Montreal and Paris launching startup exchange program in May 2016

paris

Young startups working in Montreal or Paris will have the chance to expand to an international city.

Startupfest and Paris&Co, a Paris economic development agency, are partnering to establish the Echange Startup Montreal – Paris program. Starting in May 2016, 10 startups from each respective city will work in an incubator or accelerator in their opposite city.

Eligible startups must work in the tech or creative/cultural industries, be less than five years old, and should have raised less than $1.5 million or 1 million€. The program runs for three months, and while the space is paid for, startups must pay for their flight and living costs.

“We’re running this contest to build bridges between our two cities and to get our two ecosystems communicating and exchanging,” Phil Telio, founder of Startup Fest, told MTLinTech. “For any Montreal companies interested in opening up in the European market, they now have the opportunity to go an work in Paris for three months, and vice-versa.”

Besides having access to the resources of the accelerator or incubator they work in, startups can participate in cultural and entrepreneurial events organized by their hosts. Startups from Paris will receive a free ticket to the International Startup Festival. The intention behind the program is to help these startups, which are otherwise bootstrapping, expand into global markets.

“One of the objectives of Paris&Co is to create diverse opportunities and to add value for startups. Montreal is a global city with a wide pool of promising startups,” said Paris&Co co-director Karine Bidart. “We look forward to welcoming some of these talented entrepreneurs here in Paris for three months of intense work.”