Kik is the successful messaging app that was sued by RIM for patent infringement. The founder, Ted Livingston, recently donated $1 million to The University of Waterloo’s VeloCity Residence. This startup program is to develop young entrepreneurs in Canada, and the University of Waterloo will be matching his donation as well.
Livingston sold his personal Kik shares to raise that money–a very generous action indeed:
â€œWith few responsibilities and surrounded by other talented minds, UW students are uniquely positioned to start world-changing companies. Unfortunately, few investors are willing to bet on young entrepreneurs, especially in Canada, so getting the start-up funds they need is a huge challenge. This fund is a step towards changing that.â€
Kik was supported in its early days by money left by Livingston’s grandfather, and now Ted is passing the buck to support future entrepreneurs. Definitely a great story.