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Canada announces a new visa program to welcome Immigrant Entrepreneurs

August 2013, 05
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Canada visa program
Citizenship and Immigration Canada (CIC) started to a Startup Visa Program that recruits and supports globally competitive immigrant entrepreneurs. Individuals who are accepted under this program are offered with Canadian permanent residency. The main advantage of Start-up Visa Program is to generate more jobs in the Canadian market. The other feature of this Program is to assist the international business professionals in partnership with the private sector of Canada. Partners from the private sector offer support and an array of services to immigrant entrepreneurs and they are networked directly to the CIC in order to fast track applications.

Citizenship, Immigration and Multiculturalism Minister, Jason Kenny, said that Startup Visa Program was launched for making Canada as the destination spot for world’s brightest and best to start their companies. This program offers a powerful aspect to attract different individuals with global and national potential, who can have an impact on the development and economy of Canada. Hence, Canada is positioning itself in such a way that it is the perfect destination for start-ups.

Capital Support for Ventures

It is important to provide support for the immigrant entrepreneurs through private-sector organisations for ensuring the long-term success of both entrepreneur and investor. Startup Visa Program requires support of Canadian angel investor group of venture capital funds before the immigrant entrepreneurs make an application towards it. National Angel Capital Organization (NACO) and Canada’s Venture Capital & Private Equity Association (CVCA) will be collaborated with CIC towards this program.

Managing general partner of Lumira Capital and president of President of the CVCA, Peter Van Der Valden, said that they are honoured for becoming a partner with Canadian government in the starting of Startup visa program. He also expressed that through the program, they intend to attract many high-quality entrepreneurs across the world for helping Canada to build world-class companies.

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