Review on Velocity by Olugbenga Ajayi
Velocity is a multi sector incubator backed by strong University
It is my pleasure to write a review about velocity. Velocity is an incubator and early stage investor that is based in Canada. It was founded in 2008 and recently a new executive director was installed by name Adrian Cotte.
Velocity is somehow different from other incubator platform in that it is backed by a university, the University of waterloo, Canada. Because of this partnership, velocity is the best incubator for pre-incubator program for academicians, students and researchers.
The company is multi sector in its interest as long as the founder has a vlear goal and it is marketable. Already it has given supports to start up in the area of software development, electronic, biotechnology and health sector.
Further more, there is no need to worry about its stability because velocity has support frim government, public and private organizations.
I love the fact that the application procedure is easy and it is direct since there is no middle man in between the applicant and the incubator. The amount given as fund is between $50,000-$100,000 which is very ok. However, there is no mentioning of whether a percentage this is required to access the fund or not
Pros
- It is backed by the university of waterloo which will help in providing a good platform for research development
- It has many partners that provides needed support for startups and founders
- Application process is not tedious. infact response to application takes only 2 weeks
- The website is easy to navigate and necessary info are provided including the amount of fund accessible
Cons
- There us no mention of whether a particular percentage of equity us required
