Movin’ on up

September got off to a great start, with Waterloo topping the top small tech talent market list in CBRE’s Scoring Tech Talent report. This is the fourth year in a row that Waterloo has ranked first on the list, but that’s not all. Waterloo has also ranked in the top 20 markets overall for the last four years.

“To secure our spot as a global leader in tech, we need to keep doing our part to build a supportive ecosystem for founders, attract the best talent, and ensure businesses, post-secondary institutions and government are all working together,” said Angela Larraguibel, Senior VP of Founder Services at Communitech. 

Following Waterloo on the list were Madison, WI and Pittsburgh, PA. These two cities have famous dishes (brats and Primanti Bros., respectively), which begs the question—what’s Waterloo’s go-to dish?

You take the good, you take the bad, you take them both

On Sept. 14, we hosted a roundtable discussion on responsible AI with local tech leaders and Todd McCarthy, Ontario’s Minister of Public and Business Service Delivery and Procurement. Top of mind was the need for policies and cooperation between tech leaders and government to ensure AI and cybersecurity tools are used ethically to protect data and keep people safe.

The Minister also gave an update on Bill 194, Strengthening Cyber Security and Building Trust in the Public Sector Act, 2024. The bill aims to improve digital security and build trust in broader public sector organizations.

“Our government is committed to supporting the responsible development of AI that advances Ontario’s economy while safeguarding our citizens. Communitech exemplifies how innovation can be pursued in a way that is responsible, transparent and ethical. In the Kitchener-Waterloo area, we are working across private and public sectors to cement Ontario as a global leader in trustworthy AI solutions,” said Minister McCarthy.

Everybody finds a way to shine

We welcomed over 75 guests to the Hub on Sept. 19 for another Communitech Breakfast Series event. The morning featured an exciting conversation between Janet Bannister, Managing Partner at Staircase Ventures, and Caitlin MacGregor, CEO and co-founder of Plum, who explored the role of relationships between founders and investors.

Founded in 2012, Plum is a talent assessment platform that uses artificial intelligence (AI) and organizational psychology to help companies make better hiring and talent management decisions. MacGregor met Bannister in 2019, and Bannister eventually led the $5 million round that Plum closed.

“I would not be where I am today and Plum wouldn’t be what it is today if it hadn’t been for Janet and these investments,” said MacGregor.

The morning also featured a talk with Rosie MacLennan, a two-time Olympic gold medalist and co-founder of Trainwave. MacLennan kicked off the event by drawing parallels between the challenges of sports and the ups and downs of being a founder.   

“You’re pursuing a goal with a low probability of success but you’re putting everything into it because you believe it can happen,” said MacLennan. “But on that path, there are incredible highs and incredible lows. As a founder, I’ve experienced the highs and lows, but they often come at the same time.”

MacLennan also joined us in the Communitech Podcast Studio to discuss her founder journey on the Tech About Town podcast.

Thank you for being a friend, travelled down the road and back again

We opened the day with a breakfast and closed it out with the 2024 Communitech Annual General Meeting (AGM). The yearly event is a chance for our members, board and the Communitech team to get together and celebrate a year of helping founders start, grow and succeed.

In her opening remarks, Catherine Graham, Chair of the Communitech Board of Directors, spoke about the resilience of the tech sector and founders, who are at the heart of Communitech's mission. 

“Over the past year, we’ve felt the lingering effects of the pandemic,” Graham said. “In the tech sector, this meant dealing with financial pressures, challenges in securing talent and adapting to new workplace models. At the same time, we’ve also seen incredible advancements in AI, quantum, medtech and more.”

Chris Albinson, Communitech President and CEO, gave an overview of our refreshed three-year strategy and highlights from the Communitech 2024 Annual Report.

“We’re building a supportive ecosystem to give founders the best growth opportunities,” he said. “We’re here to support Canadian founders. We’ll also keep listening, adapting and seizing new opportunities.”

Everywhere you look, everywhere you go, there’s a heart

On Sept. 29, nine medtech startups pitched their solutions at the Fast Track Health showcase. Communitech partnered with the CAN Health Long-Term Care Innovation and Scaling Network, powered by Bruyère to address top priorities for long-term care homes. 

Blake Daly, Health Innovation Lead at Bruyère, opened the hybrid showcase with insights around the importance of growing the Canadian healthtech sector and positioning the country as a global leader in this field.

“Canada has over 2,000 long-term care homes across the country. How many of them are working together to solve healthtech challenges? That’s something we want to change,” said Daly.

Elizabeth Audette-Bourdeau, founder of Welbi Technologies, was driven to solve the challenge of social isolation when her grandfather passed away shortly after moving into a seniors living facility.

Welbi’s platform allows facilities to develop personalized enrichment programs and reduce social isolation. The software gathers resident profiles and preferences to suggest activities that can improve engagement and connection.

“We want this data to be used so we can help our loved ones have a personalized experience and enjoy community living,” she said.

While each founder presented a unique solution for a particular challenge, they all shared a common goal: using the power of technology to improve the quality of life for long-term care residents and the staff who support them.

“We can help be proactive instead of being reactive. This is where the magic happens,” said Audette-Bourdeau. 

Oil that is, black gold, Texas tea

One of our founder members' top questions is how to get in front of VCs. But the answer is often a question—are you sure you’re ready to raise money?

Vartika Manasvi and Mike Kirkup joined us in the studio for the Tech About Town podcast to discuss all things fundraising. Vartika is a Senior Advisor at MaRS Discovery District and a Growth Coach at Communitech. Mike is CTO of EnPowered and Arlo and was previously the Director of UW’s Velocity incubator from 2011 to 2016.

From figuring out if you’re ready to understanding when a VC is just not into you, our Growth Coach experts shared what they’ve learned as startup founders and advisors at MaRS, Communitech, and the University of Waterloo Velocity incubator.

Other news

This edition of the Roundup was compiled by the Communitech News Team. Sign up to receive the Roundup each month by visiting communitech.ca/technews and scrolling to the bottom of the page.