Established: 2002 Founder: Dr. Howard Armitage Faculty: 9 Staff 4 | Type: Public Executive Director: Dr. Rod McNaughton Advisory Council 24 Province Ontario | |
Address 295 Hagey Blvd, Suite 240, Hagey Blvd, Waterloo, ON N2L 6R5, Canada Profiles | ||
The Conrad Business, Entrepreneurship and Technology Centre is part of the Faculty of Engineering at the University of Waterloo. Located in the city of Waterloo, Ontario, Canada, the Centre was developed to support and expand Waterloo's culture of entrepreneurship through four key initiatives: The Master of Business, Entrepreneurship and Technology (MBET) program; professional development programs; research; and undergraduate-level activities.
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Campus
The Conrad Centre is located in the University of Waterloo's David Johnston Research and Technology (R&T) Park which is located north of the main campus.
History
In 2002, the Conrad Business, Entrepreneurship and Technology Centre was established to help the University of Waterloo advance the state of entrepreneurship education, research and executive development in Canada.
Despite the existence of many established business programs in Canada, the country's record remained weak for managing and mobilizing entrepreneurial and technological opportunities into commercially viable products and businesses. MBA programs dominated formal business education, yet many firms, business press and business educators, questioned the effectiveness of this traditional programming and its ability to act as catalysts of innovation.
In response to this gap, the University of Waterloo established the flagship Master of Business, Entrepreneurship and Technology program (MBET) and admitted the first class of students in September 2003. On the Conrad Centre's website, MBET is described as a "degree that produces graduates who are set apart from their colleagues in general business programs by emphasizing technological, innovative and entrepreneurial energies that are the foundation of Waterloo’s reputation. The program has been designed specifically to fill a market need for individuals with the business knowledge and skill to successfully move ideas and innovations into commercial practice."
In 2010, a major gift from the Conrad family (local philanthropists and founders of the Cora Group), was received in the amount of $3 million, on top of a previous $2 million contribution, and resulted in the renaming of the Centre to reflect the Conrad family name. These donations allowed "the Centre to expand its entrepreneurial academic, research, and outreach activities in Canada and around the world."
Recognition
Students who pursue entrepreneurial professions after their graduation from the MBET program are frequently recognized for their innovation and leadership. Some sources include the Toronto Star, The Globe and Mail, and The Record.
Enterprise Co-op
Enterprise Co-op (E Co-op) is a signature Waterloo program for entrepreneurially-focused undergraduate students in the co-operative education program. Unique to the University of Waterloo, E Co-op offers students the opportunity to earn co-op credits by building their own business.
The program allows students from a variety of disciplines to pursue their business objectives in a managed, supportive environment. Students are required to provide regular updates and reports, maintain an activity log and establish a relationship with a chosen mentor in the business community. Since its inception in 2002, more than 179 students have pursued the program, and approximately 50% have continued to build their own business following graduation.
Master of Business, Entrepreneurship and Technology (MBET)
The Master of Business, Entrepreneurship and Technology program (MBET) is a specialized degree focusing on the commercialization of entrepreneurial and innovative ideas.
International Ranking
According to the Times Higher Education World University Rankings 2009, the University of Waterloo was ranked 113th overall, 27th in the world for technology, 56th in the world for the natural sciences, and 114th in the world of life sciences and bio medicine.
According to the Academic Ranking of World Universities conducted by Shanghai Jiao Tong University, the University of Waterloo was ranked 201-302, 100-136 in North America, and 76-107 in Engineering Technology/Computer Science.
Maclean's Rankings
Waterloo has a long history of high performance in Maclean's magazine's Canadian university rankings. For the past 20 consecutive years, the University of Waterloo has placed first overall among comprehensive universities in all four categories: Best Overall, Highest Quality, Most Innovative, and Leaders of Tomorrow. Maclean's describes the university as "strong in math, engineering and computer science," as well as being "internationally recognized for the unparalleled success of its more than 100 undergraduate and graduate co-op programs."
Ties with Industry
Through its large co-op program and many spin-off companies, the University of Waterloo maintains close ties with the high-tech industry.
Waterloo has a long-standing intellectual property policy that leaves ownership rights with the inventor, rather than the university. The university has a strong connection with Research in Motion (RIM), the makers of the Blackberry. Co-founder and Co-CEO Mike Lazaridis is a Waterloo alumnus, and once held the role of chancellor at the university. RIM hires hundreds of Waterloo co-op students each term and a large proportion of its employees are Waterloo alumni.
During his visit to Waterloo in October 2005, Microsoft co-founder Bill Gates stated, "Most years, we hire more students out of Waterloo than any university in the world, typically 50 or even more".