CanadaLife in CanadaOntarioSettle in CanadaJune 24, 2022by prominent.contentOttawa commits $3 million to support international technology start-ups in Ontario

International digital start-ups in Ontario: Highlights
  • Last week, Ottawa contributed $3 million to assist multinational businesses in obtaining permanent residency.
  • In 2021, 375 foreign entrepreneurs will become permanent residents.
  • Through the Start-up Visa Program, 185 entrepreneurs became permanent citizens in the first four months of 2022.
  • This initiative is expected to welcome 555 new entrepreneurs by the end of 2022.

Ottawa just committed $3 million in a network of business incubators. This investment was provided to assist entrepreneurs in obtaining permanent residency. 375 foreign entrepreneurs were granted permanent residency status last year.

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In 2022, there will be a start-up visa programme

185 candidates were granted permanent resident status in the first four months of 2022. By the end of this year, the government intends to welcome 555 new entrepreneurs as permanent residents of Canada. The purpose of the start-up visa programme is to attract entrepreneurs and assist them in obtaining permanent status. The programme will also assist entrepreneurs in connecting with private sector businesses in Canada. Among these companies are:

  • Angel investor organizations
  • Funds for venture capital
  • Incubators for small businesses


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These businesses will assist young entrepreneurs in establishing their start-up businesses in Canada. The selected venture capital fund must attest that a $200,000 investment has been made in the new start-up business.

Candidates will also be able to qualify if they have received two or more commitments from specified venture capital funds. A total of $200,000 should be invested. The angel investor group must make a minimum investment of $75,000 in the qualifying enterprise.

Do you want to invest in Canada’s start-up programme? Contact Prominent Overseas Careers the world’s leading foreign immigration specialist.

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