There are great opportunities in Newfoundland and Labrador to invest in women and non-binary-led tech companies.
That’s according to Rhiannon Davies, founder of Sandpiper Ventures, a venture capital fund that gives money specifically to those types of businesses.
Recently, the provincial government announced $750,000 in funding for Sandpiper.
Globally, Davies explains that only about 3 per cent of venture capital funds are invested in women-led organizations.
Yet, she says those companies are exceeding expectations, meaning there is an opportunity to invest in businesses that are over-performing and under-represented.
Davies says currently they have about 25 companies in the province that they deal with.
She explains the innovation happening with one such organization, Swiftsure, led by Deanne McCarthy.
She says McCarthy is working on technology to support the use of ventilators, which could reduce patients’ time in hospital and save lives.