By Neha Chollangi
Ryerson has a new program to help Canadian startup companies expand into India. Called Gateway91, the program is run by Ryerson-affiliated Zone Startups India (ZSI).
On Nov. 10, federal Minister of Innovation, Science and Economic Development, Navdeep Bains, announced the program’s partnership with the federal and provincial governments will allow five Canadian financial technology startups to get funding and participate in Gateway91.
Financial technology (FinTech) companies work to improve the use of technology in financial services. FinTech startups today focus on the sectors of banking, insurance and retail.
The Gateway91 program aims to enable FinTech startup companies to spread new ideas to the Indian market. This expansion is to create more jobs and economic growth in Canada and India.
Gateway91’s partnership with the federal and provincial governments, Ryerson University and ZSI gives the startup companies involved access to services that can help them succeed.
The DMZ at Ryerson University is also a major partner involved in the project. As a starting point for many entrepreneurs, the DMZ can produce companies that can participate in Gateway91. The connections available through DMZ will also assist startups to emerge internationally.
Executive director of the DMZ, Abdullah Snobar, said Zone Startups India is based on the DMZ’s model.
Snobar said Gateway91 “signals a new opportunity for Canadian entrepreneurs to expand to India, and introduce their innovations and creative solutions into a new market.”
To date, the DMZ says it has helped 263 startups companies and created 2,500 jobs.
ZSI will offer services including mentors to helps company set up in India, introducing companies to potential investors and networking opportunities and providing professional services to help establish new businesses.