CAIP funds Ottawa area software incubator

Ottawa and Eastern Ontario start-ups in the enterprise software space will have access to accelerator funding and services through L-SPARK, which will receive $3.8 million from the federal Canada Accelerator and Incubator Program (CAIP). The funding must be matched on a 1:1 basis and will flow through Invest Ottawa, which manages the funds on behalf of partner organizations Wesley Clover International and PARTEQ Innovations. Total investment in L-SPARK is $24 million. In the coming weeks, six start-ups will be selected for the incubator program and are eligible to receive up to $360,000 in funding, and business mentoring. Wesley Clover has expertise in seed, early-stage and follow-on financing. PARTEQ is the technology transfer arm of Queen's Univ. Invest Ottawa is one of 15 recipients of CAIP funding across Canada (R$, June 26/14)....