Incubator no more: L-Spark opens applications to early-stage accelerator

Two years after its launch, L-Spark is dropping the incubator label. The Kanata-based company has shifted the branding of its two flagship programs: what were once the four-month incubator and nine-month accelerator cohorts are now early stage and late-stage accelerators of the same length.

In a blog post announcing the change, Wesley Clover-backed L-Spark says that the changes are in name only – the two programs will retain the same approach with the same goals of 10x revenue growth.

The formerly-incubator program is still for startups looking to establish their foundations and develop their product market fit, and the late-stage accelerator is still for more established companies ready for more aggressive scaling.

OBJ360 (Sponsored)
YMCA

Giving Guide: YMCA

What we do The YMCA of the National Capital Region is a charitable association dedicated to igniting the potential in people, helping them grow, lead, and give back to their

Read More

In an email to Techopia, L-Spark executive director Leo Lax explained that the term “incubator” does not accurately describe L-Spark’s program. Incubator programs are often focused around idea formation and proof of concept, while L-Spark works with companies who already have a product and early traction.

“As we’ve grown we have recognized that our approach has been different. You see we are not a cookie cutter program – our high intensity engagement requires a concentrated effort on SaaS revenue generation and month over month growth,” writes the piece announcing the changes.

Get our email newsletters

Get up-to-date news about the companies, people and issues that impact businesses in Ottawa and beyond.

By signing up you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.

Sponsored

Sponsored

EVENT ALERT: Mayor's Breakfast with Ontario Finance Minister on Wednesday, Dec. 4 @ City Hall