the CanadaVisa Team - 21 October, 2013
Business incubators provide entrepreneurs with mentorship and support in finding investors and growing their business. The Business Incubator stream will link successful applicants to business incubators in Canada. It is the third stream to be created under the Entrepreneur Start-Up Visa Program. The program already includes streams that connect applicants to venture capital funds and angel investment groups.
“As part of our government’s focus on jobs, growth and long-term prosperity, it is critical for Canada to attract the best entrepreneurs and innovators from around the world,” said Minister Alexander. “This new stream will partner Canada partner Canada’s world class business incubators with immigrant entrepreneurs, driving growth and placing Canada ahead of its competitors in the global economy of the 21st century.”
Business incubator organizations that are eligible to partner with immigrants under this immigration program will be chosen by the government, in consultation with the Canadian Association of Business Incubation (CABI).
The Entrepreneur Start-Up Visa program is a five-year pilot project that began accepting applications in 2013. In addition to introducing the business incubator stream, Minister Alexander also announced that an additional five Canadian venture capital funds will soon be added to the list of eligible partners under this program.