Startup Visa Program Started Officially by Canada in 2018

04 Sep 2018

The Canadian government told it had requested for more than 50 venture capital funds of Canada, angel investor groups, and business incubators to engage in the program, which will shortly become permanent.

Canada intends to formally begin issuing visas for entrepreneurs of the startup in 2018, following a program pilot that started in 2013. The visa gives permanent residency to businesspersons if a venture capital fund of Canada or angel investor group funds in their business, or if they are allowed into a business incubator.

Importance of Startup Visa Program

Every organization started in Canada with the aid of the ‘startup visa program’ has the potential to be a big success for Canadians by giving middle-class jobs and growing our economy, stated Immigration, Refugees, and Citizenship Minister, Ahmed Hussen.

The pilot till now directed to the start of 68 startups, produced a mixed $3.7 million (US$ 2.9 million) in investment capital and allowed residency of Canada to as many as 117 immigrants.

The government announced it had urged higher than 50 venture capital funds of Canada, angel investor groups, and business incubators to compete in the program, which will shortly become permanent.

Canadians profit by the jobs that are generated when entrepreneurs get from all corners of the world to start businesses in this nation stated Innovation, Science, and Economic Development minister, Navdeep Bains.

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