QueerTech, a Montréal-based nonprofit that supports 2SLGBTQ+ tech workers and entrepreneurs, announced this week it has acquired Gradient Spaces, a Toronto-based accelerator for 2SLGBTQ+ startup founders in Canada.
As part of the acquisition, QueerTech said it will maintain key Gradient Spaces’ partnerships and explore new opportunities to expand the accelerator’s impact. QueerTech said it plans to release details on strategic plans and the integration of volunteers in the coming weeks. The financial terms of the deal were not disclosed.
“With this partnership, both organizations have an opportunity to reduce the underrepresentation of the 2SLGBTQ+ community within the technology sector.”
Naoufel Testaouni
Since its founding in 2020, Gradient Spaces has worked to build “affirming, generative, and joyful spaces” for Queer startup founders and ecosystem partners aligned around enabling the success of 2SLGBTQ+ innovators.
Gradient Spaces was created by former team members of Venture Out following mass resignations from the social impact conference in November 2020 that were attributed to inconsistent support for diversity and inclusion from parent company Start Proud.
One of Gradient Space’s key initiatives is its Founder Program, a three-month, equity-free incubator that offers Queer entrepreneurs expert-led sessions focused on topics including customer discovery, go-to-market strategy development, financial planning, and pitch crafting. The program culminates in a pitch day, where founders meet with potential investors.
“Gradient Spaces is thrilled to pass the Founder Program baton to an organization that we’ve admired and worked closely with for years,” Alexandra Baccellieri, director of Gradient Spaces, said in a statement.
Founded in 2016, QueerTech started as a meetup group formed in partnership with MontréalNewTech, to surface and connect Queer professionals within the local tech industry. The organization claims since then, it has helped over 10,000 professionals who identify as 2SLGBTQ+ through professional development and mentorship.
QueerTech has also launched over 125 events in the last eight years, including a national careers fair and its QT Qonference, which features facilitated workshops, presentations, and expert panel discussions focused on fostering entrepreneurship in the Queer community.
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QueerTech has previously partnered with researchers to gain a better understanding of the experiences of 2SLGBTQ+ individuals in Canadian tech. One 2022 survey found that Queer people reported experiencing more harassment and workplace discrimination than non-Queer workers.
One survey completed by the Kapor Center for Social Impact found that 15 percent of LGBTQ2S+ people in Canada’s tech sector feel their career opportunities are limited because of their identity. In a statement, QueerTech said less than one percent of venture capital deals go to Queer entrepreneurs.
In a statement, Naoufel Testaouni, co-founder and CEO of QueerTech, said the acquisition is aimed at scaling the two organizations’ impact through resource sharing and aligning their support expertise.
“With this partnership, both organizations have an opportunity to reduce the underrepresentation of the 2SLGBTQ+ community within the technology sector while accelerating economic inclusion across Canada,” Testaouni added.
Commenting on the acquisition in a recent LinkedIn post, Lisa Durnford, head of compliance for Synctera’s Canadian division and a director on Gradient Spaces’ board, said, “I could not imagine a better, more fitting partner to build on the vision of Gradient Spaces.”
“The QueerTech team is brilliant and thoughtful, I have no doubt they will help so many more 2SLGBTQ+ founders to connect and thrive,” Durnford wrote.
Feature image courtesy QueerTech via Facebook.