“Canada is open for business to the world’s start-up entrepreneurs,” said Citizenship and Immigration Minister Jason Kenney. “Innovation and entrepreneurship are essential drivers of the Canadian economy. That is why we are actively recruiting foreign entrepreneurs – those who can build companies here in Canada that will create new jobs, spur economic growth and compete on a global scale – with our new start-up visa.”

The program will grant Canadian permanent residency to successful applicants. In addition to being granted residency, they will be linked to Canadian business partners with expertise in the realm of entrepreneurship in Canada. Two umbrella organizations have been designated to identify Canadian partner groups. They are Canada’s Venture Capital and Private Equity Association (CVCA) and the National Angel Capital Organization (NACO).