The student was stabbed on campus just before 5:30 p.m. on Friday.
Police said the male victim had arranged to meet the suspect "to complete a transaction" and that the two were "somewhat familiar" with each other. Police did not say what the nature of this transaction was.
When the two met at the pre-arranged time and place, the victim was robbed of several items and stabbed, said police. The victim was transported to Guelph General Hospital, and then to Hamilton General Hospital with non-life threatening injuries.
Guelph police believe the robbery was targeted and that there isn't an elevated safety concern for the public.
Police are looking for a suspect between 5 foot 8 inches and 5 foot ten inches, with a thin build and black facial hair. He is believed to be between 18 and 22 years of age.