Monday, February 26, 2018
Communitech Forms Indo-Canada Innovation Bridge with India’s T-Hub
Communitech has signed a memorandum of understanding with T-Hub of India today, announcing the intent to partner in support of global commercialization of each other’s technology companies.
The memorandum of understanding was signed during a ceremony in Mumbai, India by Lisa Cashmore, Communitech’s Director of International Strategy and Jay Krishnan, T-Hub CEO in the presence of the Bardish Chagger, Leader of the Government in the Canadian House of Commons and Minister of Small Business and Tourism.
The partnership forms an Indo-Canada Innovation Bridge anchored by Communitech, an industry-led innovation center that supports, fosters and celebrates a community of more than 1400 tech companies in Waterloo Region, Canada and T-Hub, India’s largest startup incubator.
Communitech and T-Hub will share office space, programming and mentorship as well as create a program where companies of both countries will join to resolve corporate innovation challenges. The partnership presents three goals:
• A co-innovation program with joint development between Canadian and Indian innovators and entrepreneurs,
• Market access for Communitech entrepreneurs through T-Hub’s India Market Access Program based on product-market fit, and
• Indian and Canadian startups and researchers working together on solutions to innovation challenges corporate businesses face in both countries.
“Our government is committed to making Canada a world leader in innovation. In order to truly achieve this objective, we also understand that in a globally connected world, we need to partner with like-minded countries, like India, to build strong connections and help our entrepreneurs create world-class companies,” said Minister Chagger.
“These partnerships also help to encourage investment and forward thinking, giving our best and brightest a stage on which they can shine. Today’s agreement between Communitech and T-Hub will help to enable this important work. I congratulate both organizations on this agreement, and wish them, and the many great companies they will work with, the best of success for many years to come.” “Forming a partnership to support Canadian and Indian innovation in tech companies is a huge opportunity. India is in the top five most requested markets through the Canadian Digital Media Network (CDMN) Soft
Landing program, so we know it is a market that is of interest and importance to the companies we work with,” said Cashmore. “This partnership will help Canadian startups and technology firms have direct access to Indian markets and support on the ground.” “T-Hub and Communitech share a common philosophy to make our corresponding ecosystems vibrant, technology-driven, and also driven by international aspirations. With the signing of this MOU, we will be providing a platform and opportunity for startups and corporates from both countries to access each other with support provided on the ground in a structured, programmatic way,” said Krishnan.