Entrepreneurs: Present Your Pitch and Transition to Canada!
From: Immigration, Refugees and Citizenship Canada
News Release
Canada thrives on embracing global talents and ideas. Inviting entrepreneurs with the skills to transform their visions into thriving enterprises is a key way to foster a world-renowned innovation economy.
Permanent Launch of the Start-up Visa Program for Entrepreneurs
July 28, 2017 – Toronto, ON – Canada’s welcoming nature extends to global entrepreneurs, essential for building an innovative economy. The Start-up Visa Program, initially a pilot, will become a permanent feature in 2018.
Launched in 2013, this program allows visionary entrepreneurs to apply for permanent residency in Canada. It requires significant investment from a Canadian venture capital fund, angel investor, or acceptance into a business incubator.
Evaluations confirm the program’s success, with immigrant entrepreneurs spearheading innovative companies that bolster Canada’s economy and create jobs.
This permanent transition aligns with Canada’s Innovation and Skills Plan, aimed at fostering investment and company growth, ultimately generating well-paid jobs for Canadians.
In preparation for the pilot’s conclusion on March 31, 2018, IRCC will draft the necessary regulations for a smooth transition.
Expert Opinions
“Each company that starts in Canada under the Start-up Visa Program holds potential for significant contributions to the Canadian economy by creating jobs. Our Innovation and Skills Plan stresses the importance of nurturing entrepreneurship and start-ups, and making the program permanent reinforces this agenda.”
– The Honourable Ahmed Hussen, Minister of Immigration, Refugees and Citizenship
“Canada gains from the jobs generated when international entrepreneurs establish businesses here. By cementing the Start-up Visa Program, we attract innovators who create job opportunities and equip Canadians with future-relevant skills.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development Canada
Key Highlights
By July 15, 2017, 117 principal applicants secured permanent residence, representing 68 start-ups initiated via the Start-up Visa Program.
Over 50 Canadian venture capital funds, angel groups, and incubators are designated participants in the program.
In the program’s initial three years, entrepreneurs received over $3.7 million in investments, boosting Canada’s economy and innovation landscape.
Associated Resources
Contact Information
For Media Inquiries
Hursh Jaswal
Minister’s Office
Immigration, Refugees and Citizenship Canada
613-954-1064
Media Relations
Communications Branch
Immigration, Refugees and Citizenship Canada
613-952-1650
IRCC.COMMMediaRelations-RelationsmediasCOMM.IRCC@cic.gc.ca
Karl W. Sasseville
Press Secretary
Office of the Minister of Innovation, Science and Economic Development
343-291-2500
Media Relations
Innovation, Science and Economic Development Canada
343-291-1777
ic.mediarelations-mediasrelations.ic@canada.ca
Frequently Asked Questions
What is the Start-up Visa Program?
The Start-up Visa Program offers a pathway to permanent residency for innovative entrepreneurs who secure investment from Canadian investors or incubation from a business incubator.
How does the Start-up Visa Program benefit Canada?
This program fosters economic growth by attracting global entrepreneurs to create businesses that provide jobs and stimulate innovation in Canada.
Who can apply for the Start-up Visa Program?
Entrepreneurs with innovative business ideas supported by a Canadian venture capital fund, angel investor, or incubator may apply for the program.
What changes are expected with the program’s permanence?
As the pilot transitions to a permanent program, regulations will be finalized to ensure a seamless continuation beyond March 31, 2018.
For further details, read our immigration guide or contact us today.
