New Visa Scheme To Attract Innovative Immigrant Entrepreneurs

25 Jan 2013

Citizenship, Immigration and Multiculturalism Minister Jason Kenney has announced a new Start-Up Canadian Entrepreneur Visa to boost the economy and employment of country.

The brand new program would be launched on April 1^st, 2013. The visa is designed for immigrant entrepreneurs who would create new jobs in Canada with their innovative business ventures.

 “Our new Start-Up Visa will help make Canada the destination of choice for the world’s best and brightest to launch their companies,"” said Minister Kenney.

“Recruiting dynamic entrepreneurs from around the world will help Canada remain competitive in the global economy."”

Canadian Start-Up Visa Program will connect immigrant entrepreneurs with private sector Canadian organizations. Private sector organizations in Canada have experience working with start-ups and can offer essential resources to the business start-ups.

The visa applicants for the Start-up Entrepreneur program should have support of a Canadian angel investor group or venture capital fund to survive in Canadian market.

Citizenship and Immigration Canada (CIC) will collaborate with two financial investment groups: Canada’s Venture Capital & Private Equity Association (CVCA) and the National Angel Capital Organization (NACO).

These groups will analyse and identify potential members who are eligible for the Program. CIC has also collaborated with Canadian Association of Business Incubation to include business incubators in the list of eligible organizations as soon as feasible.

“CVCA is honoured to partner with the Government of Canada in the launch of the Start-Up Visa Program,” said Peter van der Velden, President of the CVCA and Managing General Partner of Lumira Capital. “Through this Program, we want to attract high-quality entrepreneurs from around the globe and help build best-in-class companies in Canada.”

“We’re excited to be a part of the Start-Up Visa Program,” said Michelle Scarborough, Board Chair of NACO. “Working with CIC and angel groups across the country, this initiative will create Canadian jobs and position Canada as a leader in innovation.”

Canada Start-up Entrepreneur Program would offer immigrant entrepreneurs with Canadian PR and immediate access to a wide range of business partners. This will enhance Canada’s image as a preferred destination of choice for business start-ups.

“Jobs, growth and long-term prosperity remain priorities for the Government of Canada, and this new Start-Up Visa Program underscores our commitment to supporting innovation and entrepreneurship in the Canadian labour market,”

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