Canada - India Governments Launch Bilateral Entrepreneurship Program
by Shrutee K/DNS
India and Canada Governments sign
bi-lateral market access agreement
Startups from both countries to work
closely with the support of both Governments
40 startups, with a major focus on woman
entrepreneurs, to be identified over
the next 2 years
Mumbai : Zone Startups, the global brand of
technology accelerators, operated by Toronto-based Ryerson Futures Inc., operates
multiple own-branded, and corporate accelerators in India and Canada. Zone
Startups flagship program in India, Zone Startups India is set up as a joint
venture with the BSE Institute and Simon Fraser University (Vancouver, Canada),
and partly funded by Department of Science and Technology, Government of India.
Zone Startups India has been at the forefront of operating niche
initiatives, empoWer – to accelerate startups founded by women entrepreneurs;
and the Next BIG Idea Contest, to provide soft-landing in Toronto and thereby
North American market access to Indian startups. Both these programs have had great success
stories, and have emerged to be proven platforms for enabling growth of early
stage startups.
On the back of empoWer and Next BIG Idea Contest, Zone Startups has
been chosen by the Canadian Government and Indian Government to establish a new
bi-lateral program to support entrepreneurs from both countries, through a
market access program. The program is jointly funded by respective ministries from
Canada and India, under the aegis of the Canada-India S&T Agreement.
Canada’s Minister of Innovation, Science and Economic Development
Navdeep Bains and Dr. Anita Gupta, Associate Head, NSTEDB,
DST
will make this special announcement about the new
program, on Tuesday 20th February, at Zone Startups India - which
will operate this initiative on behalf of both the Governments. Dr Anita Gupta, Scientist – G, Advisor, Associate
Head, NSTEDB, DST, Government of India says,
“DST, Govt of India are pleased to partner with Department of Innovation,
Science and Economic Development, Canada to accelerate innovation value chain
and technology commercialization through initiatives having special focus on
women entrepreneurs of both the countries. Such a bilateral engagement
facilitated by key stakeholders, govt, accelerators, incubators and companies
aim to lead ways for better economic and social development of both the
countries.”
Matt Saunders, President,
Zone Startups says, “We believe that the potential
of startups, in todays day and age, tends to be global markets. However, not
many have the opportunities and support required to launch their product and
services outside their home market. Through this program, we are hoping to open
newer markets for startups on both sides of the border in terms of new clients,
talent and capital access. With our strong footprint and network in Canada and
India, we are well positioned to help companies from both countries to grow in
a new market.”
To drive this initiative, the Canadian and Indian Governments have
jointly funded the program, to identify 20 startups annually over the next 2
years and support them with a market access program.
Ajay Ramasubramaniam,
Director (India), Zone Startups says, “At Zone
Startups, our focus at all times is to play the role of a catalyst, and enable
startups by way of providing validation, mentorship, corporate connects and investor
access. This program, with financial support from the Canadian and Indian
Governments is a testament to validation of our efforts in building Next BIG
Idea Contest and empoWer as niche, annual initiatives to support the ecosystem.
We are proud to be identified as the enabling bridge between the two countries,
to build a culture of entrepreneurs, and a network of startups.” Our endeavor
is to be able to identify hi-tech, hi-potential startups and provide them with
360 degrees support to help them grow their businesses, he adds.
Zone Startups India has been supporting women entrepreneurs over the
last two years through its initiative empoWer. Started in 2016, empoWer is
India’s first tech accelerator for women entrepreneurs and have accelerated 35
women led tech startups so far. It has a strong network of around 550 women
entrepreneurs across India.
Zone Startups India also recently completed 5-years of its annual Next
Big India Contest; wherein it identifies 5 hi tech Indian startups through a
competitive application process, and provides them with a market access trip to
Canada. In the past 5 years, 27 companies have benefited from this initiative,
and some notable names include CitrusPay, Konotor, Shield Square, Maya App,
AdSparx, Vidooly etc.
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