Hyderabad-based startup engine T-Hub and Communitech, a Canada based public-private innovation hub, today announced the call-for-applications for their Global Bridge program. The program will provide entrepreneurs, startups, and scale-ups from Canada, a gateway to the Indian market.
T-Hub and Communitech signed a Memorandum of Understanding during the Canadian Prime Minister Justin Trudeauâ€™s visit to India earlier this year.
As a gateway to the Indian market, T-Hub is inviting applications from Canadian startups and scale-ups to extend its expertise in scaling their operations in India. Founded by Communitech, Canadian Digital Media Network (CDMN) will enable its connect to the national network of 26 regional innovation organizations across Canada for the Global Bridge program.
T-Hub is focused on startups in clean technologies, sustainable infrastructure, healthcare, biotechnology, B2B (business-to-business) enterprise solutions, and SaaS (software-as-a-service). Through mentorship, T-Hub will enable Canadian entrepreneurs to offer high-quality solutions to Indian consumers and supercharge innovation, while bolstering trade relations and knowledge-transfer between both countries.
He added, â€śthe Global Bridge program is a shining example of how key ecosystems that have great IP and an exploding market can come together. This is an opportunity for India and Canada to strengthen their partnerships and facilitate innovations that solve real problems. Canadian startups will benefit from the vast market, while India will receive technology solutions in critical areas such as sustainability and healthcare,â€ť said Jay Krishnan, CEO, T-Hub.
Selected companies will receive two and a half months of virtual coaching and access to resources, followed by three weeks in market. While in India, company representatives will participate in formal programming in Hyderabad, and can network and travel for sales meetings around the country. Companies will receive up to $4,000 CAD to help offset travel and accommodation costs to be reimbursed by CDMN.
Through this program companies will receive support in product localization, business model validation for the Indian market and understanding the local business culture, a dedicated mentor and Entrepreneur-in-Residence, who will provide support throughout the program and access to corporate partners, industry leaders, government engagement, demo days, media activities, and networking events on a continuous basis. The applications for Canadian companies are now open and will close August 15, 2018.
Our government recognizes that fast-tracking innovation in a globally connected world is about establishing new gateways and partnerships that will accelerate ideas, innovate, and compete in global markets. Co-innovation and growing a stronger ecosystem that unlocks new talent will enhance global opportunities between Canada and India and create good middle-class jobs,â€ť said the Honourable Bardish Chagger, Leader of the Government in the House of Commons and Minister of Small Business and Tourism.
The eligibility criteria to enter the program includes being a Canadian tech company (established startup or scale-up) working on a solution clean technologies and sustainable infrastructure; Health and biotechnology and a B2B enterprise solution where the company has launched a product and is generating revenue. The startups need to have a validated and proven business and distribution model that can be translated to the Indian market and should have the willingness to invest time and resources to enter the Indian market.
â€śIndia offers an immense opportunity as a market for Canadian companies looking to expand globally. To be able to access this market while having the support of an organization like T-Hub and a program like Global Bridge is a huge asset. Being accepted into this program offered by Communitech, the Canadian Digital Media Network and Indiaâ€™s T-Hub will result in a much more successful entry into India for Canadian tech companies,â€ť said Lisa Cashmore, Communitechâ€™s Director of International Strategy.