How does the startup visa work ?

[mheat]

If you want to start a company in Canada, you should receive a letter of support from a venture capital firm or an angel investor, which basically means that they should invest around 200k in your startup, right ? But venture capitalists and angel investors want an ownership stake or equity in exchange for the money they give you. But how do you give them an ownership stake or equity, when you haven't started your company yet (because you don't have the visa yet) ?

One more question: Is there a minimum educational requirement for the startup visa ?

 

[scylla]

You need to have a strong enough business idea and business plan to get the support of venture capitalists and angel investors before you've actually started the business.

The minimum educational requirements used to be post-secondary. I don't know if that's still the case.

 

[mheat]

You need to have a strong enough business idea and business plan to get the support of venture capitalists and angel investors before you've actually started the business.

The minimum educational requirements used to be post-secondary. I don't know if that's still the case.

Yes, but I mean where do they actually put they money ? Because a letter of support means investing 200K right ?

About the second question: But now on the Government of Canada there is nothing about the minimum educational requirement for the startup visa. Did they remove that requirement ?

 

[scylla]

Yes, but I mean where do they actually put they money ? Because a letter of support means investing 200K right ?

About the second question: But now on the Government of Canada there is nothing about the minimum educational requirement for the startup visa. Did they remove that requirement ?

A letter of support is a commitment to invest - not an actual investment.

I've already answered the second question as best as I can. I have no further info I can provide.

 

[mheat]

A letter of support is a commitment to invest - not an actual investment.

I've already answered the second question as best as I can. I have no further info I can provide.

Thank you. So basically in that letter of support, the investor is saying that once you start the company he will invest in it ?

 

[wounderful]

What basically incubators do provide as they are not providing investments. And If the applicant has to fulfill the financial for startup its company in Canada (i.e. apart from financial support as per No. of family members)

 

[wounderful]

hi, please share what incubators do with my start up in financial side

 

[Mauchan]

Yes,

there is nothing about the minimum educational requirement for the startup visa. Did they remove that requirement ?

Yes, they removed that requirement.

 

[mhkash]

Hi,
does anyone know how long the processing time takes? I am eligible for BC PNP (paper based) and also I have the letter of support for my startup company. I know BC PNP takes almost 18 months, but I could not find anything for startup visa program. Which way is faster?
Thanks for your advice.