Today, Ryerson University and the DMZ, the top- ranked university-based incubator in North America and third in the world, have signed a Memorandum of Understanding (MoU) with ProMexico and LatAm Startups.

The signing of the MoU comes off the heels of President of Mexico, Enrique Peña Nieto’s visit to Ottawa for the North American Leaders’ Summit, which focused on creating a more integrated and globally competitive North American economy.

The MoU will provide a framework to coordinate efforts in enabling collaboration on joint entrepreneurship programs and supporting innovators in developing invaluable insights and relationships abroad.

“This partnership creates an opportunity for joint ventures aimed at maximizing the impact of international opportunities for entrepreneurs and broadening innovation globally,” said Mohamed Lachemi, President and Vice-Chancellor of Ryerson University. “We’re delighted to partner with ProMexico and LatAm Startups to provide a bridge for innovative technology businesses to collaborate in various sectors between Canada, Mexico and the rest of Latin America.”

One of the possible initiatives to be delivered in collaboration with ProMexico and LatAm Startups is an exchange program providing the opportunity for tech entrepreneurs from each location to spend two weeks in the sister incubation centre. During this stay, the winning entrepreneurs will be able to meet with key stakeholders to help scale their business internationally. The Guadalajara Creative Digital City (Ciudad Creativa Digital), an ecosystem that boosts

Mexico’s economic development, will be supporting this program.

“The importance of providing a global network for high-potential startups to scale internationally is immeasurable,” says Francisco N. González Díaz, CEO of ProMexico. “Entrepreneurs from both countries should be given the opportunity to connect with like-minded talent abroad and leverage the wealth of opportunities in a thriving foreign market.”

Since opening its doors in 2010, the DMZ has made it a priority to foster international opportunities for entrepreneurs. The DMZ has created links to top- tier incubators and accelerators around the world by hosting international entrepreneurs from the United Kingdom, South Africa, India, Israel and more.

“It is essential to develop strategic partnerships that create soft landings for promising startups and SMEs in global markets,” says Abdullah Snobar, Executive Director at the DMZ. “The signing of our MoU with ProMexico and LatAm Startups presents an opportunity to provide new platforms for our entrepreneurs to accelerate market access in Latin America.”

The MoU with ProMexico and LatAm Startups contributes to the DMZ’s mission to provide entrepreneurs ‘borderless innovation’ by connecting them with mentors, investors and customers internationally.

Through this partnership, entrepreneurs from Mexico and the DMZ at Ryerson University can leap onto the world stage with ample business opportunities and deeper insight into the international market.