Inspiring: Kik Founder Donates $1M To Kickstart University of Waterloo Seed Fund

The founder of messaging app Kik , 23-year-old entrepreneur Ted Livingston , has donated $1 million to The University of Waterloo's VeloCity Residence , a residence-based mobile and digital startups incubator ( dormcubator? ) where his own startup ambitions were sparked . The University of Waterloo says it will use the money to establish a seed fund for student startups and intends to provide "at least 30 student ventures" with $25,000 as well as four months of office space, incorporation services and mentoring over the next few years.