Waterloo receives $1 million USD pledge from Interop Labs

Interop Labs, the initial developer of the Axelar Web3 interoperability network, announced today a $1 million USD donation to grow the Computer Research Endowment at the University of Waterloo. This generous contribution will support the creation of an AI and blockchain research laboratory at the David R. Cheriton School of Computer Science, the largest and top-ranked academic computer science research centre in Canada. The laboratory will be named the GENESIS Lab, standing for Generative AI for Secure, Interconnected Systems.

The donation aims to foster collaboration between academia and industry at the emerging intersection of AI and blockchain while attracting top research talent to the university through PhD fellowships, industry seminars, and postgraduate scholarships.

Advancing research in open distributed systems

The endowment will support an open-source research lab, known as the GENESIS Lab, focused on scalable, secure, multi-tenant, heterogeneous distributed systems with applications in AI and blockchain technology. The GENESIS Lab will offer 12 PhD fellowships to exceptional students and six undergraduate fellowships administered via Waterloo Blockchain, a student-run organization. The introduction of this cutting-edge facility aligns with initiatives like AI agent developer Eliza Labs’ (ai16z) partnership with Stanford University, where researchers are studying how autonomous AI agents can transform digital currency systems.

"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," said Sergey Gorbunov, CEO of Interop Labs, co-founder of Axelar protocol and associate professor at Waterloo. "Waterloo is uniquely positioned to address these challenges, given its amazing talent, open innovation principles and track record."

A history of innovation at University of Waterloo

The University of Waterloo has a well-established history of producing advances in computer technology. It is home to the Institute for Quantum Computing, the Waterloo Data and Artificial Intelligence Institute and the Cybersecurity and Privacy Institute. The university’s open-IP policy removes friction from company formation, turning researchers into entrepreneurs - part of why Waterloo is a leader in graduating unicorn founders. Notable former students in the blockchain industry include Vitalik Buterin, co-creator of the Ethereum blockchain, and Liam Horne, former CEO of Optimism Labs.

"We are grateful to Interop Labs for their generous gift that will help us push the boundaries of AI and blockchain innovation," said Vivek Goel, president and vice-chancellor at Waterloo. "Enabling inter-disciplinary and industry co-operation, this partnership exemplifies Waterloo’s commitment to collaborating with industry leaders as we continue to attract top research talent and innovate solutions for a better future for humanity and our planet."

The Cheriton School of Computer Science is making significant strides in the realm of blockchain and artificial intelligence through strategic partnerships with industry leaders. The school’s director, Dr. Raouf Boutaba, believes this latest collaboration with Interop Labs is set to amplify the global influence of the school’s cutting-edge research.

"Collaborations with industry leaders like Interop Labs, whose groundbreaking work on the Axelar network is shaping the blockchain sector, is the key to accelerating the global impact of the transformative research happening in the Cheriton School of Computer Science," Boutaba said. "This partnership leverages the expertise of both organizations to drive innovation at the intersection of blockchain and AI-an area poised to redefine the future of society."