Citizenship and Immigration Canada has announced that it will be launching a new pilot program on April 1, 2013 for entrepreneurs and investors focussed on linking applicants to private sector venture capital groups in Canada.
Successful applicants will require the support of either Canada’s Venture Capital & Private Equity Association (CVCA) or the National Angel Capital Association (NACO) in order to be eligible for the program.
According to Citizenship and Immigration Canada, the new program “will provide entrepreneurs with valuable assistance in navigating the Canadian business environment” and “will enable immigrant entrepreneurs to launch innovative companies that will create jobs in Canada.”
The program provides a new option for entrepreneurs seeking to apply for permanent residence to Canada after new applications to Canada’s previous Federal Entrepreneurial Program were put on moratorium in July 2011.
For additional information, please contact Green and Spiegel.