Innovation

U.S. Jealous of Canada's New Start-Up Visa Program

Venture capitalists and politicians in the United States lament the lack of action in their country to fix what many consider a broken immigration system

Written by mira.shenker@profit.rogers.com

Canada’s Start-Up Visa program is launching today and, according to the Toronto Star, it’s the envy of many a U.S. politician and lobbyist.

The pilot program was put in place to help foreign entrepreneurs coming to Canada connect with investors and mentors to help build their businesses. With a focus on tech, the program is meant to create jobs, which in turn boosts the economy.

While we are very happy to beat our American neighbours to the punch, the work is not over.

According to the Star‘s Debra Black, venture capitalists and politicians in the United States lament the lack of action in their country to fix what many consider a broken immigration system. Previous attempts to develop a similar program in the U.S. have so far failed, including one that currently is stalled in Congress, notes Black.

But Startup Visa Canada isn’t satisfied just to have been first, it wants to be best. “While we are very happy to beat our American neighbours to the punch, the work is not over,” says Danny Robinson with startupvisa.ca. “It is now up to the incubators, accelerators, angels and VCs to attract and  encourage the most talented entrepreneurs around the world to choose Canada as the best place to start and build their companies. After all, Canada has a lot to offer entrepreneurs including Universal Health care, a multi-cultural society, strong economy and is just a short flight away to thriving American tech hubs like NY or Silicon Valley.”

Originally appeared on PROFITguide.com