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Citizenship and Immigration Minister Chris Alexander announced today that the popular Entrepreneur Start-Up Visa Program will add a new stream to link foreign entrepreneurs with business incubators in Canada. The stream is scheduled to begin accepting applications on October 26, 2013.<\/p>\n
Business incubators provide entrepreneurs with mentorship and support in finding investors and growing their business. The Business Incubator stream will link successful applicants to business incubators in Canada. It is the third stream to be created under the Entrepreneur Start-Up Visa Program. The program already includes streams that connect applicants to venture capital funds and angel investment groups.<\/p>\n
\u201cAs part of our government\u2019s focus on jobs, growth and long-term prosperity, it is critical for Canada to attract the best entrepreneurs and innovators from around the world,\u201d said Minister Alexander. \u201cThis new stream will partner Canada partner Canada\u2019s world class business incubators with immigrant entrepreneurs, driving growth and placing Canada ahead of its competitors in the global economy of the 21st century.\u201d<\/p>\n
Business incubator organizations that are eligible to partner with immigrants under this immigration program will be chosen by the government, in consultation with the Canadian Association of Business Incubation (CABI).<\/p>\n
The Entrepreneur Start-Up Visa program is a five-year pilot project that began accepting applications in 2013. In addition to introducing the business incubator stream, Minister Alexander also announced that an additional five Canadian venture capital funds will soon be added to the list of eligible partners under this program.<\/p>\n