FAQs

- Qualification requires a viable business idea, a Letter of Support from a designated Canadian organization (venture capital fund, angel investor group, or business incubator), proficiency in English or French, and sufficient funds for living expenses in Canada until your business becomes profitable.

- Angel investors provide personal finances and expertise for early-stage startups, venture capital funds invest larger amounts from pooled resources for high-growth potential businesses, and incubators offer services like office space and management training to nurture new ventures.

- Start with a comprehensive business plan, secure support from a designated organization, receive a Letter of Support, and submit your application with the required documents and fees. Your application will be reviewed for a decision.

- A minimum Canadian Language Benchmark (CLB) of 5 in English or French is required. However, at the time of obtaining the LOS, CLB or IELTS is not required.

- An essential person is key to the business, identified by the designated organization. If this individual's application is denied, it will affect the entire team's applications.

- While no minimum investment is required, securing a letter of support from a designated organization typically necessitates significant capital investment into your venture.