Re:Startup Visa coming to Canada April 1st
by hhuio on Thursday January 24, 2013 @04:55PM
(#5112514)
The old visa, which this replaced, was for the self funded startups.....
This one is for the VC...
Re:Startup Visa coming to Canada April 1st
by p-bende88 on Friday January 25, 2013 @11:04AM
(#5116008)
You're thinking of the old Entrepreneur Program, that'd been around since the 1970s.
That program simply facilitated new Canadians to make smaller convenience stores or low-risk ventures at best (smaller, safer enterprises, etc). It's criteria was largely just net worth and business experience. The only path to Canadian permanent residence was the creation of one new job every three or four years.
As you'd guess, it didn't exactly inspire risk takers.
I believe the previous vis was for businesses in general, and not specifically tech startups like this one? Also, that visa required the person coming in to bring their own money to start something.
I hope in time and with success the visa can be expanded to include the present reality in Canada that 98% of startups in Canada are self-funded and don't get or use VC input:
http://www.techvibes.com/blog/how-canadian-entrepreneurs-fin...
For the majority of the startup environment in Canada, this doesn't benefit them right away.
Also interesting -- Small businesses are 98% of businesses in Canada: http://www.cbc.ca/news/business/smallbusiness/story/2011/10/...