How to secure a letter of support from a
designated organization and establish
your business in Canada
How to secure a letter of support from a designated organization and establish your business in Canada
The Canadian Start-Up Visa Program offers a gateway for innovative entrepreneurs to establish their businesses in Canada. It seeks individuals with groundbreaking business ideas that can create jobs and compete globally. If your venture secures support from a designated organization, you could be on your path to not only business success but also permanent residency in Canada. Discover more in-depth details below.
Disclaimer: LeanZiX does not engage in the practice of immigration law or offer immigration services. LeanZiX’s services are solely focused on business documentation and do not include legal opinions, legal advice, or any other form of immigration assistance.
A startup is a young company born out of a desire to solve a specific problem or bring a unique solution to market. It’s characterized by its innovation, scalability, and growth potential.
A startup is a human institution designed to deliver a new product or service under extreme uncertainty.
The Canadian Startup Visa not only welcomes established entrepreneurs but is also a promising path for individuals with a few years of work experience, whether as self-employed professionals or employees. If you have a track record of business acumen, innovative thinking, and the skills to contribute to Canada’s dynamic economy, this program offers an excellent opportunity. It’s an ideal platform for those who may not yet have launched their own startup but possess the potential and the drive to develop a business idea that can create jobs and compete on a global stage. This program provides a unique chance for aspiring business leaders to turn their visions into reality, all while paving the way for permanent residency in one of the world’s most diverse and economically stable countries.
Innovative and Viable Business Proposition
Secured Support from Designated Canadian Entities
Ownership & Language Requirement
Sufficient Financial Capability for Settlement
From 2015 to 2020, the success rate for the Canada Startup Visa Program had its ups and downs. After hitting a high of 100% in 2016, there was a drop in 2017 with approvals at 64%. But since 2018, the rate has held steady at 80% each year. On average, about 80% of applications have been approved over these years. We at LeanZiX will update our info with new data from canada.ca as it comes out to keep you in the loop.
The chart, "Canada Startup Visa Nationality Distribution," shows where applicants for Canada’s Startup Visa came from between 2014 and 2020. A mix of many countries, including China, Vietnam, India, and Iran, highlights Canada's pull as a hotspot for new businesses. The rise of applicants from Iran in 2020 and the strong presence of Vietnamese entrepreneurs in 2015 stand out. This information, gathered from canada.ca and IRCC, reflects the worldwide reach of Canada's entrepreneurial opportunities, brought to you by LeanZiX.
Designated organizations are business groups approved by the Canadian government to invest in or support possible startups. Their support is crucial as it validates the viability and potential of the applicant’s business idea. This support can be in the form of investment, mentorship, or acceptance into a business incubator program.
While your business idea doesn’t necessarily need to be a first-of-its-kind, it should be innovative and offer competitive value in the market. It should also meet the criteria set by the designated organizations.
The Startup Visa Program does not require your business to succeed. Once you are a permanent resident, your status is not dependent on the success of your business.
Yes, up to five people can apply as owners of a single business. However, each applicant must hold at least 10% of the voting rights in the business, and the designated organization and the applicants must jointly hold more than 50% of the voting rights.
Apart from the initial support from a designated organization, Canada offers a supportive ecosystem for startups, including access to additional funding, mentorship programs, and a network of fellow entrepreneurs and advisors.
LeanZiX is your steadfast partner on the journey to securing a Canadian Startup Visa and beyond. We’ve outlined a roadmap that not only leads to obtaining a letter of support from a designated organization but also encompasses comprehensive support for your business establishment. From the early requirements of business registration and brand development to the finer points of market entry, marketing strategies, digital presence, and product development, LeanZiX is committed to being by your side every step of the way.
Below, we’ve charted the milestones from initial exploration to securing the
and applying for
Once the ‘Letter of Support’ is secured, the startup team can proceed to apply for Canadian Permanent Residency and an optional Work Permit.
The cost structure for the Startup Visa program is divided into four key phases. The first, the Startup Visa Journey Blueprint, encompasses initial expenses from business idea enhancement to developing a detailed business plan. The second phase, Designated Organization Endorsement & Services Fee, covers the costs of obtaining the necessary endorsement and services from a designated organization.
The third phase, the Application Processing Fee, accounts for the expenses related to the Canadian immigration application process. Finally, the fourth phase, Innovative Product Realization and Market Integration, involves costs associated with developing prototype and your Minimum Viable Product (MVP) achieving product-market fit, and other crucial steps in product development and market entry. For a comprehensive breakdown of the costs associated with each phase, please take a look at the detailed information provided below.
In this phase LeanZiX not only establishes a solid foundation for your venture in Canada but also offers cost-effective solutions. While a quick market search reveals that provider costs for this phase can range from $50k to over $200k for a team, at LeanZiX, we prioritize delivering high-quality services at very competitive prices. Understanding the diverse needs of our clients, we offer customized packages that significantly reduce the total cost, ensuring affordability without compromising on the value and effectiveness of our services. LeanZiX is committed to providing an efficient and economical pathway for your startup's success in the Startup Visa program.
The second phase involves a crucial cost of $40K (CAD) per team. This covers the issuance of the Letter of Support for your Startup Visa application and access to essential incubator resources. These services include tailored seminars, workshops, expert advice, networking events, and potential discounts from preferred service providers. Additionally, you'll benefit from the use of designated business premises and, for Canada-based clients, hotdesk access. This phase equips you with the tools and connections vital for nurturing and expanding your startup in the Canadian ecosystem.
The third phase pertains to the costs associated with the actual Canadian Startup Visa application. As per the fee list on canada.ca, these expenses range from over $CAN 2,000 to $CAN 5,000, varying based on the number of family members included in the applicant's application. Additionally, if you opt for the expertise of an immigration consultant to manage your application process, you should also consider their professional fees. This phase ensures that all the formalities related to your immigration process are handled efficiently, with costs reflective of the comprehensive nature of the service and the size of the applicant’s family.
In this phase, the journey within the Startup Visa Program extends beyond obtaining the letter of support and submitting the immigration application. This critical phase emphasizes the importance of actively developing your product and integrating it into the market. It's essential to demonstrate continuous progress in your startup's evolution. At LeanZiX, we understand that this stage is crucial for meeting the SUV program's requirements and for the overall success of your venture. Our team of experts is dedicated to providing you with the necessary guidance and support, ensuring that your startup not only adheres to the program's criteria but also achieves significant growth and market presence.
At LeanZiX, we pride ourselves on offering quality services at competitive prices. Our strategic use of resources for various business needs, including business idea development, business plan creation, and digital presence, allows for cost-effective solutions. This approach not only reduces prices but also ensures high-quality, integrated services. Our efficient operations enable us to pass savings directly to our clients, making our suite of services both top-tier and affordable. LeanZiX is committed to supporting startups from inception to market entry, focusing on value without financial strain. With us, entrepreneurs gain a partner dedicated to providing professional support that’s both accessible and budget-friendly.
Explore Eligibility for Startup Visa
Background & Resume Enhancement
Business Idea Development
Market Research
Business Plan
Due Diligence Documents Prepration
DO Application Assistance
Business Pitching
Interview Prepration & Training
Brand Identity Design
Website Development
Social Media Management
Business Registration
Business Email Setup
Office Address & Phone Number
Product Development & Mrket Integration
LeanZiX offers end-to-end support for your Canadian Startup Visa journey, from eligibility assessment to business establishment. We assist in idea development, market research, business planning, and application submission, ensuring a smooth transition to launching and growing your business in Canada. With LeanZiX, your entrepreneurial vision is nurtured every step of the way.
Begin your entrepreneurial journey by evaluating your eligibility for the Canadian Startup Visa Program. We'll guide you through the criteria, ensuring you meet the necessary requirements for a successful application.
Transform your innovative ideas into a solid business concept. If you don't have a specific idea in mind, we can help you seed potential ideas based on your background and interests. Our experts work closely with you to refine and develop these ideas, shaping them into a compelling and viable business plan.
Gain a significant competitive edge through the power of in-depth market research. At LeanZiX, we're here to guide you through a comprehensive exploration of your target audience, competitive landscape, and evolving market trends to empower you to make well-informed decisions and strategic choices for your startup,
Create a robust business plan detailing your vision, strategies, and financial projections with our expert guidance. Our dedicated team helps you craft a customized roadmap that aligns precisely with your startup's unique requirements and goals.
Prepare the necessary due diligence documents to meet program requirements. We ensure all paperwork is meticulously organized and submitted accurately and on time.
Navigate the complexities of the application process with confidence. LeanZiX provides expert guidance, helping you compile and submit a complete and compelling application to the designated organization. Our goal is to make the journey from the initial idea to securing the letter of support a smooth and successful one.
Refine your presentation skills and craft a compelling business pitch that leaves a lasting impression on designated organizations. At LeanZiX, we go beyond mere assistance – we provide expert coaching and training to help you eloquently convey your entrepreneurial vision, ensuring that your pitch shines brilliantly.
From the initial steps of your startup visa journey to the moment when the Letter of Support from a designated organization is secured, LeanZiX is your steadfast companion. We guide you through every phase of the process, ensuring your entrepreneurial dream becomes a reality.
From business registration and brand identity design to website development and social media presence, LeanZiX handles all aspects of your startup's establishment. We ensure a seamless and efficient process, so you can focus on your core business activities.
At LeanZiX, our support extends into the crucial stages of product development and market integration, vital for the peer review process of the Canadian Startup Visa Program. We assist in honing your go-to-market strategies and product evolution, ensuring your startup demonstrates the continuous progress necessary for both meeting program requirements and achieving significant market presence. Our team is dedicated to guiding you through every step, making sure your business aligns with the program’s criteria and is well-prepared for the peer review, paving the way for your venture’s success in Canada.
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Simply click the ‘Get Started’ button and answer a few brief questions to begin.
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After submitting the form, you’ll receive a link to book a 30-minute virtual coffee chat with our team, where we’ll discuss your personalized journey to Canada through startup visa program.
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During our chat, we’ll explore how to secure a letter of support and turn your aspirations for Canadian residency into reality, all while ensuring the process remains cost-effective.
© LeanZiX Ottawa 2024
Venture Capital Funds
Professional groups that manage pooled funds from many investors to invest in start-ups and small businesses. They usually come in when you have a proven business model and are looking to scale, not in the very early stages of your business.
Minimum Required Investment: $200,0000
Angel Investors
Typically, individual investors or groups of individuals provide capital for a business start-up, usually in exchange for convertible debt or ownership equity. In the startup context, an “angel” investor similarly acts as a guardian or saviour, providing funding during the risky early stages.
Minimum Required Investment: $75,000
Business Incubators
Organizations geared toward speeding up the growth and success of start-ups and early-stage companies. They often offer workspaces, mentorship, and sometimes initial funding.
Minimum Required Investment: Zero
Designated Organizations
Venture Capital Funds
Angel Investors
Business Incubators
Nature
Professional groups that manage pooled funds from many investors to invest in start-ups and small businesses. They usually come in when you have a proven business model and are looking to scale, not in the very early stages of your business.
Typically, individual investors or groups of individuals provide capital for a business start-up, usually in exchange for convertible debt or ownership equity. In the startup context, an “angel” investor similarly acts as a guardian or saviour, providing funding during the risky early stages.
Organizations geared toward speeding up the growth and success of start-ups and early-stage companies. They often offer workspaces, mentorship, and sometimes initial funding.
Minimum Required Investment
$200,0000
$75,000
0
