Indian Institute of Technology (IIT) Kanpur has collaborated with Toronto Business Development Centre (TBDC) to provide a global recognition to the Indian Startups.
The technology business incubator at IIT Kanpur, the Foundation for Innovation & Research in Science & Technology (FIRST), also known by the brand name, SIIC IIT Kanpur has officially signed a Memorandum of Understanding (MoU) with the Toronto Business Development Centre (TBDC), Canada.
The main aim of the MoU signed between TBDC and FIRST, IIT Kanpur is to provide the business advisory, investor and industry connections to Indian startups that qualify under the Startup Visa and Soft-Landing programme of TBDC. Also, the shortlisted startups will get an opportunity to relocate to Canada.
Furthermore, the enterprises will establish a joint cross-mentorship programme as a collaborative venture for startups from both Canada and India. It can be expected that the collaboration will bring great changes to the existing startup ecosystem in both countries.
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Moreover, the TBDC and FIRST will provide a significant opportunity for incubation to the selected startups for a six months duration.
Prof Abhay Karandikar, Director, IIT Kanpur said that the institute had earlier collaborated with the Singapore India Chamber of Commerce and expressed his happiness, saying that with the establishment of the association with TBDC, IIT Kanpur is moving ahead and expanding the institute's footprints in the global entrepreneurial ecosystem.
He added that IIT Kanpur's FIRST has been emerging as a pioneer in nurturing and developing startups through their journey.
A three-month cross mentorship programme will be introduced by the IIT Kanpur’s FIRST and TBDC to mentor and assist the Indian startups on Go-To-Market strategy by Canadian mentors and vice-versa.
Further, the TBDC and FIRST will organise a startup connect meet to learn and implement best practices and processes adopted by the start-ups from both countries.
For the cross mentorship programme, the TBDC will select the startups by conducting a screening and interview process. After which, these startups will have access to various services offered by TBDC including networking events, one-on-one mentor sessions, investors network, and infrastructure to conduct programmes.
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