Toronto Business Development Centre, Brampton sign MoU with CorpGini to help Indian start-ups collaborate with Canadian corporates

Our Bureau Mumbai | Updated on January 07, 2020 Published on January 07, 2020

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India has the third-largest start-ups ecosystem in the world

Toronto Business Development Centre (TBDC) Canada, and the city of Brampton have signed a Memorandum of Understanding (MoU) with CorpGini to help Indian start-ups collaborate with Canadian corporates and expand their operations in Canada.

CorpGini is owned by Pantomath Group and Z Nation Lab that connects leading corporates to innovative start-ups.TBDC has been playing a key role in accelerating start-ups in Canada.

According to a press release, India has the third-largest start-ups ecosystem in the world, with approximately 50,000 start-ups, growing annually at the rate of 12-15 per cent.

The MoU was signed in the presence of Brampton’s Mayor Patrik Brown, who is on a week-long tour of India. Over the course of this tour, the Mayor will personally interact with at least 14 to 18 Indian start-ups, covering major start-up hubs of Mumbai, Bangalore and Delhi.

Mayor Brown said India and Canada have a lot in common including a positive trade relationship, Commonwealth history, a similar legal system.

He added that the presence of a massive South Asian diaspora in Canada makes the cultural conditions even more conducive to the establishment of Indian start-ups in Canada.

According to him, the only challenge for these countries is the geography, with the two countries being really far from each other. "However, the willingness to expand trade relations is the only way the geographical barrier could be dealt with," he said.

“Governments do no create good businesses, they only make the environment conducive for good businesses to flourish”, remarked the Mayor, while talking about Canada’s Startup Visa Program which is a program to attract dynamic entrepreneurs around the world into Canada, and give them the required funding and support to build businesses equipped enough to compete on a global scale and provide jobs to Canadians.

These startups will be given free spaces in Downtown to carry out business, and the Economic Development Department of Canada will offer all required assistance, said  Brown, when asked about how exactly will the start-ups be helped by the Canadian Government.

The Mayor said, this opportunity should be appropriately used by the start-ups  to launch their idea in the expansive North American market. With the increasing stringency in US policy towards granting Visas to foreigners, Canada was more than willing to take them in, in order to help them establish themselves in the North American Market. Brown said, “the message that Canada is trying to put across is exactly the opposite of that of the US’s”.

In a 30-minute long media interaction, the Mayor spoke in depth about the opportunities that these start-ups will receive in Canada. The innovation and technology start-ups would be the ones that would be given priority to, since they are the ‘jobs of the future’, he said. He also said that businesses in their nascent stages would be prioritized over established ones, since the latter do not really need much help.

On the execution of the memorandum, The Mayor remarked, “We are looking forward to this first of its kind Indo-Canadian collaboration with CorpGini. We are confident that with this mutually rewarding relationship the Canadian Corporates and Indian Start-ups would gain with this collaboration”.

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Published on January 07, 2020
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