Ottawa-based L-Spark Accelerator, has opened applications for its sixth cohort. Through participation in the accelerator, L-Spark aims to scale Canadian companies into globally competitive firms by nurturing rapid month-over-month growth.
“We are looking to work directly with SaaS companies who have a high potential to scale.”
L-Spark’s Accelerator offers a chance for enterprise SaaS and cloud startups to connect with industry experts and grow their revenues. Overall, the L-Spark accelerator aims to help companies increase revenue, build their team, find product-market fit, create sales channels, navigate government funding, and build investment pitches.
“We are pleased to be on the hunt again for Canada’s best B2B SaaS companies,” said Leo Lax, executive managing director of L-Spark. “With 47 companies now in our portfolio, and a pool of experienced mentors to draw from, we are looking to work directly with SaaS companies who have a high potential to scale.”
The accelerator’s participants will go through an intensive six-month program, receive tactical and strategic support, relevant workshops, and advise from L-Spark’s experienced team. Applications are now open and will close Wednesday, August 21, and L-Spark said it is looking for companies with high scale-up potential.
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The accelerator said it will also invite founders to participate in a “bootcamp-style activity” in which participants pitch for a seat in the accelerator. Between six and eight companies are usually chosen for each cohort. L-Spark will also host office hours in Toronto, Montreal, Kitchener-Waterloo, and Ottawa throughout the summer to consult with B2B SaaS companies.
“This program is not a cookie cutter, one-size-fits-all program,” Lax said. “We are working closely with companies to create a custom and agile action plan, with a strong focus on thinking big and exceeding expectations so that the founders can attract investment to scale.”
Since the launch of the first cohort in January 2015, L-Spark said it has assisted 47 companies in raising a collective total of $32 million. It has over 20,000 SaaS investors, corporate partners, and startups now in its network.
Earlier this year, it partnered with Telus, BlackBerry, and Solace to launch the Secure IoT Accelerator program. The program aims to support Canadian IoT ventures by offering them global reach capabilities and secure technologies. Last September, L-Spark also launched a joint accelerator solely with Blackberry QNX.
Image courtesy L-Spark via Facebook