L-Spark’s leader believes the Kanata-based tech startup accelerator’s new partnership with Mitel will trigger a wave of collaborations with other Canadian corporations that want to work with emerging companies to bring innovative products to market. Mitel, which is also headquartered in the west-end tech hub, announced in late April it was joining forces with L-Spark […]
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L-Spark’s leader believes the Kanata-based tech startup accelerator’s new partnership with Mitel will trigger a wave of collaborations with other Canadian corporations that want to work with emerging companies to bring innovative products to market.
Mitel, which is also headquartered in the west-end tech hub, announced in late April it was joining forces with L-Spark to help up-and-coming tech companies brainstorm applications that can be integrated into the unified communications giant’s products.
The new unified communications accelerator program is a bit of a departure for L-Spark, which over the past 12 years has mentored more than 130 startups that have collectively raised in excess of $200 million in follow-on funding.
The organization has traditionally accepted software companies from a wide range of verticals into its programs, pairing founders with experienced tech executives who provide advice on everything from product development to go-to-market strategies.
But L-Spark executive managing director Leo Lax says the collaboration with Mitel marks a fundamental shift in the organization’s trajectory.
Rather than casting a wide net when searching for the next software-as-a-service stars, L-Spark has decided to narrow its focus to companies in specific verticals, he explains.
The organization is hoping to partner with two corporations a year to help its portfolio companies create new products and services for leading Canadian firms.
“We are very encouraged by the amount of response we are getting from the market,” Lax says, adding the program “will prove to the world … that this is really … the best way to help our innovation ecosystem become global and be able to grow and become a major player in the market.”
Funded largely by Terry Matthews’ Wesley Clover investment firm, L-Spark has eight full-time employees as well as a network of about 40 serial entrepreneurs, established CEOs and other experienced tech leaders who advise startups on a contract-by-contract basis.
The Mitel partnership is not an entirely new way of doing business for L-Spark. The organization has worked with other well-known tech and telecom firms in the past, including BlackBerry, Telus and Solace, to help startups commercialize products in fields such as medical and automotive tech.
But until now, the SaaS accelerator has been the organization’s signature program, graduating distinguished alumni like network troubleshooting software maker Martello Technologies and online bug detection platform Noibu.