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Canada in 5: Canada Slashes Start-up Visa Program for 2024

Canada Slashes Start-up Visa Program for 2024

In a major shift, Canada slashes its Start-up Visa Program for 2024, capping applications and prioritizing Canadian-backed startups. Meanwhile, Manitoba extends temporary status for skilled workers, and Pierre Minkala-Ntadi's novel explores the immigrant experience in the Prairies.

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1. Top Story: Immigrant Entrepreneurs Navigate New Challenges

On April 29, 2024, Canada announced drastic changes to its Start-up Visa Program, significantly reducing the number of accepted applications and prioritizing startups with Canadian funding or support from specific incubators.

Key Takeaways

  • Cap of 10 startups per designated organization, limiting total applications to 840
  • Changes effective April 30, 2024, contrasting previous targets of 3,500+ applications
  • Priority for Canadian-funded startups and Canada's Tech Network incubator members

Start-up Visa Program Caps Applications

Under the new changes, each of the 84 designated venture capital firms, angel investor groups, and business incubators can only support up to 10 startup applications per year. This effectively caps the total number of accepted applications at 840, a stark contrast to the previous targets of 3,500 in 2023 and 5,000 in 2024.

Canada Halts New Applications for Self-Employed Persons Program

Alongside the Start-up Visa Program changes, Canada is completely suspending new application intake for the Self-Employed Persons Program. This pause aims to allow Immigration, Refugees and Citizenship Canada (IRCC) to focus on processing the existing four-year backlog of applications in the arts, culture, and sports-focused program.

What this means for immigrants

The drastic reduction in accepted applications and prioritization of Canadian-backed startups will likely make it more challenging for aspiring immigrant entrepreneurs to secure support from designated organizations.

Those relying on the Self-Employed Persons Program will have to explore alternative immigration pathways or await future program reforms. Immigrants must carefully assess their eligibility and chances of success under these new limitations.

2. Manitoba's Focus: Status Extention for Skilled Workers

Canada has approved Manitoba's request to extend temporary resident status for skilled workers identified under the province's Provincial Nominee Program (PNP). This measure aims to support Manitoba's economy and cultural diversity while transitioning more temporary residents to permanent residence.

  • Manitoba can extend temporary status for 6,700 skilled workers in the PNP pool
  • Eligible foreign nationals are expected to receive nomination and permanent residence within 2 years
  • IRCC is open to exploring similar options with other provinces and territories

3. Success Snapshot: Minkala-Ntadi, from the Parisian dream to the cold of the Prairies 

Pierre Minkala-Ntadi, a published his third novel, "Du rêve parisien au froid des Prairies", in February 2024. The novel tells the story of Adolphe, a young man from Brazzaville, who dreams of Paris but finds himself in the Canadian Prairies after a tragedy. The story explores immigration, identity, and the challenges of adapting to a new life, with a focus on resilience and perseverance.Find Out if You are Eligible to Immigrate to Canada