Startup Canada Day Sees Minister Alexander Addressing The Industry Leaders

22 Nov 2013

Canada’s SUV (Start-Up Visa) Program has built a lot of momentum since its inception earlier this year. Building on that, Chris Alexander, the Citizenship and Immigration Minister of Canada spoke to the members of startup industry and community leaders as part of Startup Canada Day on the Hill.

Alexander said that entrepreneurship and innovation drives economic growth and helps secure future prosperity for the people of Canada. Immigration is essential to innovation and to meeting the labor market and economic needs of Canada.

Organized by Startup Canada, Startup Canada Day on the Hill represents over 250 volunteers, more than 400 partner organizations and above 55,000 entrepreneurs.

Citizenship and Immigration Canada (CIC) has launched the SUV Program earlier this year which is the first of its kind in the world. The SUV program provides Permanent Residency and access to a wide range of business partners to sought-after entrepreneurs. Canada aspires to become a hot-spot for start-up innovators which will help Canada stay competitive in the international economy through this bold new program.

The SUV is a 5-year pilot program and will accept only 2,750 applications in a year. It is crafted to draw in select, high quality entrepreneurs who can boost the innovation agenda of Canadian Government. Apart from the standard admissibility requirements, SUV applicants need to meet particular eligibility criteria of the program.

Minister Alexander has announced in October that the SUV Program was being expanded to add a new stream for Business Incubators. This new Business Incubator stream complements existing angel investor and venture capital streams by drawing in early-stage and high growth businesses, and entrepreneurs who can assist in the culture of commercialization and innovation in Canada.

Alexander said that the Government plays a vital role in empowering and supporting entrepreneurs who are the backbone of prosperity in Canada. He added that the government will continue its efforts to attract the brightest and best immigrant entrepreneurs, who possess the ability to build innovative companies that can establish jobs for Canadians and compete on an international scale.