Last week our CEO, Rob Douglas, attended a panel discussion hosted by Angel Investors Ontario. The topic was “Streamlining the Start-up Visa Process”.
As many of you are aware, the wait time from receipt of a Letter of Support to receiving permanent residency has ballooned to 30 months or more. According to Rob, the Start-up Visa program was initially designed in 2013 to attract promising entrepreneurs to Canada in return for expedited permanent residency in 6 months – a Nexus pass of sorts!
But over time, due to the popularity of the program, combined with less than adequate applicant screening by some designated organizations, the backlog of unprocessed applications has now grown to an estimated 11,000 cases. Many of these cases do not meet IRCC guidelines of innovation, scalability, and employment of Canadians.
What is the answer to this log jam?
Rob, who has led two designated organizations since the inception of the program in 2013, says that the answer going forward lies in enhanced due diligence by designated organizations to ensure that the candidates being approved for receipt of Letters of Support meet IRCC guidelines. This, combined with a scoring system that will advance the processing of top-drawer candidates first, based on a ranking by “success factors”, will over time lead to a re-alignment of program outcomes with the goals initially established by IRCC.
Roseview’s goal is to not only meet IRCC guidelines but to exceed them by ensuring that, among other things, applicant companies have an MVP, a proven entrepreneurial track record, and the resources to successfully launch a new business in Canada.
Contact Roseview Global Incubator today to learn more about our programs.