TLDR:
- Canada’s Start-Up Visa program data has revealed that 80% of approvals come from one designated organization type.
- The three designated business organizations are Angel Investment Networks, Business Incubators, and Venture Capital Funds.
After obtaining data from the government through Freedom of Information requests, IMI has analyzed the distribution of applications across the designated organizations for Canada’s Start-Up Visa program. The program, initiated in 2013, aims to bring top talent to Canada by allowing individuals to apply for permanent residency through launching innovative businesses in the country.
While all three types of designated organizations have the same minimum requirements, data shows that Business Incubators have consistently had the highest approval rates throughout the decade, followed by Angel Investment Networks and Venture Capital Funds. Business Incubators have had an average approval rate of 81%, while Angel Investment Networks have an average of 79% and Venture Capital Funds around 4%.
The data also reveals a decline in approval rates for Venture Capital Funds due to higher vetting standards and requirements. The analysis sheds light on the importance of Designated Organizations in the approval process for the Canada Start-Up Visa program.
