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Canada To Help India Turn Ideas Into Enterprises

Monday, March 03, 2014
By Dominic Rebello

Governor-General David Johnston Inaugurates Accelerator Facility At BSE

“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. Canada is keen on increasing business linkages with India, with particular focus on infrastructure, energy, food security, education, innovation and entrepreneurship, “ said  Governor General of Canada David Johnston last Friday at the inauguration of BIL-RYERSON DMZ INDIA, the entrepreneurship incubator in Mumbai, set up as joint venture between the Ryerson University, Toronto and the Bombay Stock Exchange Institute Ltd.  The new facility will help fast track start-ups and connect with mentors, customers and investors.

“BIL Ryerson DMZ will offer expert guidance and mentoring to young entrepreneurs with ideas to refine their concepts, set up businesses and also connect them with investors for securing capital” said Sheldon Levy, President of Ryerson University. Ryerson’s Digital Media Zone is one of Canada’s largest incubators, that has so launched 142 projects, since its inception in 2010. The MoU for the India based incubator was signed in July 2013.

David Johnston, Governor General of Canada, also participated with great delight, in ringing of the bell to announce start of trading at the Bombay Stock Exchange at 9.15 a.m.  Upon seeing the stock indices appearing on computer screens, Johnston remarked “of course, stock trading is now very high tech, but the stock exchanges remind us of the importance of meeting in person, even in an era of instant communications.”

During his 10 day visit to India, covering Delhi, Bangalore and Mumbai, the Canadian Head of State has focused on education, innovation and entrepreneurship. He has also held high level meetings with business leaders in New Delhi, and will interact with business leaders in Mumbai on Saturday, when he participates in the Indo-Canadian Business Chamber’s annual convention.

Canada and India have long standing bilateral relations. With more than one million people of Indian origin in Canada, most of them from Punjab and Gujarat, the two countries also have strong inter-personal connections. The trade between India and Canada, valued at approximately US $ 5 billion in 2011-12 is set to grow substantially in the years to come.

In India, Canada is represented by a High Commission in New Delhi and two Consulates General in Mumbai and Chandigarh. Besides a Consulate office in Kolkata, it has trade offices located in Chennai, Bangalore, Hyderabad and Ahmedabad.

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