Canadians in favour of a strong tech start-up visa

When polled 72% of Canadians stated that Canada needs to stay ahead of the US in attracting entrepreneurial talent and two-thirds of Canadians (66%) think the US have the right idea with the Start-up Visa Bill. *

The Canadian start-up visa campaign wants to upgrade the immigration program to make it easier for people who want to create science and technology companies in Canada by reducing the funding needed to enter the country on the conditions that they have Canadian investors and create new jobs within a couple of years.

Eric Brooke, a campaign spokesperson  “The end result should be more jobs for Canadians, stronger economic growth and a larger number of science and technology companies in Canada both large and small”

“There is a opportunity here for Canada to get ahead of the game, as the US political system does not seem to have the collective will to take this issue by the throat and encourage technology or science entrepreneurs from other countries to create businesses and jobs in the US.

Boris Wertz, an investor and co-founder of GrowLab “ Its worth remembering that 52.3%** of start-ups in the Silicon Valley are founded by immigrants, with an effective start-up-visa program maybe we can convince foreign entrepreneurs and job creators to build their companies here in Canada instead of the US.  We are already falling behind countries like Chile, Singapore and Britain who have already upgraded their programs, but I believe we can learn from their programs and make ours better.”

One of Canada’s’ leading venture capital associations (CVCA) is onboard with the idea. “The direct experience of a number of our member funds that have been launched by immigrants in Canada; these funds have made enormous contributions to our industry as well as to portfolio companies and to the economic well-being of Canada” said Chris Arsenault, Director at CVCA “Our belief that we must promote a culture of entrepreneurship in order to successfully compete in the new global economy; Canada can become a beacon, attracting the best and the brightest from across the globe”

Danny Robinson, BC Innovation Council member, Entrepreneur and investor believes there is an opportunity for the provinces to step up. “It seems to me there is a possibility for one of the provinces to create a pilot using their Provincial Nominee Program (PnP).  I believe the province that upgrades their PnP first will be able to pick the best entrepreneurs. ”

Notes

In a poll conducted by Vision Critical conducted on the Angus Reid Forum, earlier this year the following results were found:-

  1. A large majority of Canadians believe Canada could become a real hub of entrepreneurial activity in North America with the right policies in place (86%) and 72% think Canada needs to stay ahead of the US in attracting entrepreneurial talent.
  2. Two-thirds of Canadians (66%) think the US have the right idea with the Start-up Visa Bill being introduced, with 72% agreeing that it will attract entrepreneurs to the States and 70% seeing that there could even be a risk of attracting Canadian talent as a result.
  3. Just over two-thirds (68%) would support a Start-up Visa being introduced in Canada. (Almost three-quarters of those with University upwards education, 74%)
    1. The majority of Canadians agree that securing Canadian investment is a reasonable alternative to requiring large sums of money in personal funds, and approaching half, 44%, realise that most start-up entrepreneurs would not have $300,000 in personal funds as per current requirements.
    2. Half of those with university education upward agree that current processing times are too long.
    3. Three-quarters of Canadians believe that the entrepreneur should retain at least a third of the equity in the business.

** 52.3% is from the following report page 10 table 4

 

 

 

 

 

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I’m deeply curious, love to learn, insightful about people and their psychological makeup, deft at communication, excel at networking, deeply tech-savvy and relish growing others through education and leadership. I am a developer, marketeer, gamer, lover of water slides and ice cream :-)

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3 comments on “Canadians in favour of a strong tech start-up visa
  1. factchecker2000 says:

    I know who is clammoring for more visas and these are the folks that wrecked our labor pool, our economy, and our most interesting and lucrative professions. Please take them. Take all of them. Before the mass invasion of H-1Bs and the other alphabet soup visas, we were the unchallenged technology, engineering,, science and innovation leader of the world. Now we are nosediving in these areas. What changed? Guestworker visas. So many that companies were firing our own folk and replacing them with guestworkers, which was never supposed to happen. Wait till you see what happens in a department or a company after the tipping point. We have. They sure do promise the sun, moon and stars, don’t they? Two words for our northern neighbors, before it’s too late for you like it seems to be for us: due diligence.

  2. Wakjob Dunfor says:

    Ummm….. You can have all of America’s 3rd world immigrants. They have basically ruined the US economy.

  3. civisidedotcom says:

    Ironically, I am a Canadian entrepreneur who went to Chile as part of the Start-Up Chile program. I left Canada because Chile offered the only funding I could get for CiviSide.com. Now that I have this $40K grant I can leverage it to get enough investment to prove our revenue model. Having tried to get the financial resources in Canada, I can say that a Start-Up Visa without a comparable cash investment like Start-Up Chile does will fall flat for most entrepreneurs. I don’t see most international entrepreneurs choosing Canada without financial inducement. Chile has the right idea, if Canada wants to become a start-up hub for international entrepreneurs it would be wise to follow their lead.

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