Canada Expands Startup Visa Program with Business Incubator Stream


In an effort to attract entrepreneurs from around the world, Immigration Canada, in consultation with the Canadian Association of Business Incubation (CABI), has launched a new business incubator stream under the start-up visa program.

Business incubators are a support system for entrepreneurs to help develop their companies in the early stages of the business. They typically provide additional resources and services to start-ups, in addition to giving valuable mentorship and access to a large business network.

Canadian immigration minister Chris Alexander sees this new stream as an opportunity to create jobs and ensure long-term economic growth. “It will attract early-stage and high growth businesses, and entrepreneurs who can contribute to a culture of innovation and commercialization in Canada,” minister Alexander said in a press release. He also sees the program as a way to attract young entrepreneurs to Canada and partner them with a large network of venture capitalists and angel investors.

Canada will begin accepting applications on October 26, 2013, and applicants must meet a certain criteria in addition to the standard admission requirements. These include having a business plan, meeting education and language requirements, and having a sufficient amount of settlement funds. The Startup Visa is a five year pilot program launched initially in April 2013 that is limited to 2,750 applications per year.

FWCanada is a Montreal-based immigration law firm that provides professional legal services on Canadian immigration. For the latest updates on Canadian immigration and Canadian diversity, follow FWCanada on Facebook, Twitter, and Linkedin.

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