Accelerator 'Startup Reseau' Announces Inaugural Cohort; Selects 35 Indian Startups
Startup accelerator, Startup Reseauhas shortlisted 35 Indian startups to participate in the inaugural cohort of Startup Bridge Canada (SBC).
The accelerator was launched by Ajay Ramasubramaniam and Sweta Tiwari. In December 2020, Startup Reseau announced SBC, a six-week pre-market entry startup program for growth stage Indian startups to access and understand Canada and build their strategy for North America foray.
Ajay Ramasubramaniam, Co-Founder CEO, Startup Reseau, said, “As an organization, we are always looking to unlock global market opportunities for Indian startups seeking to expand internationally, by way of structured market access programs. With a strong focus on being a developer of startup ecosystem in emerging markets, we continue to remain bullish about prospects for Indian startups in mature markets such as North America and Europe.”
The 35 startups who have made it to the program are: AssessHub, CDSpace Robotics, QATTS, Signzy, Datalkz, MyTrux e-commerce, SuperFan.AI, NLP Bots, Dimension NXG, BugClipper, SafexPay, Myrsa, Oleo, GetNatty, Scribble Data, Udbhaata Tech, Discover Dollar, FynTune, Roadmetrics, The Solar Labs, Etude 360, AuthBase, Zimyo, Dave.AI, WhatsLoan, Swaayatt Robots, Label Blind, AlmaShines, Rockmetric, Econolytics, IBS FinTech, Detect Tech, Catalyst Green, EHNote and GreyAtom.
In addition to the proximity to major US business hubs, Canada presents a stable economy, large corporations and their innovation and R&D centres, great talent, a strong tech ecosystem, ease of doing business, favourable business immigration, and startup visa program. To further facilitate entry of Indian startups in Canada, Startup Réseau has tied up with the Government of Alberta, Government of British Columbia, Government of Ontario and economic development agencies including Toronto Global, Montreal International to help a cohort of Indian entrepreneurs grow, scale, and promote their businesses in Canada, and access the larger North American geography.
Stewart Beck, President, Asia Pacific Foundation of Canada, says, “Canada is a recognised global leader in machine learning and digital innovation. Canadian immigration policies and startup environment have attracted highly qualified technology talent and savvy investors from around the World making Canada an excellent choice for Indian entrepreneurs to establish their beachhead for growth in North American and European markets.”
The inaugural edition of Startup Bridge Canada received 276 applications from which 35 startups made their way to the cohort. The program will run virtually and has been inaugurated by H.E Ajay Bisaria, High Commissioner to Canada.
The 35 founders in the cohort have cumulatively raised in excess of $26 million and run an ARR of over $16.5 million. The average team size of one-thirds of the cohort is 40 team members, while we have 3 startups with team sizes exceeding 100 members. “Having been in the Canada – India corridor for almost 12 years, I can confidently say that this is by-far the strongest group of Indian startups being exposed to the Canadian market and its stakeholders,” adds Ajay.
The shortlisted startups operate in a wide variety of industries, including financial services, infrastructure, large enterprise accounts and ESG. Over 50 percent of the cohort applies fast growing technologies like AI / ML.
The virtual programme will take place over the course of six weeks beginning on February 15th 2021.