Innovation Cluster Launches Groundbreaking Women Breaking Barriers Accelerator Program

Statistics show that only 6% of tech companies have a female CEO, and only 8% of Directors on boards of Canadian tech companies are women. As well, only 4% of VC funding goes toward women-led companies and founders who are women of colour get less than 1% of venture capital each year. The Innovation Cluster is working to change their numbers through a groundbreaking new accelerator program.

They have officially launched Women Breaking Barriers, a six-month cohort acceleration program designed specifically for women in science, technology, engineering, mathematics (STEM) and social innovation.

The program will allow participants to fast track their companies and will reduce barriers for female founders including the unique opportunity to pitch to angel investors at the end of six months. This program has been made possible by a $75,000 Seed grant from the Ontario Trillium Foundation. 

Funds will be used to hire professionals, purchase supplies, as well as to operate workshops and events. The overall program will be one year long, consisting of two separate cohorts of up to 10 women that will last six months each.

The fully virtual program has opened applications for the first cohort August 5th, with a start date of September first. Applications are due August 27th at noon. 

HOW THE PROGRAM WORKS

Participants (aged 18 or older) will have every opportunity to accelerate their company during the program, which includes specific and advanced training sessions, weekly mentorship with advisors, peer-to-peer learning, community networking and more.

“Our goal with this program is to increase opportunities and improve the support for women entering a career path in STEM and social innovation,” says Rosalea Terry, Marketing Manager and Senior Innovation Specialist with the Innovation Cluster. “After completing the program, these women will leave with the skills and knowledge to achieve success in their startup.” 

The program ends with each participant guaranteed to pitch to the local Peterborough Region Angel Network, which currently has over thirty investors. The group has invested over $6 million in companies over the years.

To learn more about the unique program, click here.

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