Funding | Feb 7, 2025
Image: Sergey GorbunovUniversity of Waterloo Receives $1 Million USD Donation to Boost AI and Blockchain Research
On February 6, 2025, the University of Waterloo announced that they received a generous $1 million USD ($1.4 million CAD) donation from Interop Labs, the team behind a leading Web3 company, Axelar, to boost artificial intelligence and blockchain research. The funding will expand Waterloo’s Computer Research Endowment and launch a new research lab called GENESIS Lab at the David R. Cheriton School of Computer Science. The lab will explore how AI and blockchain can work together and support 12 Ph.D. students and 6 undergraduates through a student led non-profit called Waterloo Blockchain.
University President Vivek Goel says the funding will help attract top research talent and push innovation forward. Raouf Boutaba, director of the Cheriton School of Computer Science, believes the partnership will increase Waterloo’s global influence in decentralized technology. This donation helps Waterloo stay ahead in emerging technologies and build on its history of producing top talent including the likes of Ethereum Co-founder Vitalik Buterin and Liam Horne (former CEO of Optimism Labs).
See: Free AI Courses from Canadian Universities
Sergey Gorbunov, CEO of Interop Labs, co-founder of Axelar protocol and associate professor at Waterloo:
“I believe we’re at the beginnings of what will be known as a complete rewrite of modern computer systems. Superior capabilities powered by AI, coupled with global distribution and payments rails offered by blockchain systems, demand new attention to how systems are built and used. Waterloo is uniquely positioned to address these challenges, given its amazing talent, open innovation principles and track record.”
Axelar’s Role in Web3 Innovation
Axelar (AXL token currently trading at $0.41) focuses on cross-chain interoperability which allows different blockchains to communicate with each other. The platform has facilitated over $10 billion in transfers and processed 2.5 million+ transactions across 69+ blockchains.
See: University of Waterloo Pioneers Endowment-Backed VC Funding in Canada
They partnered with Mastercard, Circle, and J.P. Morgan to explore blockchain financial systems and recently launched Mobius Development Stack, a tool for building apps that work across multiple blockchains.
Why This Matters
By investing in AI and blockchain research, Interop Labs is paying forward the opportunities that helped shape their own success. In turn, the University of Waterloo will equip students and researchers with the tools to push boundaries, solve real world problems, and help create the future of decentralized systems, financial technology, and AI solutions around the world.
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- Source: https://ncfacanada.org/interop-labs-gifts-1-4m-to-fuel-ai-blockchain-at-uw/
