The article not only gives the basics, but gets into the implications of a dorm as incubator for student entrepreneurs; from time commitment issues to ownership of intellectual property. Can’t wait to see what comes out of this attempt at supporting and growing campus entrepreneurs. From the article by Briony Smith:
The University of Waterloo is giving over one of its residence halls to Velocity, a new incubator where students can collaborate on Web, mobile, and digital media applications with their fellow budding tech entrepreneurs and perhaps help breathe some life back into the incubator model.
Velocity will be housed in the 72-bed Minota Hagey dormitory on campus and will house 70 upper-level students per term who will work together on creating viable products and brushing up on their business skills, according to project leader, Sean Van Koughnett, who manages the university’s Media & Mobility Network Project.
While working on more long-term implementations like a campus-wide IP telephony system, Van Koughnett wanted a project that would further digital media on campus but with more immediate results. He figured that many students were already working on mobile and Web applications on their own time, so why not bring them together? Said Van Koughnett: “We don’t know if something will come out of one of these teams, but having a place where everyone can help work on it might help it to happen.”