Designated Organizations for the Start-Up Visa Program

Designated Organizations for the Start-Up Visa Program

Entrepreneurs in the Start-Up Visa Program must get a letter of support from a designated organization. A designated organization is a business group approved by the Minister of Immigration, Refugees and Citizenship to invest in or support possible start-up businesses through the Start-up Visa Program.

Designated organizations develop their own process for receiving proposals from immigrant entrepreneurs. They also develop their own criteria to assess them in order to find potential immigrant entrepreneurs. Designated organizations may ask the applicants to present their business idea in person or submit a detailed business plan.

There are three types of designated organizations and each has their own requirements.

1- Venture Capital Funds

A venture capital fund is a private organization which raises and manages capital to place equity investments in start-ups with high growth potential. Venture capital funds are limited partnerships that have a fund of pooled investment capital to invest in a number of companies.

Venture capital funds help entrepreneurs with operational experience, technical knowledge, networks, and mentorship.  They are required to make a minimum investment of $200,000 into the business they wish to support.

2- Angel Investor Groups

Angel investor groups are made up of members who invest their own capital in start-ups, usually in exchange for equity. Angel investor groups help their members in a variety of ways, which can include identifying investment opportunities, pooling their capital, and standardizing the investment process for angel investors. They must make a minimum investment of $75,000 into the business they select to support.

3- Business Incubators

Business Incubators help start-ups grow by offering a range of services, such as physical space, and facilities, capital, and business mentoring. Applicants must be accepted into a designated Canadian business incubator program. Getting into these programs is a competitive process with limited spots available. Business Incubators must accept the immigrant entrepreneurs into one of their incubation/acceleration programs.

The list of designated organizations approved to participate in the start-up visa program can be found at

https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/start-visa/designated-organizations.html

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