Reliance Industries-backed startup programme, Gen Next Hub, has partnered with Invest Ottawa, the economic development agency for the city of Ottawa, to provide Ottawa-based companies an opportunity to expand into India and offer Indian startups a springboard into the North American market, reported ET.
The partnership and collaboration was captured and signified through a memorandum of understanding (MoU), which includes co-branding, events invitation and information sharing between the two entities.
GenNext Ventures along with Microsoft Ventures runs GenNext Innovation Hub, an incubator for startups, in Navi Mumbai.
Invest Ottawa will scout, evaluate and nominate selected startups from Canada for
Proof of Concept (PoC) focussed programs with the Reliance Business Units across selected themes (Logistics, Security, Network); to participate in the GenNext Hub Startup Accelerator Program; connect with ecosystem partners in Canada and USA. This could include incubators/accelerators, academia, corporates, investor community, industry bodies, mentors, thought leaders, and subject matter experts, etc.; facilitate a startup exchange program taking the GIH startups to Canada; startups selected by the Invest Ottawa with products/services relevant for the North American markets; provide networking and logistical support for the startups; enable travel for GenNext Hub startups and team members to Canada for developing in-roads into the Canadian ecosystem.
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