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Ministerial Instructions Respecting the Start-up Business Class, 2013-2

Validated finding · five-country-2010-20260922-v118-evidence-presentation-fix

CountryCanada
Operative dateOctober 26, 2013

Policy effect

Replaced the initial April 2013 Start-up Business Class instructions to expand eligible designated entities to include business incubators, permitting foreign entrepreneur applicants to qualify by securing acceptance into a designated business incubator program (in addition to venture capital funds and angel investor groups).

Conditions and exceptions

Validated condition or limit: Replaced the initial April 2013 Start-up Business Class instructions to expand eligible designated entities to include business incubators, permitting foreign entrepreneur applicants to qualify by securing acceptance into a designated business incubator program (in addition to venture capital funds and angel investor groups).

Official source excerpt

Quoted verbatim from the official source below. Ellipses indicate omitted text.

Science and innovation Topics menu Canada.ca Canada Gazette Publications Part I: Vol. 147 (2013) October 26, 2013 Canada Gazette, Part I, Volume 147, Number 43: GOVERNMENT NOTICES October 26, 2013 DEPARTMENT OF CITIZENSHIP AND IMMIGRATION IMMIGRATION AND REFUGEE PROTECTION ACT Ministerial Instructions Respecting the Start-up Business Class, 2013-2 The Minister of Citizenship and Immigration, pursuant to section 14.1 (see footnote a) of the Immigration and Refugee Protection Act (see footnote b), gives the annexed Ministerial Instructions Respecting the Start-up Business Class, 2013-2. Ottawa, October … business” means a business that meets the requirements of section 7. “Regulations” « Règlement » “Regulations” means the Immigration and Refugee Protection Regulations. Establishment of start-up business class 2. (1) The start-up business class is established as part of the economic class referred to in subsection 12(2) of the Act and consists of foreign nationals who have the ability to become economically established in Canada and meet the requirements of this section. Member of class (2) An applicant is a member of the start-up business class if they (a) have obtained a commitment from (i) a designated business incubator confirming that it is accepting the applicant’s qualifying business into its business incubator program, (ii) a designated angel investor group confirming that it is investing at least $75,000 in the applicant’s qualifying business or two or more designated angel investor groups confirming that they are together investing a total of at least $75,000 in that business, or (iii) a designated venture capital fund confirming that it is investing at least $200,000 in the applicant’s qualifying business or two or more designated venture capital funds confirming that they are … For the purposes of these Instructions, (a) the entities set out in Schedule 1 are designated as business incubators; (b) the entities set out in Schedule 2 are designated as angel investor groups; and (c) the entities set out in Schedule 3 are designated as venture capital funds. Status of entities 5. For greater certainty, a business incubator, an angel investor group or a venture capital fund designated under section 4 is considered not to be under the control of the Minister in respect of any matter relating to these Instructions. Form of commitment 6. (1) A commitment must be in a written … law partner, $550; and (c) in respect of a family member of the principal applicant who is less than 22 years of age and is not a spouse or common-law partner, $150. Non-application 14. (1) The following provisions of the Regulations do not apply to the start-up business class: (a) sections 108 and 109; and (b) paragraph 295(1)(c). Application of section 107 of Regulations (2) Section 107 of the Regulations applies to the start-up business class, with such modifications as the circumstances require. Repeal 15. The Ministerial Instructions Respecting the Start-up Business Class, published in the … Canada Gazette, Part Ⅰ, on March 30, 2013 are repealed. Effective period 16. These Instructions have effect during the period beginning on October 26, 2013 and ending on March 31, 2018. SCHEDULE 1 (Paragraph 4(a)) DESIGNATED BUSINESS INCUBATORS Communitech GrowLab Innovacorp Innovate Calgary Toronto Business Development Centre (TBDC) SCHEDULE 2 (Paragraph 4(b)) DESIGNATED ANGEL INVESTOR GROUPS Angel One Network Inc. First Angel Network Association Golden Triangle Angel Network SCHEDULE 3 (Paragraph 4(c)) DESIGNATED VENTURE CAPITAL FUNDS Advantage Growth (No.2) L.P. BDC Venture Capital Blackberry …
Canada GazetteDepartment of Citizenship and Immigration / Canada Gazette, Part IOpen official source
Retrieved from https://gazette.gc.ca/rp-pr/p1/2013/2013-10-26/html/notice-avis-eng.html

Review method

Two separate automated exact-claim source reviews

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Other Canada changes operative in 2013