The Canadian government announced in October 2015 that Canada wants entrepreneurs. Canada’s Start-Up Visa is the first of its kind in the world, linking immigrant entrepreneurs with experienced private sector organizations that have expertise in working with start-ups. Business and entrepreneur immigrants can help support Canada's economic growth, according to a May 2017 report from The Conference Board of Canada: Entrepreneur and Investor Immigration: Creating Jobs and Growth, discussed at the Conference Board of Canada's 3rd annual Canadian Immigration Summit in Ottawa on May 9-10, 2017, with the goal to help strengthen business immigration's role in spurring Canada's economic development.
Report author Kareem El-Assal believes one of Canada’s greatest global competitive advantages is its openness to newcomers:
- Canada needs immigrants
- Canada has 40 years of business immigration experience
- Business immigrants want to come to Canada
Highlights of the report include:
- Entrepreneur and investor immigration can support Canada's economic development priorities, including building infrastructure, driving innovation, and attracting foreign direct investment and talent.
- Enhancing matchmaking opportunities could help draw a greater number of highly talented entrepreneurs to Canada to launch innovative and globally-competitive businesses. It could also improve efforts to succeed retiring Canadian business owners.
- A new federal immigrant investor program could draw more foreign capital to Canada but it would require strict monitoring and enforcement to ensure it benefits the economy and is supported by the Canadian public.
- Providing entrepreneurs and investors with more supports could help them become more successful business persons in Canada.
According to Craig Alexander, Senior Vice-President and Chief Economist, "as other countries are becoming less welcoming to newcomers, Canada can position itself to reap greater economic benefits from entrepreneur and investor immigration in the future by opening its doors to more foreign talent."
"Immigrant investor programs can raise capital for under-funded areas such as infrastructure, affordable housing, and venture capital," reports Forbes.
