WAVTEQ India FDI case study Back to successes
One97 establishes a 100 person R&D centre in Canada WAVTEQ tracked that the company had raised $200 million from Alibaba Group's finance arm, Ant Financial and from Chairman Emeritus of the TATA Group, Mr. Ratan Tata.
WAVTEQ India approached the company in August 2014 to understand how they will use the funding to expand overseas.
We identified the need for increased R&D in Big Data.
WAVTEQ provided convincing information on the talent pool in the Toronto/ Waterloo area, the competitive advantages of investing in Ontario/Canada, and information on R&D incentives.
We facilitated site visits to Canada and coordinated closely with the HQ in India to secure the decision to invest.
Within 8 months of initial contact, the company began hiring in Toronto in April 2015 with an initial 50 Software Engineers and Data Scientists ramping up to 100 staff.
The company intends to leverage the Communications & Big data talent pool in the Toronto and Waterloo regions to build a Data Sciences Innovation Lab to develop technologies that empower the world's fastest growing mobile transaction ecosystem.