Perspective Waterloo Region 2018 by Perspective

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Waterloo Region | 2 0 1 8

Lazaridis Institute Scale-Up Program

Making a National Impact on Canadian Business

Unrivaled Tech-Focused Talent Pool

Expanding Roster of Successful Companies

Vibrant Lifestyle for Young Professionals

STARTUPS THAT ARE BUILT TO SCALE www.acceleratorcentre.com

WORLD RENOWNED PROGRAMMING AND MENTORSHIP FOR TECHNOLOGY STARTUPS

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Economy: • One of the fastest growing areas in Ontario boasting a diverse economy. Everybody talks about Waterloo region’s flourishing tech sector. But did you know that manufacturing accounts for approximately one fifth of our local economy? We’re also really big in advanced manufacturing, food processing, business, finance and education. Education: • Two world class universities and a college: University of Waterloo, Wilfrid Laurier University, and Conestoga College Institute of Technology and Advanced Learning.

Building on Momentum L ast year’s unprecedented home growth in Waterloo Region reinforced the robust economy and quality of life for those living and working in area. The area continues to have a lot to offer, from worldclass universities and colleges, to a mix of stable corporate anchors in the insurance, health, manufacturing, and of course our high-profile technology sector. And nowhere is this more evident than along the Ion LRT line (set to open in spring 2018) where over 2 billion in development has already occurred. Picking up on the momentum from 2016, the first half of 2017 was characterized by an unparalleled number of home sales. There were 6,549 homes sold in Kitchener-Waterloo and area last year through the Multiple Listing System

(MLS® System) of the KitchenerWaterloo Association of REALTORS® (KWAR), just one percent behind matching last year’s record smashing results. Tony Schmidt, president of KWAR says “The quality of life enjoyed living in Waterloo Region has always been at the top compared to many other communities, even though our historical home prices have been relatively affordable. I think this secret is out now, and the activity of buyers from the GTA last year certainly demonstrates this.” The average sale price of all residential properties sold in the KitchenerWaterloo area in 2017 increased 20.7 per cent to $467,513 compared to 2016. When you compare that to the average

About the cover Wilfrid Laurier University’s Lazaridis Institute ScaleUp Program is helping promising Canadian tech firms unleash their global ambitions, which is just one of the many ways that the Region of Waterloo is incubating success.

selling price in Toronto of $822,681 last year, it’s easy to see what could be drawing in the GTA buyers. But price isn’t the only factor making Waterloo region an attractive place for homebuyers. Transportation: • The Ion LRT service is set to begin running in the spring of 2018. The spinoff development along the line has been tremendous and continues to expand with the recent announcement of mixed-use infill at the former Schnieders factory site. • Located along Highway 401, and less than 1 hour from Pearson International Airport • Home of Region of Waterloo International Airport

P e r s p e c t i v e TM 1464 Cornwall Rd, Suite 5, Oakville, ON L6J 7W5 1-866-779-7712 info@perspective.ca perspective.ca

Publisher, CeO Steve Montague ViCe-PresiDeNT Ed Martin Marketing Coordinator Sabrina Woods

Location: • Conveniently located along Highway 401 and 70 kilometres west of Toronto, we’re also close to many US cities Quality of Life: • Live music & festivals throughout the year, great restaurants, breweries, an active arts community, symphony orchestra, an OHL team, sports fields, parks and arenas provide for an active lifestyle no matter your interests Lifestyle options: • Is it the city life or country life for you? There is lots of choice in Waterloo region which is made of three cities: Kitchener, Cambridge, Waterloo and four townships: North Dumfries, Wellesley, Wilmot and Woolwich.

PerspectiveTM Waterloo Region was produced Independent of the Municipalities within the Waterloo Region. Contents are copyrighted and may not be reproduced without the written consent of Perspective Marketing Inc. The publisher is not liable for any views expressed in the articles and opinions do not necessarily reflect those of the publisher or the Municipalities within Waterloo Region.

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Top Occupations Hired by Start-Ups Source: EmployerOne Survey 2017

70% of

Start-ups businesses planned to hire in 2017

Sales and Service Healthcare Occupations Business, Finance and Administration Manufacturing & Utilities

Doing Business in Waterloo

aterloo is home to many successful companies from start-ups to global operations that flourish in their respective industries. The region’s collaborative and robust ecosystem and unrivaled tech-focused talent pool have positioned the area as a global leader and influencer in information and communications technology (ICT), professional services, advanced manufacturing, food processing and more.

150+ Research Centers, including 5 Centers of Excellence for Autotech: Autonomous Vehicle testing track WatCAR GM Innovation Lab

Accounting for approximately one fifth of the economic value created in Waterloo Region, the manufacturing sector continues to be a driving force of the local economy.

One of Canada’s fastest growing communities with population projected to increase 38% by 2036

Communitech Data Hub is Canada’s destination for companies seeking resources to grow their dataenabled businesses through partnerships with institutions like the University of Waterloo, the Institute for Quantum Computing, and the Perimeter Institute for Theoretical Physics. The Data Hub is also home to Canada’s Open Data Exchange (ODX).

Home to Canada’s First Google for Entrepreneurs Technology Hub Thriving Agriculture & Food Processing Cluster

The Toronto-Waterloo-Guelph Corridor is the largest food manufacturing area in the province and has 15+ research centres and institutes related to food processing Farms in Waterloo earn two times more in revenue than the provincial average per acre. Waterloo Region has nearly 1,400 farms and more than 130 regional food manufacturers

Home to Companies Innovating in FinTech Shopify Square Kik

TD Innovation Lab

is a high-energy idea factory that uses design thinking and tech expertise to help TD harness new technologies and disrupt its own operations before they are disrupted by competitors from the start-up world. Through their Innovation Lab, TD has hired a huge number of co-op students to build prototypes, trained employees with ideation bootcamps, and supported several hackathon-type events such as Transformative FinTech. The lab is also used as a point to engage with start-ups to develop long lasting business relationships.

Waterloo offers a compelling competitive cost advantage when compared to other North American cities.

You will spend less to: • hire talent that is more experienced and quicker to contribute to success

• conduct world-leading research and development with the best and brightest minds • purchase or lease real estate

Cutting edge aerospace companies

including Canada’s largest satellite producer, COM DEV, benefit from the outstanding talent in the region. Other key players include HérouxDevtek, Centra Industries, Magellan Aerospace, Raytheon, Navtech and newcomers for unmanned aerial systems, Aeryon Labs.

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450 DOBBIE DRIVE | CAMBRIDGE, ON

For Lease 252,395 sq. ft. $6.25-6.50 per sq. ft.

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Discover. Explore. Play. Learn.

MUSEUMS

Waterloo Region Museum Doon Heritage Village 10 Huron Road, Kitchener 519-748-1914

Schneider Haus

McDougall Cottage

466 Queen Street South, Kitchener 519-742-7752

89 Grand Avenue South, Cambridge 519-624-8250

National Historic Site

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Historic Site

www.regionofwaterloo.ca/museums TTY: 519-575-4608

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Region Makes Shortlist of Candidates for Amazon 2nd Headquarters

he Toronto Region which includes Waterloo for this bid has made it to the second stage in winning the opportunity to be the home of Amazon’s HQ2. “We are thrilled with this news, said Tony LaMantia, President & CEO of Waterloo Economic Development Corporation. With the support of civic leadership of Waterloo Region we were wise to partner with Toronto on the bid. We will huddle with Toronto Global on the next steps.” The bid is being managed by Toronto Global, the arms-length not for profit corporation representing municipalities in the Toronto Region. Toronto Global provided a joint statement from Mark Cohon, Chair of Toronto Global, Janet Ecker,ViceChair of Toronto Global and Toby Lennox, CEO of Toronto Global: “On behalf of all the Mayors and Chairs of the Toronto Region and our partners in Waterloo Region and Guelph, we are thrilled that our bid to attract Amazon’s HQ2 will be moving to the next stage in the selection process. We were proud to submit our proposal alongside some of the most competitive and dynamic Canadian communities, who helped to highlight the great range of advantages we offer as a country. We are even more honoured to be selected as the only Canadian location to move forward in this competition. The Toronto Region stands out internationally as a place to locate and grow successful and thriving businesses. It is an unmistakable

signal that our region is regarded by the finest and most forwardlooking employers from around the world as one of the very best destinations for investment and expansion. The cornerstone of our bid is the incredible pool of talent that the Toronto Region offers to any potential employer. Supported by world-leading institutions of education and research, an agile and open immigration policy, superior infrastructure, a competitive cost structure and quality of life that is second-to none, our region offers Amazon the critical advantages it requires as it seeks a home for its HQ2. Moving forward, we will continue to work closely and cooperatively as a region, coordinating our efforts among the many participating municipalities, to ensure ongoing clarity and coherence to the Toronto Region’s bid. We also look forward to working in close coordination with the provincial and federal governments as we gain a clear understanding of the next stages in Amazon’s process. From a future-proofed talent pipeline, to universal health care and benefits, to an incredibly cost competitive business climate, the Toronto Region is the location that addresses all of Amazon’s needs. That is why we are the destination of choice for so many companies, large and small, from around the world and here at home.” The next stage is expected to take several months before the winning bid is announced.

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Clearpath Robotics

Successful Companies Find Unrivalled Advantages The list of business advantages in Waterloo Region is long and growing and no secret to the expanding roster of successful companies that call the region home.

aterloo is among the fastest-growing communities in Canada, a region built on collaboration, innovation, and entrepreneurism. It has the second-highest density of start-ups in the world, along with the headquarters or development offices of some of the world’s largest high-tech, automotive, advanced manufacturing and aerospace companies. Often dubbed the Silicon Valley of the North, the region is home to five $1 billion-plus valuated companies, including OpenText, BlackBerry and Kik, a deep and well-connected

innovation ecosystem, and a patent granted per capita rate almost four times higher than the Canadian average. So, why all this success?

Education and talent The region produces top talent in business, IT, engineering, professional services and technical and skilled trades at three top-ranked post-secondary institutions that have pioneered the co-op education model adopted around the world. The University of Waterloo has been named Canada’s most innovative university 26 years in a row, has launched some of the country’s largest technology companies and is home to the largest post-secondary coop program in science, technology, engineering and math in the world. Wilfrid Laurier University offers the largest business degree co-op program in Canada and is ranked No. 1 in student satisfaction. Conestoga College is a leader in polytechnic education, provides

Ontario’s only college-based, accredited engineering degrees and is home to the Institute of Food Processing Technology, a crucial economic sector in the region and country. Waterloo was Canada’s fastest growing tech talent market for the second year in a row in 2017, increasing its talent pool by nearly 66 per in the last five years and adding 8,400 tech jobs. It was the secondfastest growing market in North America, behind only Charlotte, North Carolina.

Geography Waterloo has tremendous geographic advantages, including its location along Hwy 401 and direct access to more than 150 million customers within a 12-hour drive. Waterloo is home to an international airport and is an hour’s drive from Toronto Pearson International Airport and the country’s biggest air cargo hub at Hamilton International Airport. It is also within a two

to three-hour drive of six border crossings and close to ports in both Hamilton and Toronto. Waterloo is at the heart of the Toronto-Waterloo Corridor, a stretch of 112 kilometres of talent, growth, and discovery that is the second-largest innovation supercluster in North America. The corridor has been a continental leader in the attraction of foreign capital investment.

Low cost Investors understand that Waterloo offers compelling cost advantages in securing talent (with lower ICT labour costs than in the U.S., U.K., France, Italy, Germany, Netherlands and Japan) and purchasing or leasing real estate over other North America innovation hubs. As well, companies based in Ontario enjoy the lowest overall business costs in the G7, spend 32 per cent less in corporate taxes than counterparts in the United States and can access a wide range of tax and R&D incentives.

Perspective Business and innovation ecosystem The Waterloo Economic Development Corporation (WaterlooEDC) is an independent, not-for-profit organization with a lengthy list of services, programs and resources for companies looking to locate or expand in the region. Those include a world-renowned two-year Accelerator Program, extensive start-up supports, and mentorship programs. Other central players in the region’s innovation network are: Communitech, which was founded in 1997 by a group of Waterloo entrepreneurs aiming to raise the profile of the local tech community and has grown into a celebrated innovation centre supporting more than 1,000 companies;Velocity, a leading entrepreneurship program at the University of Waterloo and the largest free start-up incubator in the world, offering a student dorm, workspaces in Waterloo region, events, mentor programs and seed funding; the Waterloo Small Business Centre, which links business professionals with entrepreneurs to provide business planning advice and

direction, regardless of industry sector or stage of business development. Along with a deep talent pool, the region has a strong selection of competitively priced, fully serviced and zoned sites for companies of any size.

Diversification A huge part of Waterloo’s success comes from the diversification of its economy, as it has built and attracted global players in business and financial services, manufacturing and information and communications technology. Manufacturing accounts for about one-fifth of all economic value created in Waterloo and its highly diversified advanced manufacturing sector of more than 40 producers generates close to $6 billion annually in fields including automation, robotics, automotive, aerospace, food processing, plastics and fabricated metals. Leaders in the field include Honeywell Aerospace, ATS Automation Tooling Systems and Toyota. The region offers access to more than 150 leading research facilities and

w at e r l o o networks, such as the Centre for Smart Manufacturing, the Manufacturing Innovation Network, the Centre for Advanced Materials Joining, the Centre for Automotive Research, the Institute for Polymer Research, and the Waterloo Institute for Nanotechnology. If that’s not enough, Catalyst137 offers 450,000 square feet – the largest of its kind – of co-working space and showfloor environments for high-growth manufacturing scale-ups. Waterloo has earned a reputation as a global leader and the heart of ICT innovation in Canada. That includes everything from big data, embedded security, autotech and artificial intelligence to quantum and nanotechnology. The region is home to the brightest minds in the industry, Canada’s first Google for Entrepreneurs Technology Hub, and home-grown sector leaders include Clearpath Robotics, Thalmic Labs and D2L.

Quality of life Waterloo Region is comprised of the three cities of Kitchener, Waterloo

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and Cambridge and the surrounding four townships. With a population of 575,000 in 2015, Waterloo Region is the fourth-most populated census metropolitan area in Ontario and 10th largest in all of Canada. Waterloo offers an unparalleled quality of life, combining urban amenities with a relaxed, smalltown vibe. The region is served by extensive public transportation and road infrastructure. Residents enjoy a 16-minute median commute time, much less than half that in the GTA. There are ever-increasing two-way commuter options to Toronto. Home prices are 30 per cent lower than the provincial average (and roughly half that of the GTA), with a range of housing that includes interesting adaptive reuse of warehouses and factories, new urban condos, as well as both suburban and rural homes just minutes away from employment centres. Waterloo also boasts vibrant arts and culture, sports and outdoor recreation activities and events. The community is built around than 3,000 acres of parks, six conservation areas and the beauty of the stunning Grand River.

Visionaries Wanted Join the self-driving revolution. www.ottomotors.com/careers Clearpath provides self-driving vehicle technology and services to over 500 of the world’s most innovative brands. Proprietary hardware, software, and services are delivered through the company’s industrial and research divisions: Clearpath Robotics and OTTO Motors. We employ a diverse and highly talented team who live and breathe robotics. We believe that work must have a high “cool” factor and every day must bring new knowledge. We need more passionate people on our team who will push the boundaries of robotics into focused and practical applications. Clearpath is automating the world and we need your help. Have you got what it takes?

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Karn Manhas, Founder & CEO of Terramera, was selected to participate in this year’s Lazaridis Scale-Up Program

Promising Young Tech Entrepreneurs selected for the Lazaridis Scale-Up Program The Lazaridis Scale-Up Program is just one of the ways in which the Lazaridis School of Business & Economics is making a national impact on Canadian business.

arn Manhas’ entrepreneurial career started with an argument. “I was debating with a friend whether natural ingredients are as effective at controlling pests as synthetic chemicals,” he recalls. “There’s this belief

that anything natural has to be ‘snake oil.’ But that makes no sense to me from a biological or evolutionary point of view.” Determined to prove natural pest control is not only possible, but potentially more effective and efficient than man-made chemicals, Manhas put his background in genetics and biotech to work founding Terramera, a Vancouver-based biopesticide company. His first product was a 100 per cent effective, non-toxic bedbug treatment made from oil extracted from the fruits and seeds of the evergreen neem tree. Terramera has grown into an 85-person business and expects to grow revenue by 50 to 100 per cent in the coming year

as it seeks to revolutionize global food production. “Our goal is to replace the synthetic chemicals used for fertilizer or pest control with more-effective, natural alternatives so we can make food healthier and more affordable and feed the world,” says Manhas. His vision of fertilizers made with allnatural ingredients has earned Terramera plenty of attention. But before the revolution can begin, Manhas needs to figure out his org chart, hire the right people and learn how to build better customer relationships. Turns out there’s more to changing the world than simply having a brilliant idea.You also need to know how to grow your company. “If

you don’t scale up properly,” he warns, “you’ll hit a ceiling. Or worse, you’ll implode.” Manhas is part of Canada’s vibrant tech community that’s bursting with eager young minds and great ideas – driven, in large part, by a top-notch university system that produces plenty of raw talent. Despite all the excitement surrounding our abundance of startup efforts, however, the relative paucity of Canadian unicorns − globally dominant tech firms valued at US$1 billion or more – is a sign we lack some key elements to turn all those brilliant ideas into world-beating, flag-waving, highgrowth companies.

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Vitaly Pecherskiy, Co-Founder of StackAdapt, a Toronto-based advertising technology company It’s a deficiency Wilfrid Laurier University’s Lazaridis Institute for the Management of Technology Enterprises was born to solve. Terramera is one of 10 young tech firms selected to participate in this year’s Lazaridis Scale-Up Program. Funded by famed Canadian tech entrepreneur Mike Lazaridis, with matching funds from the Ontario government, the Lazaridis Institute is also building a national database of innovative startups and scaleups, a world-class research program, and curriculum for today’s tech companies and tomorrow’s leaders. The Lazaridis Scale-Up program functions as a sort of gifted class for the nation’s most-promising young tech entrepreneurs. These are companies that have outgrown the startup phase and need support to scale up to the next phase of growth. With a customized menu of mentorship, networking and expert advice, the program is designed to push Canadian firms toward success in global markets. Prior to launching in 2016, the Lazaridis Institute surveyed key players in the tech sector to uncover the roadblocks to success in Canada. The number one issue was a lack of experienced managerial talent, particularly in sales and marketing. “It’s a chicken-and-egg problem,” notes Bryan Bogensberger, associate director and executive fellow of the Lazaridis Institute. “If you don’t have a lot of Canadian firms that have scaled globally,

then you don’t have a lot of people in Canada with that sort of expertise to draw on.” This absence of a sufficiently deep pool of seasoned managers poses a serious constraint on growth, Bogensberger observes, particularly when compared to the vast tech networks in Silicon Valley. (Bogensberger, by the way, is one of those Canadian serial tech entrepreneurs in such short supply; he’s now on his fourth startup, Quiver, his biggest success coming with the sale of cloud computing firm Inktank in 2014 for US$175 million). “We are very lucky in Canada to have lots of great schools producing lots of great engineers,” says Vitaly Pecherskiy, co-founder of StackAdapt, a Torontobased advertising technology company, and a participant in last year’s inaugural Lazaridis Scale-Up Program cohort. “Recruiting junior talent is fairly easy for us. What is not easy is finding senior talent, especially managers who have ‘been there and done that.’ We simply don’t have the same-size tech ecosystem here as there is in California.” The year-long Lazaridis Scale-Up Program is specifically designed to overcome Canada’s disadvantages in senior management tech talent. There are three components. First, founders of the 10 firms meet once a month for six months at various locations throughout North America for weekend workshops led by international experts (often from Silicon Valley) on topics crucial to scaling-up, such as leadership, metrics

w at e r l o o and product strategy. These program weekends are opportunities to learn best practices from leading practitioners. Second, each firm is paired with a mentor – a successful entrepreneur who provides personalized advice on demand. Finally, there’s a roster of international specialists available for additional help in areas outside of the mentor’s expertise. Mentors and specialist are available for 12 months. For the first two cohorts, the entire program has been free. “We didn’t want to limit ourselves to companies with the cash flow to pay for this sort of help,” says Kim Morouney, managing director of the Lazaridis Institute and Lazaridis Professor of Executive Development. “We want the freedom to select companies with the ambition and the potential to dominate globally.” Just as every company experiences different problems when scaling up, each participant tends to focus on a different aspect of the program. For Kevin Forestell, a member of last year’s cohort, it was timely advice from his mentor. Forestell is co-founder of Dozr, a sharing-economy firm that matches owners of idle bulldozers, backhoes and other heavy equipment with companies looking for short-term rentals. His mentor was Samer Hamadeh, a serial entrepreneur and current CEO of Zeel, an on-demand massage therapist service based in New York City. While arranging massages may seem a world away from swapping dump trucks, Forestell says Hamadeh offered key insights regarding online customer experience. “He brought marketplace experience to our website,” he notes. “And we saw our

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gross market value increase by 900 per cent in six months.” For Manhas, it’s access to specialists and workshops. “We’re in the middle of a roller coaster of growth,” he says. “And we are using what we’re learning from the Lazaridis Scale-Up Program in real time.” He rewrote his company’s mission statement after attending the first workshop. Interacting with the program’s experts, some of whom are now working directly with Terramera, has also changed how he thinks about product development and corporate leadership. The obvious short-term goal of the Lazaridis Scale-Up Program is to help promising Canadian tech firms unleash their global ambitions by giving them customized access to seasoned management advice. But its long-term plans could prove much more significant. With a new cohort of graduates every year, over time the Lazaridis Institute is creating a reservoir of home-grown managerial talent and a business network sufficient to resist the powerful gravitational effect of Silicon Valley. “We are building the next generation of mentors and global experts right here in Canada,” says Morouney. “It’s quite remarkable to see a university, government and private investor work together on something like this,” adds Manhas. “If the companies that come out of the Lazaridis Scale-Up Program are successful, it will have a real impact on the Canadian economy. This is a recipe for creating the cultural shift in leadership we need in the tech sector. And it’s a privilege to be part of it.”

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w at e r l o o Kitchener City Hall

Live, Play, and Work in the Region of Waterloo

omprising 3 cities and 4 townships, the Region of Waterloo, located in the heart of Southern Ontario, offers a seamless blend of rural and urban landscapes, and modern and traditional living. Housing is inexpensive, while salaries and wages are comparable to big cities such as Toronto and Ottawa, and the cost of living is competitive. Waterloo Region is home to premier universities and colleges and has the infrastructure to cater to a large and diverse student community. The region supports over 30 minor sports organizations and a host of others that promote music, arts, drama, history, and culture. The driving force of the Waterloo Region’s future is its merged classical and contemporary living, easy transportation and housing, access to top-class learning, job creation, and an active lifestyle. Here is an overview. Getting in and Getting Around

Home to the Region of Waterloo International Airport (YKF) and within an hour’s drive from both Downtown Toronto as well as the Toronto Pearson International Airport (YYZ), getting in and out of the Region of Waterloo is fast and simple. • Grand River Transit operates a network of conventional buses, express buses, busPLUS community routes, and a door-to-door specialized vehicle service for riders with disabilities to ensure that getting around within the region is smooth and efficient. • ION, the Region of Waterloo’s rapid transit system that includes Light Rail transit (LRT) and Bus Rapid Transit, is already underway and will be operational in 2018.

• Waterloo Region is at the heart of the Grand River waterway, one of the best managed waterways in the world. Numerous milestones and relics along the Grand River have had a role to play in the development of the region. With more than 500 kilometres of on-road bikeways and off-road multiuse trails, it is easy and safe to ride bikes within the neighbourhood as well as for commuting to work. Development and Infrastructure A strong base of manufacturing and finance companies contributes to Waterloo Region’s economic prosperity and infrastructure development. Additionally, the region’s vast talent pool, cutting-edge research practices, and entrepreneurial spirit has become a magnet for technology companies that are driving employment in this area. Over 30,000 Information Technology professionals currently work in Waterloo Region, which is fast evolving into a global tech and innovation corridor. It is no surprise that it has been dubbed ‘The Silicon Valley of Canada’. The Region is home to 3 world-class hospitals, over 170 public and Catholic schools, and close to 20 private schools. The region also offers access to 3 top-tiered learning institutions, University of Waterloo, University of Guelph, and Wilfrid Laurier University, as well as one of Ontario’s premier colleges, Conestoga College Institute of Technology and Advanced Learning. Currently, around 70,000 students across these 4 institutions are being groomed into bright and talented professionals.

Lifestyle and Recreation Waterloo Region offers an exciting outdoor lifestyle with over 3,000 acres of parks, 6 conservation areas, and over 20 golf courses.You can enjoy sports and recreation activities that range from dragon boat racing, to fishing on the Grand River, to skating, skiing, and ice hockey. A large majority of residents live within a 30-minute drive to work, allowing a healthy work-life balance and a reasonable amount of time for socializing and community living. The region’s cities

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and townships host over 60 arts, culture, and heritage festivals all year round. One of its most popular festivals, KitchenerWaterloo Oktoberfest, has evolved into the world’s 2nd largest Bavarian festival, next only to the Oktoberfest held in Munich, Germany. The region celebrates various genres of music through festivals such as TD Kitchener Blues Festival, Sunlife Financial Uptown Waterloo Jazz Festival, and Open Ears Festival of Music and Sound, amongst many others. Strong and diverse communities promote culture and performing arts, including the KW Symphony, Centre in the Square performing arts centre, Drayton Festival Theatre, and Dunfield Theatre Cambridge. With exciting jobs, access to and innovation of the latest technology, affordable housing, top learning institutions, and a vibrant lifestyle, the Region of Waterloo is emerging as a preferred base, for young professionals and families to live, work and play. Sources: http://www.waterloo.ca/en/visiting/ topreasonstolivehere.asp http://www.explorewaterlooregion.com/

Welcome to the

Inn of Waterloo and Conference Centre

Perfectly located in the heart of Canada’s Technology Triangle, the newly renovated Inn of Waterloo and Conference Centre is an impressive destination for corporate events in the Kitchener-Waterloo area.

475 King St N, Waterloo, ON (519) 804-1130 1-866-875-6410 info@theinnofwaterloo.com

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Robust Infrastructure Attracts Commercial Investment

Google, Communitech, Desire2Learn, and many others are tenants in The Tannery, a historic Kitchener building.

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aterloo Region is often thought of as a technology centre but diversification is one of the region’s greatest assets. Its economy runs deep into automotive, advanced manufacturing, financial and professional services, food processing and logistics and distributing. Demand for industrial real estate is extremely strong, says Peter Whatmore, executive managing director for CRBE, southwestern Ontario. “You can sell or lease whatever you get your hands on if it’s a good product.” He expects strong construction activity throughout 2018. Institutional and large corporate investors are moving into Waterloo in a “natural migration out of the GTA,” said Ted Davis, managing director and broker of record with Avison Young, southwestern Ontario. “From a capital market investor standpoint, GTA prices are so high and returns are so low, that investors can’t find deals. So they are looking to what was once considered tertiary markets and chasing returns into Waterloo.” When commercial investors talked about “west of Toronto,” they used

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transit service, a deep and skilled labour pool, educational partners, urban and cultural amenities – is already firmly established. There is also a deep network of supports to foster and grow start-ups, retain talent and commercialize local research, says Davis. “From start to finish, the foundation is there in Waterloo to grow companies.” While office vacancy rates remain high in Waterloo, about 17.5 per cent in the fourth quarter of 2017, according to CBRE data, office lease transaction

Google Kitchener-Waterloo

to mean Mississauga, Brampton and then Milton. Now it’s Waterloo Region. “Some GTA companies have little choice but to look at moving west,” echoed Whatmore. “GTA prices are becoming restrictive. Waterloo is two to four less expensive but still has the diversified employment base.”

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Investors and tenants from the GTA are joining the strong growth of home-grown companies and a surging contingent of talent seeking affordability and quality of life. A huge advantage of the region is that the critical infrastructure to attract commercial investment – strong and connected transportation links, public

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volume reached its highest level in over five years in Q4 2017 and significant new development signals pent-up demand for quality office space, says Whatmore. A downtown Kitchener tower by Perimeter Development Corp. will cater to an elite professional services tenant and is the largest in Waterloo Region in two decades. “It’s very exciting and it will attract attention across the industry. We are anticipating some additional announcements this year.”

20 Tyler Street, Cambridge

We love helping people hear better Explore your career options in: Software Development, Marketing, Sales, Engineering, Audiology, Customer Service, Purchasing, Finance, HR or Logistics unitron.com/careers

Unitron is part of the Sonova Group, the leading manufacturer of innovative hearing care solutions. We are proud to have designed the world’s smallest hearing aid and even prouder that we won our 5th consecutive Red Dot design award. Our innovative thinking continues with our work in digital health, mobile apps and web and cloud development. Join our 100+ R&D professionals – including experts in audiology, mechanical electro-acoustics, algorithmic and software engineering – in our Kitchener Development Centre who share a passion and drive to improve the lives of people with hearing loss. Because hearing matters. A Sonova brand

Building Ontario’s Technology Corridor A leader in career-focused education and training, Conestoga has been a vital contributor to the economic development of Waterloo Region for the last 50 years. Almost 55 per cent of adults in the local community have accessed Conestoga programs: our graduates contribute more than $2.3 billion each year to the regional economy. The transformation of the college’s Waterloo campus, to be completed in 2018, will create new capacity for innovation, economic growth and long-term prosperity across our region and beyond. Poised at the gateway to Waterloo’s dynamic education corridor, this new, state-of-the-art facility will serve the needs of our growing community: Fueling the Talent Pipeline with expanded programming in information and digital technologies and management excellence, key drivers for economic development. Fostering the Creative Economy and advancing local food culture through innovation, entrepreneurship and collaboration with the world’s leading culinary and hospitality educators. Forging Pathways to Success for new Canadians, individuals in transition and other underrepresented groups through specialized programming and services to address learner needs.

Discover the polytechnic advantage. Discover Conestoga.

www.conestogac.on.ca

Perspective

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Inspired Teachers Inspire Students

t SJK, we embrace a global perspective that exposes students to the opportunities and challenges of a connected planet. Our students learn through inquirybased instruction where they have the opportunity to try new things, discover their passions and learn to value different points of view. We create an environment that encourages risk-taking because we are confident enough to trust in the learning that follows thoughtful failure. Importantly, our students know it is safe to try here. Regardless of time, culture, technology or trends, one thing in education remains constant - relationships are at the heart of student success. The best stories of student success involve a caring adult such as a coach, mentor, advisor, or teacher. We believe in the power of developmental relationships and that students learn best when engaged in purposeful, healthy relationships between teachers and young people. We strive to create a community of teachers whose thinking, interactions and relationships with students, parents and each other are authentic, caring and professional.

Our school community is comprised of inspired, outward- and forwardlooking teachers whose academic and professional experiences are augmented by in-depth experiential learning in real time. Supported by a culture of faculty learning in the pursuit of excellence and innovation in teaching, teachers at SJK have the freedom to pursue innovative approaches to learning and collaborating, in technology-rich environments, which equip students with a new kind of thinking for a new kind of world. St. John’s –Kilmarnock School (SJK) is the leading co-educational independent school in the Waterloo Region. Established in 1972, the School is located on a beautiful 36-acre natural campus. It offers enriched educational programming for students from JK – Grade 12 through its accredited International Baccalaureate (IB) curriculum. At SJK students find their excellence within, love to learn, and graduate as confident, well-rounded individuals, fully prepared for post-secondary education and life beyond. Innovation lives here.

GO BEYOND. Learn more at www.sjkschool.org 2201 Shantz Station Road, Waterloo Region (Breslau), Ontario N0B 1M0

The supply chain never sleeps. And neither do we. At Transplace, we are relentless in executing our customers’ transportation and supply chain needs to achieve profitable and predictable results. Continuous improvement and innovation is core to our culture, and we aren’t satisfied until you are. Learn more about our North American logistics and technology solutions at Transplace.com. 1.866.413.9266 | info@transplace.com

R E S T E A S Y. W E W O N ’ T.

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T 226.366.9090 avisonyoung.com 24,201 SF

53,960 SF

63,278 SF

SOLD IN 2017 INDUSTRIAL

600 Doon Village Road, Kitchener

77,700 SF

OFFICE

125 Guelph Avenue, Cambridge

236-264 Victoria Street, Kitchener

18,357 SF

120 Main Street, Cambridge

1477 Bishop Street N, Cambridge

60,966 SF

231 Shearson Crescent, Cambridge

FOR SALE

SALE/LEASE

FOR LEASE

RETAIL

AVAILABLE Office | 16,000 sf Guelph MULTI-FAMILY

LAND

FOR LEASE

Office/Retail | 27,000 sf Kitchener

Office | 20,000 sf Kitchener/Waterloo

Office/Retail | 16,606 sf Guelph

FOR LEASE

Industrial | 27,135 sf Guelph

Avison Young Commercial Real Estate (Southwestern Ontario), Brokerage 231 Shearson Crescent, Suite 210, Cambridge, ON N1T 1J5 T 226.366.9090 F 866.541.9755 Â©2018 Avison Young (Canada) Inc. All rights reserved. The information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified and as such, cannot be warranted nor form any part of any future contract.

The Lazaridis Institute is designed to ensure that Canadian technology companies have the management, talent and knowledge to compete in global markets. MICHEÁL KELLY, DEAN, LAZARIDIS SCHOOL OF BUSINESS & ECONOMICS

“The whole theme here is about making the transition from being a startup company into scaling up.” BILL REICHERT, MANAGING DIRECTOR AND CO-FOUNDER, GARAGE TECHNOLOGY VENTURES

“

It’s really hard to scale up. It’s a whole different type of problem than being a successful startup.

STEVE ADELMAN, US MARKET ACCESS CENTRE AND MANAGING DIRECTOR, NEXUS PARTNERS

”

Learn more about the ten Canadian tech companies selected for this year’s Lazaridis Scale-Up Program. Helping them to deliver sustained growth and preparing them for global breakthrough.

LazaridisInstitute.ca