Velocity2027 deadline, funding, equity and how to apply
University of Waterloo's free startup incubator, founded in 2008. No equity, no fees, rolling admissions with onboarding every two months and about a 10% acceptance rate.
- Up to $4K
- Funding
- No equity
- Equity
- On-site for at least the first 3 months
- Program length
- Rolling
- Applications
About Velocity
Velocity is the startup incubator of the University of Waterloo in Ontario, Canada. It started in 2008. It is one of the few large incubators that charges no fees and takes no equity.
The program is funded by the university, the provincial and federal governments and donations from past Velocity companies. Velocity says its community includes 500+ companies and 1,200+ founders with a combined enterprise value of more than $40 billion. Alumni include Faire, ApplyBoard, Avidbots, Embark, Bridgit and Float.
Admission is rolling, and new founders are onboarded every two months. Velocity says it accepts about 10% of applicants. Unusually, the process uses milestones.
After an interview, the committee sets goals for you to hit over one to six weeks before a final review. Founders get workspace, coaches, programming and access to the Waterloo network. The main condition is that founders must be full-time and work from Velocity in Kitchener-Waterloo for at least one day a week in the first three months, ideally five or more.
You do not have to be a Waterloo student. Velocity also runs the Velocity Pitch Competition. Its September 2026 edition used two-minute, slide-free pitches with a $5,000 top prize.
What Velocity looks for
Velocity wants full-time founders with evidence that they can execute. It accepts solo founders, but says teams of two to four do better. Idea-stage teams are sometimes accepted, but past progress weighs heavily. Non-technical founders are welcome, though complex products likely need a technical partner. Founders on Canadian visas can apply. Part-time founders and gambling, firearms or illicit-substance businesses are not accepted.
How the Velocity program works
Velocity has no fixed cohort length. Founders join in one of six onboarding windows a year, in January, March, May, July, September and November. They then work from the Velocity space in Kitchener-Waterloo, at least one day a week for the first three months and ideally full-time.
They meet coaches regularly, join programming and workshops, and use the community and alumni network. Earlier coverage described startups staying in the space for up to two years. Separate from incubation, the Velocity Pitch Competition gives non-dilutive prize money.
Past editions offered up to $25,000. The September 12, 2026 edition, part of Waterloo Tech Week, used a 100-team, two-minute format with a $5,000 top prize. Velocity also posts grants and challenges such as the November 2026 Blockchain Innovation Challenge powered by Stellar.
How to apply to Velocity
- 1Complete the online application at velocityincubator.com/apply, which takes about 30 minutes.
- 2Wait one to two weeks for the selection committee to review it.
- 3Join a 30-minute virtual interview with the committee.
- 4Receive milestones based on the interview and complete them over one to six weeks.
- 5Present your progress in a 30-minute virtual milestone review, then onboard in the next two-month window.
Startup perks after acceptance
Accelerator startups qualify for most startup credit programs. These are the ones founders claim first.
Notable Velocity alumni
Companies that went through or were backed by Velocity.
Velocity vs similar accelerators
| Program | Funding | Equity | Location | Deadline |
|---|---|---|---|---|
| Velocity | Up to $4K | No equity | Waterloo, Canada | Rolling admissions |
| AWS Generative AI Accelerator | Up to $1M | No equity | Seattle, WA | Next deadline not announced yet |
| Conception X | Up to $390K | No equity | London | December 6, 2026 (40 days left) |
| WILCO | Up to $173K | No equity | Paris | Next deadline not announced yet |
| Microsoft for Startups (formerly Founders Hub) | Up to $150K | No equity | Online | Rolling admissions |
| KAUST TAQADAM Accelerator | Up to $140K | No equity | Thuwal, Saudi Arabia | Next deadline not announced yet |
Velocity FAQ
When is the Velocity application deadline?+
Velocity reviews applications on a rolling basis, so you can apply at any time.
Does Velocity take equity?+
No. Velocity charges no fees and takes no equity from startups. It is funded by the University of Waterloo, the Ontario and federal governments, and donations from past Velocity companies. Separate prize money from the Velocity Pitch Competition is also non-dilutive. A separate Velocity Fund was reported in 2019 to make equity investments, but joining the incubator does not require it.
Do I need to be a University of Waterloo student?+
No. Velocity accepts students, graduates, professors, dropouts and experienced professionals, provided the startup is their main focus. Founders must, however, work from the Velocity space in Kitchener-Waterloo at least one day a week for the first three months, so you need to be in the region.
When can I apply to Velocity?+
Any time. Velocity accepts applications year-round with no deadline and onboards new founders every two months, in January, March, May, July, September and November. Expect to hear back within a couple of weeks, followed by an interview and a milestone period of one to six weeks.
Which companies came out of Velocity?+
Velocity lists Faire, ApplyBoard, Avidbots, Embark, Bridgit, Float, Bartesian and FluidAI among its alumni. It says its 500+ companies have a combined enterprise value above $40 billion and have created thousands of jobs in Canada and beyond. Faire, the wholesale marketplace, is the best-known outcome.
Sources: velocityincubator.com, velocityincubator.com, velocityincubator.com, uwaterloo.ca, uwaterloo.ca, canhealth.com