Briefing

L-Spark, BlackBerry, Telus, Solace launch accelerator to support Canadian IoT ventures

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Companies in the accelerator will be able to use Telus and Blackberry technology to build Internet of Things (IoT) products. This is BlackBerry’s second accelerator with Ottawa-based L-Spark. (BetaKit)

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Talking point: With the global IoT market expected to hit US$1.4 billion by 2021, according to the International Data Corporation, it makes sense for corporations like BlackBerry and Telus to invest in a hub where they can preview emerging technologies from the next generation of companies. It’s akin to corporations using venture capital investment in startups to work better with them or eventually acquire the technology; PwC Canada and CB Insights’ past four reports on Canadian VC activity show corporate VC participation increased every quarter in 2018 as they sought to work more with startups.