IIT Kanpur business incubator signs MoU with Canada’s TBDC to empower startups

The primary objective of the MoU, signed by IIT Kanpur and TBDC, is to provide business advisory, investors and industry connects to the startups

Lucknow: Foundation for Innovation and Research in Science and Technology (FIRST), the technology business incubator at IIT Kanpur, has signed a Memorandum of Understanding (MoU) with the Toronto Business Development Centre (TBDC), Canada.

IIT Kanpur’s FIRST is emerging as a pioneer in nurturing startups. (Photo for representation)

The MoU’s primary objective is to provide business advisory, investors and industry connects to the startups qualifying under TBDC’s programmes like Startup Visa and Soft-Landing Program. The selected startups will also get an opportunity to relocate to Canada.

The enterprises further will launch a joint cross-mentorship program as a collaborative venture for startups from both nations. This partnership will bring significant changes to the existing startup ecosystem in both the countries. In addition to this, FIRST and TBDC will also provide an opportunity for incubation to the selected startups for a period of 6 months.

“We already have a partnership with Singapore India Chamber of Commerce. I am glad that with the establishment of the partnership with TBDC, we are moving a step forward towards expanding our footprints to make a mark in the global entrepreneurial ecosystem,” said Prof. Abhay Karandikar, director, IIT Kanpur. He further added that “FIRST IIT Kanpur is emerging as a pioneer in nurturing startups through their journey.”

Adding to this, Nikhil Agarwal, CEO FIRST, IIT Kanpur, said, “I’m delighted on the signing of this MoU. FIRST has always worked towards serving the greater good, and this joint effort with TBDC will advance our startups by exposing them to exceptional networks through TBDC.”