September 9th 2024 – After celebrating a decade of existence in 2023, IRCC completed a new evaluation of the Start-up Visa program.  The evaluation report concludes that the SUV Program is aligned with the Government of Canada priorities, is a necessary part of IRCC’s suite of immigration programs, and remains relevant in the face of global economic and migration trends.

IRCC recently introduced a series of changes to the Start-up Visa program with the aim to keep the program attractive to sought-after high potential international innovative entrepreneurs. However, it is worth noting that IRCC decided to maintain the immigration targets of welcoming 5,000 applicants under the federal business category in 2024 and 6,000 respectively in 2025 and 2026, a significant increase from previous years.

Who are they?

According to statistics obtained from IRCC, most SUV applications are from Asia, submitted by married men, aged 30 to 49, and with a university diploma.  The largest number of immigrants under the SUV program come from India (16%), followed closely by China (15%), Vietnam (14%), and Iran (13%).

Business incubators proved to be the most popular type of designated organization, having received 2/3 of all Start-up Visa applications submitted since the creation of the program in 2013. The vast majority of applicants (85%) also indicated that they were satisfied with their incubator or designated entity and 69% reported that it contributed towards the success of their start-up business.

Surveyed designated organizations mentioned to IRCC that the SUV program has encouraged new start-up venture, innovation, and the creation of employment, and has contributed to growing businesses involved mainly in the fields of software, hardware, networks, web-based services, e-commerce, and mobile technology.

IRCC’s survey results also highlight that even when SUV clients are unsuccessful with their first start-up business, they continue to contribute towards Canada’s start-up business sector through another start-up business. The support provided by designated organizations helped to retain SUV entrepreneurs in Canada and launch other start-ups even if their original startup failed.

Furthermore, the survey found that SUV applicants remained active in developing start-ups beyond the completion of their application, with 90% actively participating in at least one start-up, and 27% pursuing more than one.

About Mandeville & Associates Ltd. 

Since 1986, Mandeville & Associates – Immigration Group has been offering consulting services intended for international businesspeople of every continent wishing to settle in the United States of America, Canada, and Europe.

With its head office in Hong Kong and professionals permanently based in the United Kingdom and Canada, Mandeville & Associates – Immigration Group offers a wide range of immigration and consultancy services with a team of specialized lawyers and multilingual immigration experts. Business migration programs, such as the immigrant investor program, start-up visa program, and other residency-by-investment programs, allow the successful applicant, spouse, and dependent children to obtain a residency visa and this status may lead to citizenship with certain conditions.

Mandeville & Associates – Immigration Group provides specialized services to professionals, business incubators, brokers, and immigration consultants recruiting candidates for immigration to the United States of America, Canada, and Europe through business migration programs.