On June 27th, 2023, Sean Fraser, the Minister of Immigration, Refugees and Citizenship, announced Canada’s new Tech Talent Strategy. The primary goal is to continue drawing visionary and talented individuals who can position Canada as the global front runner in emerging technologies. A pivotal component of this new strategy involves strategic modifications to the Start-up Visa (SUV) Program.
The Start-up Visa program serves as a pathway to achieving Permanent Residence status in Canada. It caters to those with viable business ideas, accepted by designated organizations, enabling them to nurture and establish their ventures within Canada and ultimately secure Canadian permanent residency. Entrepreneurs endorsed by a designated partner organization can acquire a temporary work permit, allowing them to start their business activities in Canada while the Permanent Residence application is in progress. Noteworthy designated organizations include venture capital firms, angel investor groups, and business incubators.
The adjustments to the SUV program have been devised to harmonize the program with the pragmatic demands of entrepreneurship and the adaptability essential to realizing one’s vision.

These include the following:

• Increased availability – the program is tripling its numbers in 2023 to approximately 3500 with further increases in 2024 and 2025;
• Work Permits will be issued for three years, SUV applicants will be able to apply for a work permit valid for up to three years, instead of the current one-year duration– this will allow for longer term business planning and a larger variety of financing options;
• Work permits will be issued as open instead of one that is specific to their own start-up business– this will allow the company to restructure and change as it grows without concerns for updating work permits and provides capacity for supplemental income if needed;
• The new three-year open work permit will be available to each member of the entrepreneurial team, rather than only to those who are essential and urgently needed in Canada.
• Applications that are supported by venture capital, angel investor groups and business incubators that have committed capital to the start-up business, as well as applications that are supported by business incubators who are members of will be given priority processing.

These amendments to the SUV program are scheduled for implementation later this year and are integral to a more comprehensive digital talent strategy. In the global competition to allure premier tech talent, Canada is steadfastly enhancing its appeal, with the Ministry orchestrating requisite measures to further this objective.