Bay Street Diary, which is a Canadian accelerator for startups, as well as providing young Canadian business owners with educational videos and podcasts, recently announced that it is launching a $100 million fund to promote, educate and advance startups in India and Canada. This fund, known as the Indo-Canada Partnership Fund, is in collaboration with the India Network, as a way to promote collaboration and entrepreneurship in these two countries, as well as providing a way for young businessmen to be able to connect with each other in India and Canada.
Bay Street’s primary goal is to promote entrepreneurship and create opportunities for entrepreneurs globally to help them reach their goals. Thus, the combination of Bay Street’s expertise with the vast network and reach of the India Network will create a unique platform for young businessmen in both countries to take advantage of, as well as opening up exciting new markets and opportunities globally and locally.
Bay Street Diary is a platform for education and skill development for entrepreneurs, by using podcasts, interviews, videos, and other content forms to get essential information to those who need it.
This is an extremely important initiative, especially given the current scenario due to the pandemic, which has depressed economic growth all over the world, making it more difficult for startups to get funding. At the same time, the growth of the internet and increased digital solutions mean that entrepreneurship is thriving like never before globally, across various sectors. For example, the online gambling sector has seen tremendous innovation in just these last few months in the face of the pandemic, where casinos like the Winz bitcoin casino online have begun to offer BTC games and other ways for users to be able to use cryptocurrencies on their sites. This has led to increased traffic and revenue for these sites, especially as customers have been using them as an alternative to land-based gambling, which does not offer these amenities, and most land-based casino venues have been closed due to the pandemic. Thus, it shows a very effective way to position the brand using existing circumstances.
As far as this partnership is concerned, Bay Street will be investing in entrepreneurs and companies across all stages of the early business life cycle, and will also provide guidance and expertise with regard to growth and capital, while also giving the scope for partnerships, and providing access to a network of global business leaders for advice and counsel. Bay Street has also invested in Kocean Edutech Private Limited, which is an Indian company, to offer entrepreneurs a platform for learning, development, and skill enhancement in areas that would be best suited to their respective business environments and trajectories.
The India Network is focused on entrepreneurs in smaller cities, towns, and even villages in India, who may not have access to capital and mainstream knowledge in vital areas. The aim is to connect such people to the right mentors and investors from across India, for them to be able to reach their goals and maximize the opportunities that their ideas can generate. It looks at companies across the start-up spectrum and believes that geography and language should not be barriers to investment and growth in those startups which deserve to be seen and to grow.
The India Network also hopes to be able to take advantage of this partnership to send young Indian business owners to Canada for learning and development opportunities, once the pandemic has abated. This fund is expected to launch in early 2021, and to start deploying and investing capital by mid to late 2021.
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