Overview of Canada Startup Visa

Under the Canada Start-Up Visa Program, aspiring entrepreneurs have access to various pathways that cater to different preferences and circumstances. Let’s explore the three key programs available:

1. Solo Business Incubator

The Solo Business Incubator program under the Canada Start-Up Visa offers a unique opportunity for aspiring entrepreneurs who prefer to operate independently. As the principal applicant, you can pursue your start-up venture without the need for additional partners. This program provides flexibility, privacy, and tailored support to help you bring your innovative business idea to life.

Some important points:

• The main applicant must be between 20 and 50 years old.
• Obtaining a Letter of Support typically takes around one month.
• This program offers more privacy and confidentiality, as there is no requirement to participate in group discussions.
• It provides greater flexibility in scheduling, as there is no need to coordinate training with other group members.
• There is no risk of the Essential Partner (required in other programs) not obtaining approval for permanent residence.
• The business concept can be tailored specifically to the individual client’s needs.

Note: You don’t need to secure a financial investment from a business incubator. You must be accepted into a Canadian business incubator program.

2. Angel Investor Group

The Angel Investor Group program within the Canada Start-Up Visa offers a collaborative approach to entrepreneurship. By joining forces with a group of like-minded individuals, you can leverage the collective resources and expertise of the investor group to launch your start-up. This program provides financial support, networking opportunities, and a streamlined application process to accelerate the growth of your business.

Some important points:

• The Angel Investor Group program involves a group of 3-4 applicants forming an investor group.
• The principal applicant must be between 20 and 65 years old.
• The Angel Investor Group is required to invest a minimum of $75,000 in the start-up business.
• Obtaining a Letter of Support typically takes around two months.
• This program requires less applicant training and interview preparation.
• It involves fewer virtual interviews compared to other programs.
• The flexibility in arranging investor groups leads to faster processing times.
• The program offers a more streamlined federal visa processing experience.

3. Venture Capital Fund

The Venture Capital Fund program is designed for ambitious entrepreneurs seeking substantial investment and professional backing for their start-ups. By partnering with a Venture Capital Fund, you gain access to significant funding and invaluable mentorship. This program offers a streamlined pathway to secure the necessary resources and expertise needed to scale your business rapidly.

Some important points:

• The Venture Capital Fund program also involves a group of 3-4 applicants forming an investor group.
• The principal applicant must be between 20 and 70 years old.
• The Venture Capital Fund is required to invest a minimum of $200,000 in the start-up business.
• Obtaining a Letter of Support typically takes around two months.
• Similar to the Angel Investor Group program, it requires less applicant training and interview preparation.
• It involves fewer virtual interviews compared to other programs.
• The flexibility in arranging investor groups leads to faster processing times.
• The Venture Capital Fund program has a high success rate with the Immigration, Refugees and Citizenship Canada (IRCC).
• The applicant often becomes a 15-20% shareholder in the business, exceeding the minimum requirement of 10% shareholding.