A combination of visa, market access and funding could help start-up accelerator Toronto Business Development Centre to support 300 Indian entrepreneurs in setting up their base in Canada by 2025.
The Start-Up Visa Program of TBDC offers permanent residency in Canada to entrepreneurs and provides a soft-landing spot for the North American market.
“TBDC has helped over 200 start-ups secure entry into Canada’s business landscape in areas such as artificial intelligence, healthcare, hospitality and vendor communication. Through the Start-Up Visa Program, TBDC is giving entrepreneurs access to its clients and resources, 100- plus mentor networks, VC and PE funds in Ontario, and, last but not least, prime office space in the heart of Toronto along with perks worth $15,000,” said TBDC chairman, Vikram Khurana.
“With TBDC’s help, Indian company Doormonk was incorporated as a start-up in Canada in 2018 and closed a $100,000 seed funding round in May 2019. Currently, they are bootstrapped, profitable and aiming for US $2 million in revenue.”
“Vas-Tum is another great example. Founded by Pavneet Singh, Vas-Tum has been scaling exponentially in the North American market. They make affordable and functional building materials from recycled plastic that have been diverted from incineration or landfills,” Khurana said.
Ontario’s ministry of labour, immigration training and skills development has selected TBDC to administer the Entrepreneur Success Initiative (ESI) under the Entrepreneur Stream of the Ontario Immigrant Nominee Program (OINP).
“Canada welcomes about 4,00,000 immigrants each year — and that will grow to over 500,000 next year. Proximity to the US market is one of the reasons people chose Canada. The nearshore model allows an entrepreneur to operate from Toronto and do business in New York,” he said.
“TBDC has partnered and networked with over 200 best-in-class companies including Nasscom and Startup India, to attract and help Indian start-ups to scale and expand reach in the North American market,” Khurana said TBDC has also partnered Start-up Accelerator and FIRST — the incubator at IIT Kanpur.
