The Aha! Moment: 10 Days to Validate Your Startup Idea

10 days to validate your business idea? Easy? Ask the more than 100 student founded teams that recently did just that. Velocity welcomed its fall 2024 Cornerstone cohort, the largest in its history, from the University of Waterloo.  

Student-led startups spent hundreds of hours in the past ten days focused on validating their business ideas with expert led advisory from Eric Blondeel and Krysta Traianovski, both associate directors at Velocity.

An important step required to turn a startup idea into a viable venture is capturing real-world customer discovery and validation.  

Taylor DeVries, co-founder of FinBud which aims to simplify personal finance for young Canadians plans on taking the data she captured from more than 80 responses to refine the FinBud user experience.  

“I would love to do cornerstone again! Next term the team plans on doing another validation cycle after implementing our new designs,” says DeVries.

Blondeel hopes the number one thing that these emerging founders walk away with is that aha! moment that refocuses them on what they should build instead of what they just think they should build. “This cohort had more teams get a first sale or first paid pilot than any previous in the history of the program.

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The design of Cornerstone workshops and sessions provided the essential frameworks and tools needed to complete the challenge.  

A highlight of fall 2024 Cornerstone was having Daniela Roeper who founded Borealis Wind return and connect with the cohort, following an impressive fireside chat. Roeper shared her unique journey of creating an ice protection system that prevents ice buildup on wind turbine blades, a breakthrough innovation that ensures uninterrupted energy production in cold conditions. BorealisWind, which was acquired by FabricAir in 2023, combines a blower, heater, and duct system to heat the interior of turbine blades, shedding ice from the exterior and significantly improving efficiency.  

Daniela’s experience as a solo founder navigating the challenges of hardware innovation resonated with the student audience. She emphasized the importance of perseverance, foresight, and creative problem-solving—qualities critical to success in any entrepreneurial journey. She also shared the personal and professional dynamics of hiring and working alongside her husband, Dylan Baxter, Director of Technology at BorealisWind, offering both humour and wisdom on blending business and personal life.

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The following student-led startups were recognized for their accomplishments:

• Boardroom (NEon) Cornerstone F24 Jain Family Award for Entrepreneurship ($5,000)
  Boardroom is a software tool designed to provide hardware-focused students with learning materials tailored to prepare them for the workforce. Simultaneously, it offers recruiting teams the ability to evaluate potential hires more effectively.
  Founded by Nain Abdi, undergraduate Electrical Engineering, Faculty of Engineering; and Esther Thomas.

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• Regi – Cornerstone Award Winner ($500)
  Regi provides a cost-effective digital solution for program and event registrations, specifically designed for community centers, neighborhood associations, and small businesses. Their platform integrates seamlessly with existing systems, minimizing disruption while optimizing operations.
  Founded by Nicholas Faria, undergraduate Software Engineering, Faculty of Engineering; and Matthew Bennett (BASc ’24)

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• FinBud – Cornerstone Award Winner ($500)
  FinBud aims to simplify personal finance for young Canadians, offering a step-by-step, intuitive approach to financial literacy. The platform delivers actionable guidance, making it easy to navigate budgeting, saving, and investing, tailored to a younger demographic.
  Founded by Taylor DeVries, undergraduate Software Engineering, Faculty of Engineering; Aiden Asprakis; Michael Gibb; Michael Reed; and Zarek Ting.

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• Transf.r – Cornerstone Award Winner ($500)
  Transf.r is revolutionizing the audio industry with the first automated, lossless DAW-to-DAW conversion tool. This innovation allows for seamless session transfers between different digital audio workstations (DAWs), all while retaining the integrity of existing plugins and workflows.
  Founded by Andrew Krechmer, undergraduate Computer Science and Business Administration, Faculty of Mathematics; Dusan Mitric; and John Surette.

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• Optimus – Cornerstone Award Winner ($500)
  Optimus is optimizing the trucking & logistics industry by providing truckers with data-driven tools for route and pricing improvements. Their system replaces the guesswork in planning with precision, enhancing both efficiency and accuracy for trucking operations.
  Founded by Daniel Shteinbok, undergraduate Nanotechnology Engineering, Faculty of Engineering; Joshua Weland, Nanotechnology Engineering, Faculty of Engineering

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Velocity has empowered thousands of student entrepreneurs, resulting in the creation of more than 400 startups tackling some of the world’s most pressing challenges. By fostering an unparalleled ecosystem of mentorship, resources, and funding, Velocity is here to propel the student and founder journey.  University of Waterloo student founders are building what they believe in.