For Jennifer Gruber, what began as an academic journey quickly turned into a lasting connection to Waterloo Region – and before long, the community became home.
“I was drawn to the region because it offers the perfect balance,” Gruber said. “It has that small-town charm, where you can walk down the street and still know your neighbours, but it also offers big-city amenities. It's a place where tradition meets innovation and it’s easy to see why it’s become one of North America’s top tech hubs.”
Gruber, recently appointed interim CEO of Communitech, now lives in Kitchener with her husband and their three children, where they’re actively involved in the community.
“Waterloo Region is the perfect place for us,” Gruber adds. “It’s where we’re building our lives, our careers and creating a future for our kids.”
CFO to interim CEO
Before venturing into finance, Gruber spent 12 years in the Canadian Armed Forces Reserves, where she sharpened her leadership skills and developed a commitment to service. This passion for giving back carried over into her civilian life, where she volunteered with Send’em Off Smiling, a charitable organization that works with schools to provide backpacks for children in need. Gruber’s dedication to community service didn’t stop there. She also serves on the audit committee for the Waterloo Catholic District School Board, recognizing the need for volunteers with financial backgrounds to support local organizations.
“It’s important to me to give back,” she said. “I’m grateful for the opportunity to contribute in a way that has an impact on local families.”
Gruber’s professional journey began in the audit field at Deloitte, where she worked with several not-for-profit organizations and gained insights into their operations and financial management. In 2016, she brought this financial expertise and her desire to make a difference to Communitech, where she continues to support the tech community while staying close to her commitment to giving back.
“It was the energy at Communitech that drew me in,” she said. “There was this incredible passion and drive to support founders and help them grow. It felt like a perfect fit.”
As Chief Financial Officer at Communitech, Gruber played a key role in ensuring the financial stability of Communitech, especially during the challenges of the COVID-19 pandemic. She secured critical funding and worked closely with stakeholders to keep the organization on solid ground. Her ability to turn complex financial data into clear, actionable insights made her a trusted leader during uncertain times.
“There’s no question that having a financial background is an advantage in a crisis,” she said. “As CFO, I was in the room for many difficult decisions. Being able to understand the numbers allowed me to support the leadership team in making decisions that would stabilize the organization and keep us moving forward.”
Over the past eight years at Communitech, Gruber saw how resilience drives innovation, and created a three-year funding model that provided a strong foundation for the organization’s continued growth and strategic direction.
Gruber recently stepped in as interim CEO at Communitech, and her transition is part of a broader trend across North America: more CFOs are taking on the top leadership role. In 2022, CFOs were four times more likely to transition into the position of CEO or president than in 2021. These statistics continue to increase as board members prefer the experience and financial awareness CFOs bring to the table when implementing a change in leadership. In 2019, 21 per cent of CEOs had previously held the title of CFO, and by 2023, that figure had risen to 30 per cent. Many financial leaders make the transition within their organizations, using their board experience, internal knowledge and the trust they’ve built with their teams to successfully step into the role.
“Being a CFO is about understanding the bigger picture, building relationships and making strategic decisions that drive long-term growth,” she said. “I’ve spent years working alongside our leadership team, understanding how we operate, and collaborating with our partners. This has made the transition to interim CEO much smoother.”
Women in tech
In the tech industry, women make up less than 30 per cent of the workforce, despite representing 47 per cent of the overall Canadian workforce. This gap is further reflected in leadership roles. According to a 2021 report, women held only eight per cent of CFO positions in Canada’s top 100 public companies, a figure that has only slightly improved over the past six years.
A number of initiatives highlight the need for more targeted support for women in tech. Communitech Fierce Founders provides hands-on support, customized content and access to a network of other women and non-binary founders. On a broader scale, the Canadian government’s Venture Capital Catalyst Initiative (VCCI 2021) was designed to increase funding for high-potential innovative firms, with a focus on underrepresented groups, including women and racialized communities.
“It’s not about being a female leader, it’s about being a great leader,” she said. “We do need more women in leadership positions, not just to level the playing field, but to show the next generation of leaders that they can do this, too.”
Gruber is now part of a growing group of women breaking through these barriers and stepping into top roles within the tech sector. She joins leaders like Ruth Casselman, CEO of the Accelerator Centre, Sonya Shorey, CEO of Invest Ottawa, and Alison Nankivell, CEO of MaRS.
“I’m honoured to be a part of this group of amazing women,” said Gruber. “Throughout my time at Communitech, I’ve been surrounded by strong female mentors and I hope to make them proud moving forward.”
What’s next for Communitech
Gruber said her focus as interim CEO will remain firmly on Communitech’s mission: to help founders start, grow and succeed. Communitech’s refreshed three-year strategy, It takes an ecosystem, highlights the importance of building a stronger, more connected ecosystem that supports founders at every stage of their journey.
“We’re in a strong position at Communitech,” said Gruber. “We’re here to support founders and the tech community. I’m focused on making sure our team has everything they need to continue delivering for our founders.”
As a longstanding Communitecher with a deep connection to the region, Gruber wants the community to know she believes in the mission of supporting founders and the ecosystem.
“Now more than ever, it takes an ecosystem to support founders,” she said. “I’m looking forward to working with our founders, partners, team members and community to create something that will have a lasting impact on the future of innovation in Waterloo Region and beyond.”
