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Presentation by ONEN Consultancy about the "Startup Visa" program of the Canadian Government which enables startups to get funding and move their business to Canada
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Startup Visa Canada
Canada at a Glance
ü Popula4on of 35.295.770 (October 2013) ü 10 states and 3 territories ü Area of 9.984.670 km2 (Area of Turkey: 783.562 km2) ü CPI Annual Infla4on of 1.5% (January 2014)
ü Entrepreneurs and small businesses are the backbone of the Canadian economy
ü There are more than 1 million small businesses that employ 48 per cent of Canada’s total workforce and provide 30% of the total GDP
Canadian Advantage
A welcoming business environment Canada is the best country in the G-‐20 to do business, according to both Forbes and Bloomberg A strong growth record Canada led all G-‐7 countries in economic growth over the past decade (2003–2012) Unparalleled market access Once “Comprehensive Economic and Trade Agreement” (CETA) comes into force, foreign investors in Canada will have assured preferen4al access to both NAFTA and the EU A highly educated workforce Canada’s workforce is the most highly educated among members of the OECD, with half of its working-‐age popula4on having a ter4ary level educa4on.
Canadian Advantage
Low tax rates Canada’s overall marginal effec4ve tax rate is by far the lowest in the G-‐7 -‐ about 17 percentage points lower than that of the United States. Compe==ve R&D environment Canada’s R&D-‐intensive sectors enjoy the lowest costs in the G-‐7, with a cost advantage that is 10.7 per cent lower than that in the U.S. Financial stability For the sixth consecu4ve year, the World Economic Forum has declared Canada’s banking system to be the soundest in the world A great place to invest, work, and live Canada is one of the globally most mul4cultural countries with world-‐class universi4es, a universal health care system and clean and friendly ci4es in addi4on to having the second highest standard of living in the G-‐20, as measured by GDP per capita
Canadian Advantage
Top-‐=er Ecosystems Toronto and Vancouver are ranked among top 10 best ecosystems globally (Startup Genome Project, 2012) Loca=onal Arbitrage
Short haul flights to San Francisco and New England +
Cheap rent, availability of top talent and advantageous tax credits =
Canada is cost-‐effec4ve Quality of Life Free healthcare and educa4on Mul4cultural society
Canadian Business Life
Canada has successful, globally recognized technology and Sojware-‐as-‐a-‐Service (SaaS) start-‐ups which are acquired by top companies Eloqua Marke4ng automa4on and Revenue Performance Management. Has been acquired by Oracle in 2012 for 871M USD Taleo On-‐demand unified talent management solu4ons for organiza4ons around the world to assess, acquire, develop and align their workforce. Has been acquired by Oracle in 2012 for 1.9B USD Radian6 Social Media Monitoring Planorm. Has been acquired by Salesforce in 2011 for 326M USD
Canadian Business Life
Canada is also home to fast growing technology and Sojware-‐as-‐a-‐Service (SaaS) companies
Startup Visa Canada
How it works Gran4ng of permanent residency status condi4onal on receipt of leoer of support from ; i. designated VC ii. angel investor group iii. designated business incubator
Minimum to raise $75,000 from Angel Group $200,000 from VC. There is no set amount of investment required for the incubator stream, but investors can provide funding Addi=onal Requirements Fluency in either English or French One year of post-‐secondary educa4on Sufficient seolement funds ($10K-‐$25K) Security and medical clearance
Startup Visa Canada
Who qualifies? Up to five co-‐founders (and family members) can relocate as long as they own at least 10% of vo4ng rights individually. Program applicants must cumula4vely own shares represen4ng at least 50% of vo4ng rights. Reincorpora=on in Canada Required, but can be done ajer Permanent Residency has been granted. Ci=zenship Eligibility ajer thee years as permanent resident. Success of start-‐up is irrelevant.
Succesful Applica4ons -‐ Zeetl
“As an entrepreneur, I feel more empowered by the Startup Visa Canada program. I can now focus on growing an innovaGve company in Canada to disrupt telecommunicaGon industry world wide instead of worrying about visa applicaGons and extensions for me and my family.”
Ukranian Stanislav Korsei, co-‐founder and CEO of Zeetl
Successful Applica4ons -‐ Retsly
“Canada has done a fantasGc job supporGng entrepreneurs with tax-‐based incenGves. Now that the Business Incubator stream has been introduced, foreign business owners like myself can finally feel secure in calling Vancouver home.“
Joshua Lopour (originally from California)
CEO of Retsly
Successful Applica4ons -‐ Cognilab
“In the highly-‐compeGGve startup environment, entrepreneurs cannot afford to skip a beat. Foreign entrepreneurs growing their companies the US lose valuable Gme dealing with a broken immigraGon process that oRen takes years to complete. Thankfully, Canada gets it – the recently announced Canadian startup visa allows foreign entrepreneurs to easily move their companies and start creaGng jobs in the Canadian economy.”
Jose Barrios (originally from Mexico)
CEO of Cognilab
Pivot to Canada
Cagdas ONEN [email protected]
