June 15, 2012

New Entrepreneur Program on the Horizon?

Both federal immigrant entrepreneur programs are currently closed as CIC evaluates how to encourage further innovation.

More reliance on Ministerial Instructions can be expected since one of the challenges being faced is trying to draft criteria into regulations

A service delivery model has not been decided upon but the plan is to introduce a new entrepreneur program with the following elements:

–          draws upon private sector input;

–          opens the door to younger entrepreneurs that are willing to take risks;

–          places less emphasis on net worth and measurable results within a fixed time-frame, with more emphasis on skills; and

–          creates key entry points where Canadian venture capital, business accelerators/ incubators and angel investors have endorsed candidates.

It is anticipated that numbers will be in the hundreds rather than the thousands and will focus on those business types with the greatest growth potential.