The Indo-Canada Chamber of Commerce (ICCC) and The Indus Entrepreneur (TiE) – Toronto (TiE-Toronto) have signed a Memorandum of Understanding on 24 March 2021. The purpose of the MoU is to enhance cooperation between ICCC and TiE-Toronto to strengthen strategic partnership to maximize benefits to the members of both the organizations. TiE-Toronto will participate in the ICCC’s upcoming 10 Days 10 States Virtual Trade Mission to India being organized between 11 May and 25 May.

Announcing the partnership, Vijay Thomas, President, ICCC, in a statement issued in Toronto, said, “We are delighted to welcome TiE-Toronto as our strategic partner. Synergies exist between the ICCC and TiE-Toronto to combine efforts to nurture a relationship beneficial to members of both the organizations,” he said.

Mahendra Naik, President, TiE-Toronto, said, “The MoU between TiE-Toronto and the ICCC will pave the way for a more cohesive approach to build mutually beneficial programs that can directly add value to members of both our organizations. We are eagerly looking forward to our participation in 10 Days 10 States Virtual Trade Mission. We will involve TiE chapters in these 10 states to participate in the program.”

The Indus Entrepreneur (TiE) – Toronto is the Toronto Chapter of TiE Global Entrepreneurship Organization. Since 1992. TiE has been supporting entrepreneurs by offering education, mentorship, networking and funding opportunities. The mission of TiE is to foster entrepreneurship through mentoring, networking, education, funding and incubation. With a focus of giving back to the community, TiE’s focus is on generating and nurturing the next generation of entrepreneurs. Its vision is to assist entrepreneurs to empower individuals and create wealth in communities.

While the MoU covers 15 broad areas of cooperation, the main ones are:

• Member discounts: ICCC will offer all active TiE-Toronto members 25 % discount on Corporate Members for the first year. Similarly, TiE-Toronto will offer ICCC members 25% discount on its Associate Membership (both offers will be valid until 31 March 2022).
  
• Member rates: ICCC and TiE-Toronto agree to apply member rates for members of each organisation should they wish to participate in any event organised by either organization.
• Promote business: Work cooperatively to identify and explore business and career opportunities between ICCC and TiE-Toronto members, and jointly work to identify and create bilateral economic, technical and business opportunities between Canada and India.
  
• Advocacy: Develop ways that companies can reduce risk of entering bilateral business relationships between India and Canadian markets or any territories like US, and be advocates to the Canadian Government on policies that hinder the development of business and technology linkages between Indian and Canadian companies.
• Networking: Be an effective forum for networking, exchanging ideas and information and advancing the interests of the ICCC and TiE-Toronto.