Notable changes to the Canada Start-Up Visa and Self-Employed Programs.
Immigration Canada has just announced significant adjustments to the Start-Up Visa (SUV) Program and the Self-Employed Program, aimed at reducing application backlogs and improving processing efficiency. Here are the new points to note:
Key Changes:
- Annual application limit : The SUV program will accept no more than 10 startup projects per year from each designated organization, including angel investors, venture capital funds, and business incubators.
- Priority processing : Priority will be given to projects supported by investment capital from Canada or incubators that are members of the Canadian Technology Network.
- Temporary suspension of new applications for the Self-Employed program : This program, for professionals in the fields of Culture and Arts, will temporarily suspend accepting new applications to focus on processing existing applications.
- Duration of application : These new measures will be in effect until 2026.
KeyApply and Ontario Startup Studio 's Assessment and Preparation: Ontario Startup Studio anticipated these changes and always prioritized project quality. The limitations on issuing Letters of Support (LOS) will force designating organizations (DOs) to carefully select only the most outstanding projects. This policy fosters a competition for quality, not just quantity, ensuring that only the most promising projects can advance to the support stage.
For a long time, we have been building a team of top talent in technology and startup training, not only in Canada but also globally. With Ontario Startup Studio, we not only create an environment for project development but also a hub for creativity and innovation.
Advice: With these changes, we encourage our clients and young businesses not to hesitate. Seize this opportunity to participate in one of the world's best startup programs in Canada. Thorough preparation and a high-quality project will be key to success in this competitive environment.
Conclusion: We believe that, while the challenges are significant, this is an opportunity to refine and develop the best projects that deliver real value to both the people and the Canadian economy. Ontario Startup Studio is ready to support you on this journey, from the first step to achieving your ultimate goal.
Contact us for more information and the best support in bringing your project to the world. Be a part of the future today!
