Briefing

Communitech CEO Iain Klugman to resign from the Waterloo innovation hub

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Klugman will leave his post in 2021 after what will be 17 years leading the tech incubator. The Communitech board will start looking for his successor in early 2020. “The time feels right to hand the reins to a new leader who can take us to the next level, and for me to move on to my next adventure,” Klugman said in a press release. He did not say what he plans to do after leaving Communitech. (The Logic)

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Talking point: Klugman has been a vocal advocate for tech startups in the region, pushing for favourable government policies like the Global Skills Strategy and insisting that tech giants like Google contribute mentorship and resources to the local community. Communitech was hit with a 30 per cent funding cut from the provincial government, first reported by The Logic in May, which resulted in the company laying off 15 of its 105 employees. Klugman told The Logic his departure is unrelated. He said the centre is now focusing more on private financing and that, by the time he leaves, funding levels will be back to where they were pre-cuts.