"India and Canada have many things in common like shared traditions of parliamentary democracy, commitment to pluralism and strong people-to-people ties," Johnston said after inaugurating the BSE Institute-Ryerson entrepreneurship incubator at BSE in Mumbai.
The joint venture between the Ryerson University, Toronto and the Bombay Stock Exchange Institute Ltd, named BIL-Ryerson Digital Media Zone, will help fast track start-ups and connect with mentors, customers and investors.
"BIL Ryerson DMZ will offer expert guidance and mentoring to young entrepreneurs with ideas to refine their concepts, set up businesses and also connect them with investors for securing capital," said Sheldon Levy, President of Ryerson University.
Ryerson's Digital Media Zone is one of Canada's largest incubators that has launched 142 projects since its inception in 2010. The MoU for the India-based incubator was signed in July, 2013.
Canada and India have long-standing bilateral relations, with more than one million people of Indian origin based in Canada. The trade between the two countries was valued at approximately $5 billion in 2011-12.
During his 10-day visit to India, covering Delhi, Bangalore and Mumbai, the Canadian Head of State focused on sectors like education, innovation and entrepreneurship.