Royal Galipeau, Member of Parliament (Ottawa-Orléans), accompanied by the Honourable Ed Holder, Minister of State (Science and Technology), today announced the Government of Canada’s investment in Invest Ottawa, in collaboration with Wesley Clover and PARTEQ Innovations, to support Ottawa and Eastern Ontario’s innovative businesses, enabling them to grow, prosper and create jobs.
Through the Canada Accelerator and Incubator Program (CAIP), Invest Ottawa and collaborators Wesley Clover, PARTEQ Innovations will receive up to $7.7 million in funding over the next five years to provide local entrepreneurs with the resources and expertise needed to develop their business plan, seek follow-on financing, and establish new international markets for products and services. These organizations plays an important role in preparing early stage companies for successfully accessing investment capital and serves as an invaluable resource for entrepreneurs in developing competitive products and services, which support creating Canadian jobs at home.
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“Business accelerators and incubators are critical players in a strong venture capital system in Canada. Our government is supporting these organizations to provide advice, expertise and strategic direction to high-growth Canadian businesses who will create jobs, economic growth and opportunities in Ottawa, Eastern Ontario and across Canada.”
Ed Holder, Minister of State (Science and Technology)
“The government’s top priority is the economy and jobs for Canadians. Through the Canada Accelerator and Incubator Program, Ottawa’s entrepreneurs will have the tools needed to support innovative, competitive start-up businesses while creating high-quality jobs in our city.”
Royal Galipeau, Member of Parliament (Ottawa-Orléans)
“Together Ottawa and Eastern Ontario are a leading technology hub with a well-established and vibrant startup community. Building a successful startup requires a collaborative ecosystem that you can tap into. We are excited today on continuing to build this ecosystem, which includes the thriving talent pool from local academic institutions, private partners and our extensive network of experienced mentors.”
Bruce Lazenby President and CEO, Invest Ottawa
“I am pleased to be supporting L-SPARK as they begin aligning talented entrepreneurs with the industry leaders and strategic partners they need to realize growth and success in the enterprise software sector. I am confident that the entrepreneurs and their teams who make it through the program will emerge ready to compete on an International level. L-SPARK is going to fuel opportunities, careers and positive experiences for many in the Canadian high-tech industry.”
Sir Terry Matthews, Wesley Clover
“We are delighted to be working with regional partners, Invest Ottawa and Wesley Clover, and local partner Launch Lab, to deliver an integrated Eastern Ontario Business Accelerator. By combining and leveraging the strengths of the partners, this collaboration will expand programs and services available to high potential startups and SMEs in the region.”
Dr. Steven Liss, Vice-Principal (Research) at Queen’s University
“Through the varying stages of growth that InitLive has experienced, support from high touch mentorship has been invaluable. L-SPARK’s model of pairing entrepreneurs with practised mentors will infuse start-ups with unparalleled knowledge of the enterprise software sector. I am eager to follow L-SPARK and their team of mentors as they guide companies through growth towards the global stage.”
Debbie Pinard, CEO, InitLive
“Solink has rapidly accelerated to a global scale not without the strategic support of our corporate partners. Having strategic partners and gaining access to their customers is a key element in the progression of any start-up. The members of our community that have come together to champion L-SPARK’s entrepreneurs will be instrumental in bringing their products to market.”
Michael Matta, CEO, Solink
Director of Communications and Parliamentary Affairs
Office of the Honourable Ed Holder
Minister of State (Science and Technology)