Are you a skilled entrepreneur looking for new opportunities abroad? Well, maybe the Canadian Start-up Visa program is exactly what you’re looking for. The Start-up program is a fantastic system created by the Government of Canada to spur innovation, build new industries, and share knowledge. This is also a great path towards permanent residency for those looking for a change of surroundings.
Applicants in this program are required to partner with a variety of preapproved organizations. Such as, venture capital funds, angel investor groups, and business incubators. This helps for a stronger and more reliable foundation to build from.
Who can apply?
There are four requirements for the Start-up Visa program. These are,
- have a qualifying business
- get a letter of support from a designated organization
- meet the language requirements
- bring enough money to settle
What is a qualifying business? Up to 5 people can apply as owners, each holding at least 10% of the company. However, you, other owners, and the partnering organization must hold at least 51% of the company. In addition, the start-up must be incorporated in Canada, and you provide active and ongoing management of this business from within Canada.
A letter of support from a designated organization refers to the previously mentioned list of “preapproved organizations”. Each applicant must pitch their business idea to these organizations to convince them that the business idea is worth supporting. If you pass, the organization will send a commitment certificate directly to the immigration office dealing with your case.
Further more there are two more minor requirements, language and money to settle. Both of which are very important for any new business in Canada.
*Language: “You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all of these four areas: speaking, reading, listening, and writing.
*Personal funds: For a individual, the initial amount of required funds are $12,960, $16,135 for a couple (2 people), $19,836 for three, and $24,083 for a family of four. The required funds increase from here. If you’d like to learn more you can contact us through the link.
Designated Organizations
The following table is a complete list of designated organizations, including contact information, and a brief description of each.
Venture Capital Funds | Location | Details | Contact Info |
BDC Venture Capital | Montreal, QC | Have multiple investment funds, such as Women in Technology, Industrial Innovation, Industrial/Clean and Energy Technology, Fund Investments, IT, Healthcare. Don’t own more than 49% of a company’s shares. | F 604-666-1068 T 1-888-463-6232 |
Innovation Platform Capital International LP | Langley, BC | Support healthcare, education, infrastructure, energy, finance, manufacturing and distribution, technology, | Application form |
BCF Ventures | saskatoon | looks to invest in fintech startups that are developing technologies that respond to the changing and complex needs of financial institutions, particularly with regards to big data analysis, artificial intelligence and cloud computing | info@bcfventures.vc |
iNovia Capital Inc. | Montreal/Toronto | Their goal is healthier people and communities, with greater access to knowledge, skills, and the world itself. | Application form |
Real Ventures | Montreal/Toronto | The firm backs early-stage Canada-based founders building innovative tech companies that will have large-scale positive impacts on society. | Application form |
Celtic House Venture Partners | n/a | n/a | cory@celtic.vc |
Nova Scotia Innovation Corporation (o/a Innovacorp) | Nova Scotia | fund and foster innovative Nova Scotia start-ups that strive to change the world. Target industries include information technology, clean technology, life sciences and ocean technology. | info@innovacorp.ca |
Westcap Management Ltd. | Saskatoon | Support such sectors as Agriculture, Healthcare, Hospitality, Infrastructure, Innovation | info@westcapmgt.ca |
Golden Venture Partners Fund, LP | Toronto, ON | They like bold teams and their transformative ideas | Application form |
Impression Ventures | Toronto, ON | Like fintech companies challenging the status quo, only back startups that are changing the bread and butter of the financial services industry. Whether it is supporting financial transactions, making insurance products more accessible, or helping consumers make better financial choices. | info@impressionventures.com |
York Entrepreneurship Development Institute (YEDI) VC Fund | Toronto, ON | All accepted applicants must become residents of one of YEDI’s Business Acceleration Campuses for a minimum of 12 months, upon arrival to Canada. Must have an innovative idea or early stage business in order to apply and the business must launch in Ontario upon landing | info@yedinstitute.org |
PRIVEQ Capital Funds | Toronto, Ontario | Must include bussiness plan, 5 years of historical financial statements; | (416) 447-3330 |
Extreme Venture Partners LLP | Toronto, Ontario | Focused on Mobile, Data & Analytics, or Internet of Things. | hello@extreme.tech |
Relay Ventures | Toronto/Calgary | Support such industries as : mobility, fintech, proptech, sportstech | toronto@relayventures.com/ calgary@relayventures.com |
ScaleUp Venture Partners, Inc. | Toronto/Vancouver | n/a | n/a |
Vanedge Capital Limited Partnership | Vancouver | Areas of focus: Analytics, Hard Tech, Computational Biology | info@vanedgecapital.com |
Version One Ventures | Vancouver | n/a | angela@versionone.vc / boris@versionone.vc |
Top Renergy Inc. | Vancouver | focus on the following industries: renewable energy, manufacturing, information technology, wholesale and retail, education, and innovative technologies. | incubator@toprenergy.com. |
7 Gate Ventures | Vancouver/San Francisco | Look for Innovative companies along the technology vertical, with a focus on Enterprise Software, Marketplaces, HealthTech and Medical Devices. | If you don’t request for Letter of Support, but you have an SUV-related proposal like partnership or co-investment, you can write to SUV@7gate.vc. |
Lumira Ventures | Vancouver/Toronto/Montreal | Sectors: Biotechnology, medical technologies, digital health and consumer healthcare solutions | 604.558.5156 |
Yaletown Venture Partners Inc. | Vancouver/Toronto/Montreal | Invest in software, data and device technologies disrupting and modernizing traditional industries, services, real estate, and infrastructure. | info@yaletown.com |
Angel investor groups | Location | Details | Contact Info |
Golden Triangle Angel Network | Cambridge, ON | The only thing that will compel them to invest their own money in your company is a clear, concise and well-supported business case that can lead to growth in the business and a return to the investors. | info@gtan.ca |
Canadian International Angel Investors | Halifax, Nova Scotia | In order to qualify, the business must meet the following criteria: The business owns a technology, The technology enables a new or unique solution to a particular problem, The technology will provide value to potential customers well beyond the cost of the technology, The market for purchasing the technology is significant, There is a viable strategy for protecting the IP associated with the technology. | cic@cicnova.ns.ca |
Ekagrata Inc. | n/a | Invest into a broad range of industries and sectors over the years such as business services, specialty retail, food processing and infrastructure, consumer packaged goods, media and entertainment including broadcasting, communications and technology and heavy industrial including oil and gas. | Application form |
Oak Mason Investments Inc. | n/a | n/a | Application form |
Keiretsu Forum Canada | Ontario | Eligibility requirements for the Start-up Visa Program: – have a qualifying business – have a letter of support from a designated organization – meet the language requirements, and – have enough money to settle and live in Canada before you make money from your business. Keiretsu Forum Start-Up Visa process can help with the first two requirements. | https://keiretsuforum.ca/startupvisa/app/ |
York Angel Investors Inc. | Ontario | Invest in early-stage startups primarily in the following areas: B2B AND B2C, SAAS, IOT & ICT INDUSTRIAL AUTOMATION, FINTECH, INSURE, TEACH CPG CLEANTECH HEALTH TECH MARKETPLACE SOLUTIONS | Application form |
Southeastern Ontario Angel Network | Ontario | Support the early-stage organizations and individuals who provide patient risk capital, expert advice, and professional networks when traditional financial and other institutions cannot. | michael.tkautz@soangels.ca |
TenX Angel Investors Inc. | Vancouver | “WE ARE LOOKING ONLY AT COMPANIES THAT HAVE A PRODUCT OFFERING/SOLUTION WITH A CUSTOMER THE APPLICANT/ENTREPRENEUR MUST HAVE THE CAPITAL REQUIRED NEED TO RUN THE BUSINESS FOR AT LEAST 18 MONTHS PRIOR TO OUR INVESTMENT WE ONLY RESPOND TO THOSE THAT WE CAN COMMIT TO MOST SHOULD NOT EXPECT YOU WILL HEAR BACK FROM US” | ADMIN@TENX.BIZ |
VANTEC Angel Network Inc. | Vancouver | n/a | Application form |
Business incubators | Location | Details | Contact Info |
Platform Calgary | Calgary | Qualifications: Have a validated business model; Demonstrate strategic value in bringing the company to Calgary (i.e.: closer to key customers, suppliers, distributors, and/or channel partners); Have a clear plan on how to grow your business in Calgary, for the next 2+ years; Have sufficient funds to carry the company and your family through the next 2+ years; Have the ability to create jobs for Canadians | Application form |
Knowledge Park o/a Planet Hatch | Fredericton, NB | only accept businesses in the Knowledge Industry (IT, cybersecurity, biotechnology and life sciences, aerospace and defence, advanced manufacturing and design or clean technology). | info@planethatch.com / appplication form |
Innovacorp | Halifax, Nova Scotia | Target sectors include information technology, clean technology, life sciences and ocean technology. Especially interested in deep technology opportunities, which is define as technology based on a scientific discovery or new engineering innovation. Must be based in Nova Scotia | info@innovacorp.ca |
Genesis Centre | Newfounland & Labrador | Qualifications: Have less than $1M in annual revenues; Have developed a minimum viable product; Have gotten traction in the market (i.e. sales, users, etc.); Have completed Genesis’ Evolution program or an approved equivalent program; Are willing to live and work in Newfoundland & Labrador | Application form |
Interactive Niagara Media Cluster o/a Innovate Niagara | Niagra Falls, ON | Qualifications: product or business is in the tech industry; individual owns the Intellectual Property for your product; business venture is in the growth stage, and has a minimum of $CAD150,000 in revenue in the past 2 years | Application form |
York Entrepreneurship Development Institute | North York, ON | targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that: -are innovative -can create jobs for Canadians -can compete on a global scale All accepted applicants must become residents of one of YEDI’s Business Acceleration Campuses for a minimum of 12 months, upon arrival to Canada. | info@yedinstitute.org |
Spark Commercialization and Innovation Centre | Oshawa, ON | Qualifications: Applicant is willing to live and work in Durham Region area of Ontario; Ownership of a business that is generating revenue that is scalable, sustainable, and in the sector of technology and innovation; Submission of Business Plan, LinkedIn Profile(s), CV/Resume(s), Demo Video; The business is financially self-sustaining | Application form |
Invest Ottawa | Ottawa | n/a | Application form |
LaunchPad PEI Inc. | Prince Edward Island | a non-profit incubator that supports the growth of new technology companies in Prince Edward Island, Canada | inquiry@launchpadpei.com |
Millworks Centre for Entrepreneurship | Sault St. Marie, ON | Must be new knowledge-based product and/or service– The business proposition must be a unique technology product and/or service that cannot be easily duplicated. In addition, the business must be passed the idea stage and have a working prototype. The entrepreneur must demonstrate early technology validation and/or customer traction. | Application form |
Extreme Innovations | Toronto | Support extreme innovations | info@extremeinnovations.com |
LatAm Startups | Toronto | Must be a Technology company with intellectual property | Contact@LatAmStartups.org |
Toronto Business Development Centre (TBDC) | Toronto | Qualifications: must demonstrate potential viability from both a financial & market perspective; Incorporate in Ontario after acceptance into the SUV program; must have access to sufficient working capital to meet the initial needs in the market; clearly articulate the market opportunity for your product/service. | info@tbdc.com |
Highline BETA Inc. | Toronto/Vancouver/Montreal | Current Areas: FinTech, InsurTech, CPG, Sustainability and Smart Cities innovations | Application form |
Creative Destruction Lab | Vancouver | Support 15 streams: Agriculture, Artificial Inteligence, Blockchain, Climate, Commerce, Energy, Health, Matter, Oceans, Prime, Quamtum, Recovery, Risk, Space, Supply Chain | info@creativedestructionlab.com / cdl-west@creativedestructionlab.com |
Empowered Startups Ltd. | Vancouver | n/a | Application form |
Launch Academy – Vancouver | Vancouver | Primarily work with companies in the following emerging tech sectors: ML/AI, VR/AR, Blockchain, Financial Services, Data Science, Quantum Computing, Health Tech, CyberSecurity, and SaaS. | info@launchacademy.ca |
Spring Activator | Vancouver | Qualifications: company is purpose-driven, for-profit, and focused on having a positive impact on people and/or the planet; the goal is to maximize market opportunity and impact as a for-profit entity: must demonstrate that the vision will be best served by moving permanently to Canada | Application form |
Alacrity Foundation | Victoria, BC | promote technological entrepreneurship and facilitate regionalized investment opportunities. | suv@alacritycanada.com |
VIATEC | Victoria, BC | Tech industry | Application form |
Waterloo Accelerator Centre | Waterloo, Ontario | Accelerator Centre requires Startup Visa applicants to meet the following criteria: - $100,000 in revenue in the past two years and strong growth potential; -Established IP or strong proprietary technology or business model; -A committed founding team; -A clear understanding and desire to grow a business in Canada | info@acceleratorcentre.com |
Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator) | Winnipeg, Manitoba | n/a | mring@mbtechaccelerator.com |
Alberta Agriculture and Forestry | |||
Agrivalue Processing Business Incubator | |||
Food Processing Development Centre |
How to apply
Applications usually take any from 12 to 16 months. At the beginning there are three steps, the application package, fees, and submitting your application. Within these are, medical exams, police certificates, and language testing.
However, our team at Taraz Services will take care of you every step of the way. We offer services in accounting, business planning, as well as immigration and recruitment. This means that through every step, from the creation of the business plan, to the hiring of employee, we have you covered.
Feel free to drop by, give us a call, or send us an email if you are interested in applying for the Canadian Start-up Visa.