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Startup visa success rate?

D

david324

Newbie
Oct 15, 2021
6
0
Startup_Visa said:
@david324 @Uzul24 - I know there is lot of anxiety when applying and your questions are very logical, but you should be asking these questions to the Angel Group you have applied to. As each Angel group has their own process and timeline. On top of that each case is different, so even if you find another startup founder who went through the same Angel, the timeline and experience would be very different.

Just to give some context, when you go through Angel or VC they would do a deep-dive into your business plan and financials as they plan to potentially invest their money in your startup. So don't expect a quick turnaround and be prepared to go through a long due-diligence and legal paperwork. Assuming they agree to invest in your startup, then a Term Sheet needs to be negotiated and finalized, legal entity created, share agreements done, money transfered to the new entity. All this needs to happen before they can even issue the LOS.

If you know how startup investing works then you should be able to make a good estimate on how long all this process would take. And you should be upright with your Angel or VC and ask them the process and estimated time to LOS. Any reasonable Angel or VC would share that basic information.
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Appreciated your kind response. Thank you.
 
D

david324

Newbie
Oct 15, 2021
6
0
Excuse me. One more thing.

My application to Angel was through my lawyer 5 months ago. The project is about a green new building material. The recent update is that Angel are still doing diligence. Is this reasonable according to your experience ?

Thanks
 
S

Startup_Visa

Star Member
Sep 30, 2019
135
104
david324 said:
Excuse me. One more thing.

My application to Angel was through my lawyer 5 months ago. The project is about a green new building material. The recent update is that Angel are still doing diligence. Is this reasonable according to your experience ?

Thanks
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Personally speaking, if you haven't directly interacted with the Angel group and only your lawyer is dealing with them, then I would start looking elsewhere. Hopefully you din't pay the lawyer any upfront fees for this. Going forward, I would suggest you reach out to Angel and VCs directly, there is no need to go through any lawyers or agents.
 
D

david324

Newbie
Oct 15, 2021
6
0
Noted with thanks. According to you, how long is average lead time for Angel to do the dd and other process ?

Thanks again.
 
J

Jhitomedia

Full Member
Nov 3, 2020
27
4
hi guys this thread is so much information thank you so much, our team was fortunate enough to be accepted by MTA and currently waiting for our contract/agreement, i saw someone withdraw their application due to the fees, i am not sure if it was highlighted to him at first but on our end they highlighted it the fees and same amount that he mentioned $2100, for me it aint that bad considering you are establishing your business plus a decent chance of getting PR which means you can live anywhere in the country (except for quebec) compared to student visa with its school fees and no revenue on that investment in the future, just my opinion though.

I am pretty excited on this journey however me and my team are taking a risk as there are still chances of being rejected by IRCC, in line with this perhaps someone had some experience or knowledge in this journey, I was wondering what are the common reason of rejection and if rejected are we allowed to know the reason and perhaps fix the reasons and reapply or for ircc to reconsider?
 
yulie wang

yulie wang

Star Member
Nov 26, 2018
88
5
China
Category........
IF IRCC has question they will ask you to provide more documents,and if they are not satisfied about the documents,then you will have the chance to be rejected
 
J

Jhitomedia

Full Member
Nov 3, 2020
27
4
yulie wang said:
IF IRCC has question they will ask you to provide more documents,and if they are not satisfied about the documents,then you will have the chance to be rejected
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this is highly noted and thanks for the update, do u have sample scenarios what are those additional documents?
 
J

Jhitomedia

Full Member
Nov 3, 2020
27
4
hussain573 said:
Just accepted by Manitoba Accelerator under SUV Programm, Need to pay incubator fees then they will issue letter of support, My concern is should go with MAT or look for anyother incubator, need suggestions, should accept the offer and do the payment.
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Hi hussain573
Did you go ahead with the Manitoba accelerator?
Would like to know about the experience and I hope we can connect.
 
T

tonylad

Newbie
Jun 14, 2022
1
0
hussain573 said:
Just accepted by Manitoba Accelerator under SUV Programm, Need to pay incubator fees then they will issue letter of support, My concern is should go with MAT or look for anyother incubator, need suggestions, should accept the offer and do the payment.
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hi buddy, did you join MTA?
 
C

cooolideal

Hero Member
Jul 2, 2014
802
53
SUV- Successful Candidate said:
Hi
i just joined the Forum.
I am a successful Startup Visa Candidate.
Got the Commitment letter in 2019, work permit in 2020 & got my PR in 2021.
I have an legitimate business, and since my success have helped many fellow entrepreneurs and skilled professionals.
If anyone needs to know the first hand information, am happy to help.:)
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Thanks....I want to start the process...can u plz guide from where I can start?
I have more than 10 years of professional experience but no business experience...
 
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