{"id":8576,"date":"2023-07-31T03:30:51","date_gmt":"2023-07-31T03:30:51","guid":{"rendered":"https:\/\/eternainternational.com\/Tcn\/?p=8576"},"modified":"2023-07-31T03:31:11","modified_gmt":"2023-07-31T03:31:11","slug":"canada-start-up-visa-programs-approval-rate-growth-114-monthly","status":"publish","type":"post","link":"https:\/\/eternainternational.com\/Tcn\/canada-start-up-visa-programs-approval-rate-growth-114-monthly\/","title":{"rendered":"Canada Start-Up Visa Program\u2019s Approval Rate Growth 114% Monthly"},"content":{"rendered":"

Canada’s ambitious Immigration Levels Plan targets 465,000 new permanent residents in 2023.\u00a0Recent IRCC data<\/a> reveals immigrants\u2019 amount is rapidly increasing. Overall immigration is surging, with 220,810 newcomers landing in the first 5 months of 2023. The Canada Start-Up Visa (SUV)<\/a> program represents 114% growth month-over-month. In May 2023, Canada welcomed 75 new permanent residents through the SUV program, surpassing 35 in April.<\/p>\n

In the first 5 months of 2023, SUV brought 250 newcomers, up 4.2% over the same period last year. At this rate, SUV could see 600 new permanent residents by the end of this year, exceeding last year’s 575 cases. Since the speech from the former immigration minister Sean Fraser announced earlier, the SUV program target is to increase to 3,500\u00a0PR approval quotas in 2023. Given accelerating uptake, we can expect the monthly number of SUV permanent residents to continue rising through the rest of 2023 and into 2024.<\/p>\n

\"Canada<\/p>\n

Applications supported by venture capital, angel investor groups, and business incubators with committed capital will be prioritized, as well as those backed by business incubators that are members of Canada\u2019s Tech Network.<\/p>\n

The IRCC is going to be looking at, whether applicants have been nominated by a designated incubator that\u2019s being part of this new program. They\u2019ll also be going to put a limit on the number of new candidates that certain designated entities can put forward so IRCC can reduce the pressure on the system and have more reliable timelines going forward.<\/p>\n

The data also shows that British Columbia and Ontario remain the hot spots, receiving 105 and 110 newcomers through SUV so far this year. Alberta, Manitoba, and Nova Scotia are also seeing some uptake.<\/p>\n

\"\"<\/p>\n

Why British Columbia or Ontario is Popular with startups?\u00a0<\/i><\/p>\n