Five Indian tech startups will get the opportunity of leveraging their presence in Ontario’s ( Canada) startup ecosystem as a part of 3rd edition of the Next Big Idea Contest jointly hosted by the Government of Ontario, Canada and Zone Startups India, the Bombay Stock Exchange Institute and Amazon Web Services.
The Next Big Idea Contest, which announced in July 2015, chose 5 technology startups among the 308 applicants who applied for the same. The five winners are Bangalore based Lightmetrics Technologies Private Limited and Packal; Delhi based Neuron and Swift File Transfer, and Thane based Survelytics who will get a soft landing to expand to North America.
The entrepreneurs will receive a two-week mentorship, business development advice and valuable international experience at the Ryerson University’s, the Digital Media Zone (DMZ). The DMZ is ranked first in Canada and fifth in the world by University Business Incubator Index.
Jens Michael Schaal, Counsellor (Commercial – Ontario), Ontario International – New Delhi Trade & Investment Office stated, “ This contest is an opportunity for Indian start-ups to experience the North American market first hand and develop valuable new connections.”
The winners were selected based on three criterion – whether the business pitch has the potential to go global, whether the contestant already has a footprint in North America, and lastly if the pitch sported an intellectual property with potential to go global.
In 2013, 23 applicants applied for the contest, rising to 227 in 2014 and now 308 in 2015. Citrus was the winner in 2013, followed by five in 2014 which included Flip Technologies and AdSparx.