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KITCHENER — It used to be the biggest leather tannery in the British Empire, and today it is the world's largest startup accelerator that supports technology entrepreneurs at no cost, as long as one of the founders graduated from the University of Waterloo.

Opening ceremonies Friday for the university's 37,000-square-foot Velocity Garage attracted scores of people from government, academia and the tech sector. Currently, more than 80 startups are working in the space on the main floor of the Tannery inside 151 Charles St. W.