Communitech

Chris Albinson will leave his role as CEO of Communitech by year’s end to prioritize fundraising for the True North Fund, a venture capital initiative he launched while leading the Waterloo-based tech hub. Albinson, who returned from Silicon Valley in 2021, initially aimed to raise up to $350 million but has so far secured $100 million.

His tenure faced criticism from local entrepreneurs who felt his dual focus on Communitech and True North conflicted with the hub’s support for local startups. CFO Jennifer Gruber will serve as interim CEO as Communitech’s board seeks Albinson’s replacement.

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Communitech announced today the selection of eight Canadian startups for the inaugural cohort of its MedTech Accelerator Program. This new initiative, supported by MACcelerate, FedDev Ontario, the Province of Ontario, and the City of Kitchener, aims to help early-stage medtech founders scale their companies through expert coaching and support.

Participants, including AiimSense, Hera Fertility, Medreddie, and others, will receive personalized guidance on growth strategies, compliance, and market development. The program, which runs from September 9 to October 4, 2024, is designed to foster innovation and improve healthcare solutions.

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