Federal funding support for women-led businesses at Communitech

Women in the Waterloo Region who are looking to get their tech business started will be able to do that at Communitech.

As CBC News reported Thursday, Minister of Small Business and Tourism, Bardish Chagger, announced on Friday that Communitech will receive $880,000 to support women led-businesses in the region.

With the funding, Communitech will begin to establish the Fierce Founders Acceleration program, a seed funding program intended to help women entrepreneurs in the early stages of their business.

"It's important because we are creating investment for the future," said Chagger. "It's creating the conditions for success and we need our women entrepreneurs to be successful and these kinds of opportunities allows them to be."

This seeding program is first of its kind in the region and hopes to increase representation of women in the technology sector. The program will provide support for 20 women-led technology companies by providing them with the resources they need to grow.

"The companies that we are targeting are high-potential companies that will deliver results for the whole community," said Danielle Graham, program manager of women in technology at Communitech.

The Fierce Founders Accelerator program will run in four sessions, each with a handful of participating companies. They will receive up to $30,000 in startup financing, $10,000 in training and mentorship along with free workspace at Communitech. They are accepting online applications from women entrepreneurs across southern Ontario.