India-Canada: A new pact giving way to a $19-trillion market for startups
India-Canada has signed an agreement to boost cross-border exchange of talent, technology and also to ease new startup market access from both of the nations. This programme sanctioned by both governments will be rolled out in India in partnership with private accelerator Zone Startups India (ZSI) and they will focus especially on women entrepreneurs.
Over the next two years, as part of the agreement both the governments will support, hone and help startups with high potential and to be qualified for this program Zone Startups India has analyzed 40 startups that can qualify.
Through this program, an undisclosed amount will be put down in Zone Startups India by both Indian and Canada government under India-Canada aegis and agreement from S&T to carry forward the same. This will ensure a 360 degree legal and operational support for all start-ups eligible for this programme.
“We will be looking out for startups in the B2B and enterprise sectors which are at an early stage and are ready for an international launch,” said Ajay Ramasubramaniam, director, Zone Startups India. “The startups should have already built significant traction in their local markets and have a product which has the market fit for the international clients.”
Those Startups selected by this program will be trained to build an important scale and also engage with the larger array of Investors and Corporates and moreover startups will be able to gain access to the Canadian market which has offered to help them access North American startup market of $19 trillion.
“Canadian startups who are looking at India as a strategic market, will be put through a boot camp, to show them the ropes of doing business in India, approvals required and to know the business environment here,” Matt Saunders, president at Zone Startups, said. “Our end goal is that startups setting up their business in both these markets should also hire local talent and generate jobs in both the countries.”