Five Indian tech start-ups have been crowned winners of the 3rd edition of the Next Big Idea Contest jointly hosted by the Government of Ontario, Canada and Zone Start-ups India, the Bombay Stock Exchange Institute and Amazon Web Services.
The five winners are Bengaluru based Lightmetrics Technologies Private Limited and Packal; Delhi based Neuron and Swift File Transfer, and Thane based Survelytics.
The Next Big Idea Contest, which started in July 2015, sought to discover India’s 5 most innovative technology companies who are looking to leverage a presence in Ontario, Canada, as a vehicle to expand to North America. Using the DMZ as a landing pad, the entrepreneurs will receive mentorship, business development advice and valuable international experience.
“The Indian start-up space has a massive growth potential. We know that this is also one of the focus areas for the Indian Prime minister. This contest is an opportunity for Indian start-ups to experience the North American market first hand and develop valuable new connections,” said Jens Michael Schaal, Counsellor (Commercial – Ontario), Ontario International – New Delhi Trade & Investment Office.
Ajay Ramasubramaniam, Director, Zone Start-ups, said, “The contest was conceptualized in 2013, with the objective of identifying promising tech start-ups from India, and showcasing them in Toronto. This year the contest has been launched across 9 cities, with 7 city-based accelerator partners. This 3rd Edition of the Next BIG Idea Contest saw 308 applicants contesting for the top slots. It was a challenge zeroing down on the top five.”
The winners were selected based on three criteria – whether the business pitch has the potential to go global, whether the contestant already has a footprint in North America, and lastly if the pitch sported an intellectual property with potential to go global.