BRAMPTON – The City of Brampton is on the verge of a deliberate and significant transformation with a growing innovation and technology sector that is full of opportunities for global businesses. Today, the City signed a memorandum of understanding with the National Association of Software and Services Companies (NASSCOM) of India to establish a Launchpad program in Brampton. Brampton is the only Canadian city to be selected for this program’s expansion.
Through this partnership, the Launchpad program will act as a catalyst for the global expansion of Information Technology (IT) companies by increasing connections between the government of India and local technology ecosystems. Participants in the program will have improved access to working in foreign markets, with support in government regulations, tax planning and incentives in different regions.
The Brampton BHive – a soft landing pad for international businesses in Downtown Brampton – will act as home base for IT companies participating in the program.
National Association of Software and Services Companies (NASSCOM)
NASSCOM is the premier trade body and chamber of commerce of the technology industry in India and comprises more than 3,000 member companies including both Indian and multinational organizations that have a presence in India. Its membership spans across the entire spectrum of the industry from start-ups to multinationals and from products to services, Global Service Centers to Engineering firms.
About Brampton’s Innovation District
The Innovation District, located in Downtown Brampton, has a sharp focus on start-up scaling, investment attraction and talent development, and provides local support for entrepreneurs and new business. It also offers resources to support innovation and technology companies in advancing their work.
With agreements starting in 2019, the City has committed to investing approximately $20.5 million in its Innovation District, with an additional approximately $55.2 million in investments being drawn in by Innovation District partners.
Partners in the Innovation District include entrepreneurial, business incubation, post-secondary training, and accelerator spaces like the Brampton Entrepreneur Centre, BHive Brampton, the Toronto Metropolitan University-led Venture Zone, Altitude Accelerator, the Founder Institute, Algoma University, and the Rogers Cybersecure Catalyst Headquarters and Accelerator. Sheridan Edge, the Brampton Board of Trade and Downtown Brampton BIA are also key partners in building the Innovation District.
About Brampton BHive
BHive, located in the Innovation District, is an initiative powered by the City of Brampton with a goal to empower the next generation of innovators, accelerate their journey and create a positive impact for the entrepreneur, economy and community as a whole. Established in collaboration with the Toronto Business Development Centre, BHive is intended to attract foreign entrepreneurs who wish to establish new, scalable businesses in Canada through the Start-up Visa Program. Successful applicants will be granted their permanent residency and during their 6-month incubation program, will be given a range of resources including office space, networking opportunities and business support services.
To learn more about the Innovation District, visit www.bramptoninnovationdistrict.com or watch the City’s video highlighting the impacts of this innovation ecosystem. To learn more about BHive, visit thebhive.ca.
“Throughout this term, Brampton City Council has prioritized advancing Brampton as a leader in innovation and a prime location to invest. Through strengthening relations with international partners like NASSCOM, we’re continuing to advance Brampton’s profile globally while providing local economic benefits. I look forward to continuing this important work with our partners!” – Patrick Brown, Mayor City of Brampton
“Through continued collaboration with local, national and international stakeholders, Brampton’s Innovation District is uniquely positioned to provide increased access to resources and services that help local entrepreneurs and businesses thrive. This partnership with NASSCOM will further accelerate the work we have done to date to build an innovation and entrepreneurship ecosystem in Downtown Brampton.” – Martin Medeiros, Regional Councillor, Wards 3&4; Chair, Economic Development, City of Brampton