Ottawa steps up International Tech start-ups by investing $3M in Ontario

Key Aspects of start-ups in Ontario:

• Ottawa has become Canada's largest high-tech city, invested $3 million in the past week
• 375 foreign entrepreneurs received Canadian permanent residence through the Country's Start-up Visa program
• LatAm Startups, a non-profit organization that supports the expansion of the Canadian markets
• Ottawa to invite 555 new permanent residents by the end of 2022

Overview:

Over the past few years, Ottawa has become Canada's largest high-tech city. It invested $3 million in the past week into an Ontario business incubator's network to promote the start-up businesses of the international entrepreneurs and help them obtain permanent residence in Canada.

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Ottawa to invest $3 million in Ontario

The Federal capital city of Canada is Ottawa, and the name is derived from the Algonquin word Adawe, meaning "to trade." Over the past years, Ottawa has become Canada's largest high-tech city, invested $3 million in the past week into an Ontario business incubator's network to promote the start-up businesses of the international entrepreneurs and help them obtain permanent residence in Canada.

"The importance of global business attraction and its role in recovering the economic development of Canada is recognized by our government," stated Helena Jaczek, the Minister. She is responsible for the Federal Economic Agency for Southern Ontario.

"The investment in Today's LatAm Startups will support the businesses and entrepreneurs to produce ground breaking solutions and develop in southern Ontario while providing good jobs for the understated Canadians and supporting the economy." *You may also read information on the draw... Ottawa breaks PNP record with latest Express Entry draw

375 Foreign Entrepreneurs were invited by the Start-up Visa Program in Canada, 2021

In 2021, 375 foreign entrepreneurs received Canadian permanent residence through the Country's Start-up Visa program. At the same time, 185 foreign nationals were welcomed in the first four months, and we look forward to inviting 555 new permanent residents by the end of 2022.

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Canada Start-up Visa Program

The Start-up Visa Program aims to recruit talented entrepreneurs who want to dive into the world of entrepreneurship and acquire permanent residency in Canada. This is to put them in touch with the private sector businesses in Canada, such as venture capital funds or business incubators and angel investor groups, and promote the establishment of their start-up business in Canada.

LatAm Partners with three Economic Development Organizations

LatAm Startups is a non-profit organization that helps expand Canadian markets and works exclusively with International startups.

The non-profit staff includes people with disabilities, racialized individuals along with invisible and episodic disabilities, 2SLGBTQ+, and gender and sexually diverse individuals.

LatAm has decided to use the money to promote the business startup programs and make the international entrepreneurs eligible to partner with three of the regional economic development organizations

• Haltech in the Halton region,
• Innovation Factory in Hamilton, and
• TechPlace in Burlington

The programs will directly target health and life sciences, cleantech, and manufacturing sectors and support foreign entrepreneurs to receive access to networking opportunities, tailored business advisory services, culture coaching, Gender-based Analysis Plus training, and local market insight.

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About the programs

The Federal Economic Development Agency for Southern Ontario states that the program will help 100 new international businesses with 180 job openings. This results in 100 intellectual property registrations and produces $50 million in revenues, along with $5 million from cleantech sales.

The application for the first group of foreign entrepreneurs to the program is accepted until Saturday, June 25, 2022, and the program will begin in July.

*For more information, check out the Y-Axis blog page…

LatAm Startups strengthen the local economy and promote resilient southern Ontario as the advancement toward economic development is continued. The project creates secure jobs for Canadians and provides international entrepreneurs looking to establish themselves with the tools they require to succeed.

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