L-SPARK, a new accelerator partnership between Invest Ottawa and Wesley Clover International, has been awarded funding from the Canada Accelerator and Incubator Program delivered by the National Research Council of Canada Industrial Research Assistance Program.
With the assistance of $3.8 Million in Government of Canada funding over five years, L-SPARK will provide entrepreneurs with the tools and support needed to evolve enterprise software ideas into new companies.
“It is an honor to share news that will help transform the Canadian startup landscape,” says Leo Lax, Managing Director, L-SPARK. “Momentum is building now towards our first Accelerator session, and I encourage entrepreneurs with a passion to create enterprise software products to reach out to us. We have the tools, the leadership and the business networks to help you realize your vision.”
In the next 30 days, six startups will be chosen to enter the L-SPARK Accelerator, where they will be mentored one-on-one by experts in the Enterprise Software space and be eligible to receive up to $360,000 in funding injections.
“L-SPARK is a world-class Incubator and Accelerator that will provide unparalleled mentorship to entrepreneurs and start-ups in the enterprise software sector,” says Bruce Lazenby, President and CEO, Invest Ottawa. “The region has a vibrant history of building world class companies. Today’s announcement will help create jobs. It will grow and strengthen an already strong ecosystem. And it will give entrepreneurs the resources they need, to turn their ideas into the next billion dollar business.”
“I am confident that the entrepreneurs and their teams who make it through the program will emerge ready to compete on an International level,” Terry Matthews, Chairman of Wesley Clover International, said. “L-SPARK is going to fuel opportunities, careers and positive experiences for many in the Canadian high-tech industry.”