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Daily CSR

Daily CSR
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‘Fierce Founders Accelerator’ To Support Women-led Start-ups


Addressing the difficulties faced by women in leading businesses, Communitech introduces the accelerator bootcamp.

Dailycsr.com – 16 June 2016 – In an announcement, the company of Communitech revealed the “Fierce Founders Accelerator” which will be supporting the “women-led start-ups”. The foundation has taken off with a fund amount of “$880,000” which came from “FedDev Ontario”. As the name suggests the accelerator will be helping women entrepreneurs with resources for growing their start-up ventures in the “Waterloo Region”.
The accelerator programme will include around twenty “high-potential companies” which have either minimum of “one female co-founder or c-suite executive”. Moreover, the start-up participants have to be “in the late validation, early sales stage” to be eligible for the programme’s benefits.
Once they meet the criteria, then they will be able to receive “up to $30,000” fund, residency in the “Communitech Hub” for the period of six months, along with mentoring and other business related support from the “Communitech’s Executives in Residence team”. The first round of the programme will put up a team of around five to seven start-ups, whereby the said team including the “top company” selected from the “Fierce Founders Bootcamp” which is scheduled this summer, will begin their sessions from the month of September 2016.
In the words of the Chief Executive Officer and the President of Communitech, Iain Klugman:
“Research shows, and we’ve seen first-hand, that companies with diverse teams perform better. However, we have not seen the number of female entrepreneurs coming through Communitech that we should. Research also shows that women-led businesses have a harder time accessing venture capital. We’re launching this program to address both those issues.”
While, the Manager of Women in Tech Program at Communitech, Danielle Graham, added:
“We offer programming for every step of a startup’s life, from idea and implementation, to scaling up and securing sales. Through Fierce Founders, women entrepreneurs have the opportunity to turn their business ideas into a reality with the bootcamp, and then accelerate it into a scalable business”.