Tag Archives: female

Coworking Firm to Open Female Only Office in Toronto

With #metoo movement across North America lately, we have seen a lot of services pop up that cater to female clientele only. Just few days we wrote about Uber like ride share for women in Toronto.

The Wing, New York City based, coworking space for women only, has their eyes set on opening an office in Toronto. The Wing , has been around for few years, is a network of co-working and community spaces uniquely designed for women. They have raised $32 million in funding and also announced new offices opening in New York City, Los Angeles, San Francisco, Seattle and London.

Toronto will be their first Canadian location due to Toronto’s recent popularity in the tech scene.

Even though The Wing has a long waiting list, their NYC area  Brooklyn is adding members. Membership in New York right now is $2,350 a year for access to one location and $2,700 for access to all locations.

Co-founder of The Wing, Audrey Gelman said:

“We do rolling membership. We don’t want to open at full capacity, because we want to get a sense of how the space is used.”

The Wing is not just about making money. The Wing’s mission is the professional, civic, social, and economic advancement of women through community. They believe that the act of coming together as women creates new opportunities, ideas and conversations that will lead to greater mobility and prosperity for womankind.

Even though they are growing rapidly, their growth is by no means an easy one. The company is currently under investigation by the New York City Commission on Human Rights for possible discrimination against men due to its no-men-allowed rules.

So female and interested in some co-working space? They are coming to the 6ix in early 2019.

Women’s Only Ride Sharing Launched in Toronto

Update: We have just found out that only few weeks after launching and claiming over 3,000 in downloads, the app, DriveHer, has been hacked and all user data taken. DriveHer had to suspend operations as soon as they found out.

“As a precautionary measure, we are writing to let you know about a data security incident that may involve your information on March 30th -April 3rd, 2018. To our knowledge, the data accessed did not include any credit card information.”

DriveHer rep said that they are looking to see what happened and figure out how data got compromised.

Not the best publicity for the newly launched app and might drive female users to stick with Uber or Lyft instead.

Original Story Below

Women only ride sharing business, DriverHer, similar to Uber and Lyft has recently launched in Toronto with a lot of media covering the company.

Aisha Addo, an app founder of DriveHer, said idea came to her when taking a taxi one night with a male chauffeur who became asking her personal questions about her dating life and if she lived alone. She said that made her feel very uncomfortable and she has decided to do something about it.

Addo said that the app has had over 3,000 downloads on Android and iOS in the past two weeks with over 100 female drivers have signed on as well.

Not everyone was happy though, some potential male customers wondered if this was discriminatory and against provincial human rights:

A lawyer, Saron Gebresellassi, working for DriveHer disagreed that the app is against provincial’s human rights:

“DriveHer is entirely compliant with provincial human rights legislation. There’s no prejudice to the men. They’re not going to be stranded. There’s other alternatives for them to get around. Men aren’t being persecuted by not availing themselves of this taxi service.”

4547 / Pixabay

This service is similar to women only subway trains or bus rides in countries like India or Mexico where male dominated culture oppresses women. However few feminists point out that segregating male vs female does not solve an issue of why women feel unsafe.

Love it or hate it, we live in Canada, where ideas and success of ideas are essentially decided by market supply and demand. And now you have other options to Uber or Lyft, particularly if you are a female taking a ride alone at night.

Canadian 2018 Fed Budget: Tech + R&D

Another year went by and another budget was passed. The good news the deficit will be reduced to about $12b by 2023 and liberals have backtracked on a lot of controversial changes they wanted to pass just few months ago.

Parental Leave

So let’s start with not so techie but important for a lot of startups and entrepreneurs out there – parental leave. Government has passed $1b+ to create a 5 weeks program for fathers to be able to take parental leave with a maximum of 40 weeks (up from 35) for both parents and cap it at 55% of 2nd parent income for as much as 12 months as long father takes the 5 weeks. Lose it or use it – they call it.

Small Businesses Tax Changes

The government has decided to push through with their passive income changes. Basically meaning that if you earn passive income in your business – you will not be able to take advantage of low small income corporate tax rate of 9% but would need to pay full 15% corporate tax rate used for big corporations.

Hold on a second, I am a bit slow – what is a passive income you ask? Basically if you earn income as part of your active business activities it is not considered passive income. So if you sell $10m of widgets and earned $1m – it is NOT a passive income but just income. If now you have decided to reinvest that $1m of income to buy say shares of Amazon and Facebook, and made 5% over a calendar year it would be considered an income earned from investments—stocks, ETFs, bonds, etc., as many smart business owners use for long term savings—then it is passive income.

So back to passive income. Government has decided to be “nice” and will allow you to use small corporate rate when applied to first $50k of passive income. However, from $50k to $150k, you will now need to pay more than small corporate rate, and maximizing it at 15% full corporate rate at $150k of passive income or more.  You will not be affected if you are making less than $50k passive income.

If you reinvested your $1m to buy stocks and those stocks increased by say 20% at $200k in passive income – you will be required to pay the same tax rate as the big boys. So basically government wants all of your money.

Innovation Boost to Science

Government has decided to commit almost $4b over next 5 years to give boost to science specifically physical and life sciences, social sciences and health research. The scientists will receive about half a billion dollars more to do their research through university and government funding.

Females Lead the Way / Big Data

The feds have decided to be nice to female business owners as well committing almost $100m to help them grow their businesses as well as almost $600m to provide advanced computing and big data resources. Canada is a world leader in that.

Cybersecurity Project

Government has decided to allocate over $500m to cybersecurity threats. It will be used to develop a central body to oversee cyber security. Cyber attacks have cost Canadian businesses billions of dollars and government is trying to reprimand that. Even the government itself and several universities were a target of Russian and Chinese hackers and ransomware over the last few years.

Newspapers / News Websites / Blogs

Canadian government has decided to help out underfunded and declining newspaper industry by providing them with a non profit status. as well as $50m subsidy to support local journalism. So now if you run a newspaper or a blog , you will potentially be able to register as a non profit.

Did we miss anything? Let us know.

 

Feds to Up Funding to Female Run Tech Companies

Females of tech world in Canada rejoice! The federal government, or more correctly the Business Development Bank of Canada has upped the support level funding by $20m from $50m to $70m.

This $70m funds have to be dispersed within 5 years to motivate more females to run their tech businesses.

StockSnap / Pixabay

Small Business Minister Bardish Chagger said:

“With the additional investment announced today, the BDC’s funding envelope to support women in tech becomes the largest of its kind in North America. There is still much work to do. I am proud of the fact that today, women have more resources than ever to scale their companies and expand the economy.”

$60m will be directly invested into female run tech firms, while the other $10m will be distributed to regions in Canada that need it most.

Women account for only 18.2 percent of all computer science and 18.4 percent of engineering bachelor’s degrees. So maybe this new funding will entice more female led entrepreneurs?