18 July, 2014

Promoting jobs and economic growth through Canada's Start-up Visa

First two successful Start-up Visa applicants welcomed

Canada's Citizenship and Immigration Minister Chris Alexander welcomed the first two successful applicants under the Start-up Visa Program, which is designed to attract more entrepreneurs and create jobs for Canadians. 

Minister Alexander met with the entrepreneurs at GrowLab Ventures Inc. of Vancouver, the Canadian business incubator that is supporting Stanislav Korsei and Oleksandr Zadorozhnyi, formerly of Ukraine, in the development of their company, Zeetl Inc. Korsei and Zadorozhnyi have developed an application that allows firms to monitor social media for customer complaints and concerns and instantly establishes a temporary direct phone line that the customer can call.

The Start-up Visa Program, launched last year, brings together Canadian venture capital funds, angel investors and business incubators with entrepreneurs from abroad. Entrepreneurs present their business plan to Canadian private-sector firms and, if they receive support, they can apply for permanent residence in Canada.

With the Start-up Visa, Canada is targeting a new type of immigrant entrepreneur who has the potential to build innovative companies that can create jobs for Canadians and compete on a global scale.

Quick facts

• The Start-up Visa Program is an important part of the government's plan to build a fast and flexible economic immigration system, with a primary focus on meeting the new and emerging needs of the Canadian economy.
• The business incubator stream was added to the program in October 2013 to complement existing venture capital and angel investor streams.
• The Start-up Visa Program, the first of its kind in the world, links experienced Canadian private sector firms with innovative foreign entrepreneurs who want to launch their start-up companies in Canada.

Associated links

Start-up Visa Program: cic.gc.ca/startup

www.news.gc.ca