The University of Waterloo has been ranked the top Canadian university for producing successful entrepreneurs with undergraduate degrees, breaking into the top 10 of PitchBook’s 2026 University Rankings at number 7 globally. This marks the first time a Canadian institution has reached that milestone.
Waterloo founders launched 1,303 founders behind 1,006 companies that raised $62.7 billion in venture capital, an 11-place jump from 18th in 2025. The university’s flagship startup incubator Velocity has helped launch more than 500 companies generating over $40 billion in enterprise value.
Notable companies founded by Waterloo alumni include Databricks, Instacart, Faire, Arctic Wolf, and Netskope. According to the university’s recent economic and alumni impact report, Waterloo alumni have founded more than 67,900 companies globally, generating $397 billion annually across sectors like artificial intelligence, fintech, health technology, software, advanced manufacturing, and sustainability.
“Breaking into PitchBook’s top 10 places our university where it belongs, among the world’s leading institutions for entrepreneurship,” said John Dick, Managing Director of Velocity. “More importantly, it reflects what our founders are accomplishing: turning their ambitious ideas into companies that attract investment, create opportunity and deliver meaningful impact.”
The ranking reinforces Waterloo’s role as the anchor of the Toronto-Waterloo tech corridor, which remains Canada’s largest innovation hub. In the graduate degree category, Waterloo placed 54th globally, tied with the University of British Columbia for the second-highest rank in Canada.
