Canada will introduce new visa for aspiring entrepreneurs
The Canadian immigration minister Jason Kenney will travel to Silicon Valley this weekend.
His goal will be to try to tempt high-tech entrepreneurs to apply for a Canadian visa program that could see their business dreams become a reality, as in the popular TV show The Dragon’s Den.
In the show, which has been shown in more than 40 countries worldwide, entrepreneurs with a business idea who need funds to develop their business, give a presentation to four wealthy businessmen known as ‘The Dragons’.
If one or more of the Dragons like a business plan, he or she (or they) will offer investment capital in return for a share in the business
Mr Kenney will tell young entrepreneurs that if they want to relocate to Canada they may receive financial backing from Canadian venture funds as well as a permanent residence for the country.
In January this year, Mr Kenney announced that Canada will launch a new type of visa for aspiring entrepreneurs.
The aim of the new visa will be to unite international entrepreneurs, who have promising business plans with Canadian venture capital firms that can finance their ideas.
Potential candidates will present their ideas in front of the investors, who will decide where to invest.
If any candidate manages to attract enough investment he/she will receive a permanent Canadian visa.
In order to receive the visa entrepreneurs must meet additional requirements as well.
They must be proficient in either English or French, in addition to that they must have completed at least one year of post-secondary education.
Mr Kenney will seek to persuade tech-workers from around the world who are frustrated at their failure to get a US visa that if they cannot work in the US, they should try moving to Canada instead.
There will be fast processing times for the new visa which Canada hopes will make the start-up visa an attractive option for entrepreneurs.