October 21, 2013

The New Business Incubator Stream Announced Under the Start-up Visa Program

Posted by admin - Bellissimo Law Group PC

Posted by: Mario D. Bellissimo

A new visa stream was announced today aimed at attracting foreign entrepreneurs to Canada.  The Business Incubator stream launches under the Start-up Visa (SUV) Program.  The SUV Program is designed to encourage diverse foreign entrepreneurs to set up in Canada, increasing the economy and creating job opportunities.  The new stream will provide mentoring that will help new businesses to attract investors and achieve a level of sustainability in the Canadian economy.  Citizenship and Immigration Canada have worked together with the Canadian Association of Business Incubation to bring about this new stream.  It will begin accepting applications as of 26 October 2013.

In addition, Citizenship and Immigration Minister Chris Alexander announced that five more Canadian venture capital funds will join as SUV partners.

The SUV program has a cap of 2,750 applications per year and is a five-years pilot program.

Click here to learn more about the Start-up Visa Program.