L-SPARK’s fee is performance-based. If the company raises money during the 6-month program or in the following 12-month period, L-SPARK receives a 3% equity stake in the company. If the company does not raise funding in that 18-month window (6-month program + 12 months afterwards), there is no fee for the L-SPARK Accelerator Program.

We’re always on the hunt for companies that excel in three categories: people, product and market. We work with founders of B2B and B2B2C SaaS companies who:

• Are ready to scale up with the help of investment
• Have a SaaS product or want to transition from services to SaaS 
• Have deep domain expertise but lack experience in scaling a software company
• Are passionate about building a software product that will change the way our world operates

Typically, we look for the following attributes: strong and versatile founding team members, a market-ready and viable B2B SaaS product with proven market need, traction, a strong reason for seeking entry into the Accelerator, IP ownership, and a determined drive to meet aggressive goals.

Most Canadian startups struggle to attract risk capital to fuel growth. Founders turn to L-SPARK to help navigate the fundraising process and position their companies to attract, secure and deploy investment to propel them to become a global player.

Companies want to participate in our B2B SaaS Accelerator program because of its focus on SaaS and its emphasis on revenue generation. We have seen that our focus helps founders navigate the unique challenges of scaling and growing a B2B SaaS startup. In particular, our delivery of SaaS-specific content aids founders in understanding how to become investor-ready, reach important metrics and measure growth accurately by outlining accurate KPIs.

We have pulled together a strong group of experienced mentors and advisors who have thrived as software CEOs, sales experts and marketing advisors. They also help founders validate momentum so they can attract institutional investment in order to build globally competitive companies.

Founders have access to:

• A C-level mentor with startup and enterprise software experience for 1 day per week
• Introductions to potential channel partners, clients and investors
• Business development and go-to-market strategy support (access to sales and marketing advisors)
• B2B SaaS workshops, practice pitch opportunities and other programming
• Discounted rates for infrastructure and software services
• Assistance with government grants and programs like IRAP, OCE, NSERC

We also organize multiple Investor Days throughout the program, starting with a Selection Committee, in addition to holding investor days in Toronto during March and June. If selected, you will also have the opportunity to participate in SAAS NORTH, Canada’s largest SaaS conference.

The L-SPARK team will work with you to pair a mentor to your company based on the needs of the startup and the mentor’s skills and experience.

Today, L-SPARK does not have a fund so we do not invest in the company. In exchange for the six months of intensive services, L-SPARK takes a 3% equity in your company upon selection and your agreement to participate.

We expect participating startups to be fully engaged in workshops, programming and pitch sessions. The program is intensive so consistent participation in weekly operational review meetings is key to keep track of and meet milestones.

More than this, being present at L-SPARK events, networking with peers, and accessing advisors who can compliment the guidance offered by your mentor. It’s how you’ll get the most out of our program.

Once your application is received, a member of the L-SPARK business development team will be in touch to learn a bit more about your company and team.

If your startup is shortlisted for the L-SPARK SaaS Accelerator, you will be invited to participate in our pre-program bootcamp. A mentor will be assigned to work with you to help refine the content of your slide deck, and you’ll receive pitch coaching. You will also undergo a legal and financial review.

The boot camp culminates at Selection Day, where founders present to a selection committee of 25+ Investors. The committee is responsible for recommending the companies that will be accepted to participate in the program.

The L-SPARK team checks in with alumni to learn of any developments or news with each company. You will still have access to many of the support systems that you had when you were in the program. We want each alumnus to remain a member of the L-SPARK family, so we host alumni events and will continue to provide invites to closed events on an ad hoc basis.