The institution was established on 1 July 1957 as the Waterloo College Associate Faculties, a semi-autonomous entity of Waterloo College, then an affiliate of the University of Western Ontario. This entity formally separated from Waterloo College and was incorporated as a university with the passage of the University of Waterloo Act by the Legislative Assembly of Ontario in 1959 It was established to fill the need to train engineers and technicians for Canada's growing postwar economy. It grew substantially over the next decade, adding a faculty of arts in 1960, and the College of Optometry of Ontario which moved from Toronto in 1967.
The university is co-educational, and has nearly 27,000 undergraduate and over 4,000 post-graduate students. Alumni and former students of the university can be found across Canada and in over 140 countries. The university ranked 200-300th in the 2015 Academic Ranking of World Universities, 152nd in the 2015–2016 QS World University Rankings and 179th in the 2015–2016 Times Higher Education World University Rankings. Waterloo's varsity teams, known as the Waterloo Warriors, compete in the Ontario University Athletics conference of the Canadian Interuniversity Sport.
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