On Monday, August 5, BSE Limited’s Ambarish Datta and Ryerson University president Sheldon Levy signed a memorandum of understanding (MOU) while announcing the building of a satellite incubator in India. Levy pointed out that the initiative was to be the pinnacle of opportunities in entrepreneurship and innovators were to be given international exposure to enhance creativity, leadership and skills so that both countries could get the maximum return from the venture.
“BSE Limited is a financial marketing institute based in India. Along with Ryerson University and Ryerson Futures Inc., the three institutions will create the BSEI-Ryerson Digital Media Zone, a new incubator for entrepreneurs to fast-track their startups and connect with mentors, customers and investors. It will allow young Indian entrepreneurs to benefit from DMZ best practices while providing channels to expand into both the Indian and Canadian markets.”
BSE Limited’s Datta focused on how entrepreneurship can benefit both countries and how it has helped countries like US, Israel and Germany boost their economy. He also spoke of how this needs to be brought about in the youth of India where the country experiences unbearable amounts of unemployment and poverty rates. “Setting up of new enterprises can contribute in a major way to address this issue,” he said. “The Digital Media Zone at Ryerson University (DMZ) is one of Canada’s largest incubators and multidisciplinary co-working spaces for young entrepreneurs. It’s a hub of digital media collaboration, innovation and commercialization and has been home to several notable startups. These include Kira Talent, Mejuri, Food Story, Thumble and Tiny Hearts, among others. Levy and the rest of the DMZ are hoping that some of the success happening at the corner of Yonge and Dundas can be transferred over-seas to India.”
Ryerson Futures Matt Saunders said that this initiative will allow for young entrepreneurs to have a fresh start and an insight into a broader market. They will have access to new markets and will have a chance to broadcast their skills. This will significantly boost India’s economy. To add frosting to the cake, the duo of BSE Limited and Ryerson also announced to have a competition called the “Next Big Idea” for famous companies that will test skills of different participants and the winner will be awarded with a three week paid stay at DMZ in Toronto along with a DMZ membership. The competition commences on 12th August and ends on the 30th of the same month.
Source: Ryerson University
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