L-SPARK seeking SaaS, IoT, and cloud startups for fifth accelerator cohort

Ottawa-based SaaS accelerator L-SPARK has opened applications for its fifth cohort.

L-SPARK’s accelerator program provides SaaS and cloud startups with an opportunity to connect with experts, accelerate their revenue, build their team, perfect product-market fit, establish sales channels, and receive advice on pitching and funding through an intensive program. Selected companies also receive strategic support and attend workshops led by L-SPARK’s team.

L-SPARK said this year, the program is also accepting applications from IoT, cyber, and deep tech companies, and applications will be accepted on a rolling basis so that companies can apply, move through the selection process, and be accepted into the program within a reasonable time.

Up to six startups will be selected for the program, and L-SPARK is looking for entrepreneurs with a commercial product and at least $10,000 to $30,000 in monthly recurring revenue.

“We’ve closed a $7.4 million Series A. We’ve grown our company three-fold and we’re close to 60 people right now,” said John Laslavic, CEO of Upchain and an L-SPARK alumni. “We’ve also just closed our largest contract to date. One of the things that has helped us get here are the connections we’ve made and work we’ve done at L-SPARK.”

Since its launch in January 2015, L-SPARK has accelerated 36 SaaS companies and helped them raise a collective total of $26 million. In 2016, L-SPARK transitioned to operate exclusively as an accelerator with the collective goal to help SaaS companies generate 10x revenue growth.

Those interesting in participating in L-SPARK’s program can apply here.

Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer at BetaKit. As a fourth-year journalism student who has written primarily about entrepreneurship, Amira has developed a growing interest in Canadian startup, business, and tech news. In her free time, Amira enjoys reading, baking and watching legal shows.