Mumbai : Aiming to help India turn ideas into enterprises, a new Indian-Canadian entrepreneurship incubator joint venture was inaugurated here Friday.
The accelerator facility, named BIL-Ryerson Digital Media Zone will help fast-track start-ups and connect with mentors, customers and investors.
The joint venture between Ryerson University, Toronto and Bombay Stock Exchange Institute Ltd. was inaugurated by visiting Canadian Governor General David Johnston.
Addressing the gathering, Johnston said that though India and Canada look like a study in contrasts, there are many things in common like shared traditions of parliamentary democracy, commitment to pluralism and strong people-to-people ties.
He said Canada was keen on increasing business links with India with focus on infrastructure, energy, food security, education, innovation and entrepreneurship.
Johnston also took part in the traditional ringing the bell to commence the start of the trading sessions at BSE at 9.15 a.m. Friday.
“Of course, stock trading is now very high-tech, but the stock exchanges reminds us of the importance of meeting in person, even in an era of instant communications,” Johnston said on seeing the stock indices appearing on computers screens.
Speaking on the occasion, Ryerson University president Sheldon Levy said the BIL Ryerson DMZ would offer expert guidance and mentoring to young entrepreneurs with ideas to refine their concepts, set up businesses and also connect with investors to secure venture capital.
Ryerson DMZ is one of the Canada’s largest incubators which has launched 142 projects since its inception in 2010. It had signed a MoU for the India-based incubator in July last year.
During his ongoing 10-day visit, the Canadian head of state has held high-level meetings in New Delhi. Saturday, he is slated to interact with business leaders in Mumbai while taking part in the Indo-Canadian Business Chambers’ annual convention.
The two nations have long-standing bilateral relations with over one million Indian origin persons, mostly from Punjab and Gujarat, living in Canada.
The trade between India-Canada, valued at US $5 billion in 2011-2012 is slate for substantial growth in coming years.
Canada is represented by a high commission in New Delhi, two consulates in Mumbai and Chandigarh besides a consulate office in Kolkata and trade offices in Chennai, Bangalore, Hyderabad and Ahmedabad.
India has a high commission in Ottawa and consulates in Toronto and Vancouver.
Present on the occasion this morning were Indian high commissioner to Canada, retired admiral Nirmal Verma and Canadian high commissioner to India Steve Beck.