MUMBAI, India--(BUSINESS WIRE)--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 Honourable 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.
Communitech was founded in 1997 by a group of entrepreneurs committed to making Waterloo Region a global innovation leader. At the time it was crazy talk, but somehow this community managed to pull it off. Today, Communitech is a public-private innovation hub that supports a community of more than 1400 companies — from startups to scale-ups to large global players.
Communitech is a member of the Ontario Network of Entrepreneurs and helps tech companies start, grow and succeed in three distinct ways.
- Communitech is a place – the center of gravity for entrepreneurs and innovators. A clubhouse for building cool tech and great companies.
- Communitech delivers programs – helping companies at all stages with access to capital, customers and talent. We are here to help them grow and innovate.
- Communitech partners in building a world-leading ecosystem – making sure we have all the ingredients (and the brand) to go from a small startup to a global giant.
T-Hub is India's fastest-growing startup engine catalyzing Innovation, Scale and Deal flow. T-Hub is a unique public/private partnership between the Government of Telangana, three of India’s premier academic institutes (IIIT-H, ISB and NALSAR) and key private sector leaders. T-Hub aims to forge many such partnerships with governments and corporates across the world to setup T-Bridge centers, strengthening trade relations and attracting investment into the state of Telangana.
T-Hub is one of the largest start-up ecosystem builders in India, with more than 2,000 startups in its database clustered into various stages of growth across sectors of specialization – a model of community development that is unique to Hyderabad. Such a unique model enables investors and corporates to plan programs and capacity building initiatives in a targeted and organized manner. T-Hub is also the only model where the government is working intensely with the investor and the partner to fuel innovation and facilitate enterprise. For more information about us, please visit www.t-hub.co.