Entrepreneur and venture capitalist Eva Lau returned to York University’s Keele Campus on Oct. 17 to receive an honorary doctor of laws degree during the Schulich School of Business fall convocation ceremony.
Lau, co-founder of the global storytelling platform Wattpad and founding partner of venture capital firm Two Small Fish Ventures, addressed the graduating class of 2025 with a message rooted in resilience, risk-taking and self-belief.
Chris Carder, executive director at Schulich’s Office of Innovation & Entrepreneurship, introduced Lau as “a Schulich graduate, entrepreneur, investor, mentor and one of Canada’s most respected voices in the technology and venture capital space.”
The York alum then took the podium, noting that this year marks the 20th anniversary since she walked the same stage to receive her MBA.
In her speech, Lau reflected on her journey from Schulich graduate to tech innovator, sharing lessons learned from building Wattpad into a global platform with over 100 million users and leading one of Canada’s top-performing venture capital firms.
Lau’s address focused on three key lessons for the graduating class: embracing risk, leveraging unique qualities and aiming for transformative outcomes rather than incremental gains.
“Entrepreneurship and innovation are not really about making things 10 per cent better, 20 per cent better,” she said. “It’s about making things 100 times better, 1,000 times better, something transformational.”
Lau recounted the early days of Wattpad, when the platform had only a handful of users and generated just $2 in ad revenue. Despite the modest start, she and her husband Allen Lau – a co-founder of Wattpad – made the decision to invest everything they had to keep the company going.
Lau explained that risk in the real world isn't neatly calculated or predicted. Instead, it requires understanding personal limits and knowing how much one is prepared to lose before taking the leap. Without that clarity, she said, it’s impossible to truly commit to a risky decision with confidence.
“We were willing to go to zero, but we weren’t willing to go into the negatives,” she said. “That’s what embracing risk really looks like for an entrepreneur. It’s not about avoiding loss, it’s about defining your boundaries and then giving everything you’ve got.”
Encouraging graduands to lean into their individual strengths, she said, “The best execution comes from knowing who you are – your uniqueness – and leaning into it. Don’t downplay it. Don’t hide it – it’s really your superpower.”
Lau described how her own experiences – scaling Wattpad, working in semiconductors and learning from top global investors – gave her a unique edge when she transitioned into venture capital. Her firm, Two Small Fish Ventures, is now known for backing tech founders who are solving complex problems with innovative solutions.
Her final message urged graduating students to aim high and pursue transformative opportunities.
“Don’t settle for something small,” she said, telling graduands to take bold steps in their careers. “Chase the opportunities that stretch you, the ones that scare you, the ones that could redefine everything.”
Lau closed with a reminder that success is rarely linear. There will be many, many pauses, setbacks and even zigzags, she said, but each twist is part of the journey that prepares you for the next leap forward.
“The world doesn’t need another safe bet,” she said. “It needs bold leaders, innovative thinkers and dreamers who are willing to take that shot.
“Congratulations again, class of 2025. The future is really yours now.”