As a hub of entrepreneurship and innovation, it’s no surprise that companies and founders linked to the University of ݮƵ have a noticeable presence among those featured within BetaKit’s Most Ambitious List.

ݮƵ ranks as the top university in Canada for startup founders and 21st in the world according to the Pitchbook University Rankings. Recently released data shows that Velocity, ݮƵ’s core entrepreneurship incubator, has more than 500 companies with a combined enterprise value of $40 billion.

The Most Ambitious List includes several categories including the “Moon Shots” (Canadians reaching for the stars), “Deep Tech,” “World Savers,” “Category Challengers,” “Expats,” “The Products,” and “The Next Generation.”

From student leaders to established founders and companies, the BetaKit list featured some of ݮƵ’s best and brightest. Of the four organizations listed among the next generation of Canadian tech was Socratica. The social entrepreneurship collective recently hosted an event in ݮƵ that brought together nearly 2500 people to collaborate and share ideas.

"We’re proud to show how when we bring people in, hand them real responsibility and resources, and believe in them, we can do more as an ecosystem," says Jake Rudolph, an engineering student and one of the Socratica’s organizers.

Jetson recognized in the “World Savers” category

Co-founded by Stephen Lake (BASc ’12), Aaron Grant (BASc ’12) and Matt Bailey (BASc ’12), Vancouver-based Jetson is a climate tech product manufacturer that is developing new ways to install heat pumps in residential buildings and homes.

Challengers are breaking open markets and making Canada more competitive

Rachel Bartholomew (MBET ’14), Float, and MappedIn are listed as challengers for reshaping Canadian markets. Bartholomew is the founder and CEO of Hyivy, a company focused on creating therapeutic and remote monitoring devices for gynecological conditions. She is also the founder and lead advisor for Femtech Canada, an advocacy organization for women working in the innovation space.

Former engineering student Hongwei Liu co-founded MappedIn’ while at ݮƵ along with Toby Gu (BASc ’15), Mitch Butler and Leander Lee (BCS ’13). ݮƵ alum Edward Wei (BCS ’06) is MappedIn’s CTO. The Velocity-linked company is an indoor maps wayfinding platform.

Another Velocity-linked company to make the list is Float which is making waves in the corporate credit card market. Last year, Float co-founders Ruslan Nikolaev (BCS ‘20) and Griffin Keglevich secured $50 million to expand its financial products and innovate business-to-business financial services.

Wealthsimple also made the challenger category. Its Chief Legal Officer is ݮƵ arts alum Blair Wiley (BA ’04).

Most ambitious products that have people talking

Among the list of ambitious products are . Able Innovations is a Velocity company that develops solutions for lifting and moving patients within health care settings.

"Being recognized in BetaKit's Most Ambitious list is a great affirmation that Canadian innovation can compete on the global stage when we're willing to take calculated risks and push boundaries,” says Jayiesh Singh, CEO of Able Innovations.“This recognition isn't just about what we've accomplished, it's about the responsibility we have to continue driving solutions that are improving lives and creating better systems."

Rounding out the list are Core Devices, Ideogram, Wave View Imaging and 1Password. Smartware company Core Devices was founded by Eric Migicovsky (BASc ’09). The company recently announced a pair of new smartwatches that run on open-source PebbleOS. Ideogram, a text-to-image platform, was co-founded by William Chan (BASc ’11) in 2022. The following year, it received $16.5 million in seed funding. Wave View Imaging, anon-intrusive imaging system designed to enhance early detection,was co-founded by Elise Fear (BASc ’95) who now serves as CSO.

The CEO of the ݮƵ-led unicorn, 1Password, is Jeff Shiner (BMath ’92). The global cybersecurity company protects more than 150,000 businesses and millions of consumers around the world.

The moon shots reaching for the stars

Two companies with ݮƵ connections were featured for their Canadian-made innovations that are literally reaching for the stars. Canadian Space Mining Corporation (CSMC) is led by COO Adam Gryfe (MBET ’11). CSMC is an infrastructure and technology company focused on filling key gaps in future space exploration in areas that address Earth’s immediate challenges. The CEO of MDA Space is Mike Greenley (MSc ’97). The space mission partner supports communications satellites, Earth and space observation, space exploration and infrastructure.

Deep tech working on the next big breakthrough

Photonic and Xanadu were among the companies included within the deep tech category. Photonic was founded by Stephanie Simmons (BMath ’08). Today, she serves as the company’s Chief Quantum Officer. The company is building one of the first scalable, distributed, fault-tolerant and unified quantum computing and networking platforms based on optically-linked silicon spin qubits.

Xanadu recently unveiled the world’s first scalable, networked and modular quantum computer. The company’s CTO is Nathan Killoran (PhD ’12, physics).

Since its founding, the University of ݮƵ has always been bold and unconventional. It continues to be a place where ambitious innovators and ideas take root. Through transformational research and inspired learning, ݮƵ is helping to identify and solve the complex challenges facing humanity and our planet.

The also includes an interview with ݮƵ professor Larry Smith.