seen it happen before.