What’s the Latest Development?
On Thursday the Canadian government announced that on April 1 it will launch its Start-Up Visa program, which will “link international entrepreneurs with private sector organizations…that have experience working with startups to provide essential resources.” People who meet the qualifications (a full list of which will be available this spring) will receive permanent residency status and immediate access to business partners, putting them and their fledgling companies on the fast track towards success. The program is expected to run up to five years, and depending on its success, the government may formally introduce it as a new economic class of individuals who may qualify for immigration.
What’s the Big Idea?
It’s the first of its kind in Canada, and the focus is on economic competition, says government minister Jason Kenney: “Jobs, growth and long-term prosperity remain priorities…[and the Start-Up Visa program] underscores our commitment to supporting innovation and entrepreneurship in the Canadian labour market.” The government will get help with finding eligible business resources from venture capital and business incubator organizations.
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