It’s hard enough to secure funding for your business, let alone secure funding as a student. VCs and investors are generally looking for someone with not only a great idea, but someone who also has experience in the industry. This doesn’t bode well for aspiring young entrepreneurs. To combat this, Ted Livingston, CEO of Kik, has donated $1M to the University of Waterlook VeloCity Residence, a residence-based startups incubator.
The University of Waterloo will establish a $1M seed fund for student startups and intends to provide “at least 30 student ventures” with $25,000 as well as four months of office space, incorporation services and mentoring over the next few years.
This is a great move that’s going to help foster more young, aspiring entrepreneurs reaching their goal of starting a company and building a business. It would be great to see more successful entrepreneurs follow suit. Also, maybe RIM can you cut these guys a break and back off with the lawsuit. Let’s keep small business thriving.