Co-founders of Thalmic Labs in Kitchener make the Forbes' 30 under 30

The co-founders of Thalmic Labs in Kitchener have made the Forbes' list of 30 under 30 in the consumer technology category.

Forbes impressed with venture capital raised and wearable technology

Created in 2012, Thalmic Labs produces the Myo armband which lets a user control their computer touch free. Stephen Lake attributes the company success on the hard work by the team of 150. (Photo provided by Thalmic Labs)

The co-founders of Thalmic Labs in Kitchener, Ont, which produces the wearable motion-controlled device called the Myo armband, have made Forbes magazine's 30 under 30 list for 2017 in the consumer technology category.

Matthew Bailey, Aaron Grant and Stephen Lake, all 27 years old, made the cut. There were more than 15,000 nominations whittled down to 600 people honoured in 20 categories.

The Myo lets users control their computer or other devices touch-free  and it caught the eye of the judges selected by Forbes.

What caught Forbes' eye

Forbes staff writer Ryan Mac said Thalmic is one of the standouts in the consumer technology category among companies who have raised venture capital and outside investments.

"Thalmic Labs, being in Canada, it's not one of the companies you hear about too often in Silicon Valley, " Mac said.

"But once you look at them and see what they've achieved, they've of course raised a ton of money."

That "ton of money" he refers to is $140 million US. Mac said the company's product launch of the wearable arm band is "very interesting."

  • 'Odd one out'

    Lake told CBC K-W The Morning Edition host Craig Norris they're one of the few companies on the Forbes list who are not located in Silicon Valley.

    "We're kind of the odd one out," Lake said.

    "Not only Thalmic, but there are so many interesting companies doing great things in Kitchener-Waterloo ... and more broadly in Canada."

    Lake thinks the Forbes honour will encourage more entrepreneurs to build ambitious big ideas, whether they're right here in Kitchener or elsewhere outside Silicon Valley.

    Lake said while it's a big honour to be part of a significant list, he credits the 150 people at Thalmic that he said are working on some great things.

    Also on the Forbes list

    The co-founders of Thalmic Labs were not the only people from the region to make the Forbes list. 

    Devon Galloway, 29, co-founded the video marketing platform Vidyard in 2010. Galloway made the 30 under 30 list in the marketing and advertising category.


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