Ready to Raise Round A? Look to L-SPARK’s Unique Approach
Ottawa-based Accelerator and Incubator Combines a Laser Focus on Enterprise Software with a Community of Executive Mentors and Corporate Partners to Help Entrepreneurs Bring Disruptive Ideas to the World
January 27, 2015 (Ottawa) – Today L-SPARK, the first Canadian Incubator and Accelerator focused exclusively on enterprise cloud and SaaS (Software as a Service), is accepting applications to its first incubator session. Ottawa-based L-SPARK is designed to provide entrepreneurs in Canada and elsewhere the support they need to attract Series A investment.
Its unique approach to accomplishing this goal rests on its highly experienced and well-networked community of corporate partners and mentors, combined with an approach that provides very high-touch, hands-on guidance to the startups in its program. Startups will lean on the experience and guidance from seasoned entrepreneurs like Harley Finkelstein of Ottawa based e-commerce company Shopify, recently valued at $1-billlion, and Welsh-Canadian Serial Tech Entrepreneur, Terry Matthews and his team at Wesley Clover International. L-SPARK is committed to working with only the best and brightest startups in Ottawa and beyond, and knows that Canada is fertile ground for smart entrepreneurs and great ideas.
“It’s time that the technology talent and innovation in Canada is properly fostered to compete among leading start-ups and enterprise solutions around the world,” said Leo Lax, founder of L-SPARK. “L-SPARK is excited to reach its next phase, and to focus on providing meaningful mentorship from leading Canadian entrepreneurs and access to resources our start-ups need to redefine their market.”
L-SPARK’s Incubator Session 1, backed by selected venture capital firms, is accepting applications now through February 27, 2015. L-SPARK and L-SPARK mentors will meet on March 24, 2015 for a Pitchfest, where up to eight finalists will be selected to participate in the Incubator program. These participants will pitch to selected angels and venture capital groups for a possible seed round of funding on month two, three and four during “Demo Days.”
“Through L-SPARK, we’ve had the opportunity to meet face-to-face with the biggest names in technology, including Google, Microsoft and OpenText,” said Steve Cody, founder of The Better Software Company, and participant in L-SPARK’s Accelerator program, a parallel program for slightly more advance startups, which was launched last December. “This level of exposure to strategic partners and venture capitalists have helped to shape our entry to the market and identify opportunities for expansion.”
“Canada is rich in talent, and we want to share with the rest of the tech community the robust ecosystem already in place for eager entrepreneurs,” said Laurie Davis, L-SPARK mentor and founder of the Capital Angel Network. “I’ve experienced first-hand the importance of learning from the trials and successes of other startups, and through L-SPARK’s intense mentor program I knew I’d have the chance to work closely with motivated entrepreneurs, and offer my experience in a meaningful way to foster their growth.”
“The frequent meetings with partners and mentors has transformed our approach to sales and refined the messages that reach potential customers,” said Steve McNally, founder of Frontlines and participant in L-SPARK’s Accelerator program. “My mentor has been fully invested in the success of Frontlines, meeting at least twice a week, and providing counsel on everything from sales and messaging to pitching investors.”
Entrepreneurs with an industry-defining idea, relevant experience, tested proof of concept, pre-trial software application and some pre-revenue traction are encouraged to apply at the L-SPARK Website.
L-SPARK is an Ottawa-based Incubator and Accelerator with a laser focus on the Enterprise Software market. By providing entrepreneurs and startups with access to industry mentors, sector-focused venture capital firms and angel investors, the objective of L-SPARK is to create a deal flow of fundable enterprise startup companies and support an enterprise-focused startup ecosystem in the region. L-SPARK will arm innovative entrepreneurs with the tools and support to be more agile, more competitive and more profitable. L-SPARK seeks innovators who can create software that keeps up with and accelerates the rapid growth of their customers, leads the rapidly evolving technological landscape, and redefines the enterprise landscape. L-SPARK is supported by Wesley Clover International and Invest Ottawa. Visit us at www.l-spark.com, connect with us on linkedin.com/l-spark or follow us on Twitter @LSPARKGlobal.