Mumbai-based venture fund and accelerator housed at BSE, Zone Startups has launched, Gateway91, a program to work with international startups and growth stage companies looking to access the Indian market.
Navdeep Bains, Minister of Innovation, Science and Economic Development, Government of Canada announced the creation of a new soft-landing programme for international companies looking to expand into India.
He further announced a partnership between the governments of Canada and Ontario to fund five Canadian financial technology startups to participate in the new programme to help Canadian innovators seize the opportunities provided by the Indian market.
Gateway 91 will offer end-to-end services for international technology companies looking to set up their first office in India. Zone Startups India will help companies make the transition to a new market by providing support including workspace within a community of like-minded entrepreneurs, local industry experts, mentors, professional and administrative services for business establishment, corporate connections for customer development, and networking opportunities with potential investors.
The first set of companies expected to be a part of Gateway91 will be selected through a competitive programme in Canada, and will be announced in early 2017.
Ajay Ramasubramaniam, Director, Zone Startups India said, “The ecosystem of mentors, potential partners and professional service providers needed by international startups to succeed in India is something that we have already built. In fact, over the last year, we have supported 16 companies from different areas, helping them with introductions to several potential partners and clients. To a great extent, this also aligns with Government of India’s Invest in India and Make in India vision as these international technology companies will create knowledge economy job opportunities.”
Ryerson Futures Inc. (RFI) is a for-profit entity connected to Ryerson University to assist early-stage technology companies as they grow and scale their businesses. RFI operates Corporate Accelerator programmes under the brand Zone Startups with several clients including GE, Barclays, Axis Bank, and Bombay Stock Exchange.
Gateway91 is the fourth programme announced by Zone Startups (a joint venture between Ryerson Future, Toronto, and the BSE Institute) in 2016, including empoWer, Rise Accelerator with Barclays and Thought Factory Accelerator with Axis Bank.