Start Up Visa Program
NBIF helps entrepreneurs globally launch innovative ventures in Canada through funding, job creation, and a pathway to permanent residency via the Start-Up Visa Program.
The incubator and accelerator program aims to provide comprehensive support, guidance, and resources to immigrant entrepreneurs participating in the Start Up Visa program. The program is divided into multiple phases, each focusing on different aspects of business development and growth. The curriculum consists of various workshops, mentoring sessions, and networking opportunities, allowing participants to gain essential knowledge and skills required to succeed in their entrepreneurial journey.
Here’s what you can expect when going through the Start-Up visa program. Additionally, throughout the program, you will also receive:
One-on-one mentoring sessions with experienced business professionals, investors, and industry experts.
Networking events and workshops for creating connections and partnerships Access to a shared workspace and necessary infrastructure.
Legal advisory support for immigration-related, contractual, and intellectual property matters
Regular progress reviews and milestone tracking
Peer learning and support through group discussions and forums
- Introduction to the Start Up Visa program and its requirements
- Understanding the local startup ecosystem and market
- Ideation and validation of business ideas
- Legal and financial considerations for immigrant entrepreneurs
- Market research and competitive analysis
- Developing a business model canvas
- Pitching and communication skills training
- Customer segmentation and identification of target market
- Developing a minimum viable product (MVP)
- Iterative product development and validation
- Creating a comprehensive business plan
- Building a strong value proposition
- Intellectual property rights and protection
- Introduction to lean startup methodologies
- Different types of funding and investment opportunities
- Preparing investor-ready financial projections
- Crafting a compelling investor pitch deck
- Investor pitch practice and feedback sessions
- Building relationships with angel investors, venture capitalists, and other funding sources
- Negotiation and term sheet understanding
- Team building and recruitment strategies
- Operational and project management best practices
- Developing a scalable business model
- Marketing and branding strategies
- Customer acquisition and retention strategies
- Financial management and accounting systems
- Leveraging technology and digital tools for growth
- Building partnerships and strategic alliances
- Scaling strategies and implementation
- International market entry strategies
- Global business development and expansion
- Export/import regulations and compliance
- Managing cross-cultural teams and communication
- Scaling through mergers and acquisitions
- Building a sustainable and socially responsible business
The eligibility criteria to be accepted into the IRCC’s Start Up Visa (SUV) incubator program are as follows:
Letter of Support from a “Designated Organization”: The applicant must secure a Letter of Support from a designated Canadian business incubator organization. This letter acts as proof of acceptance into the incubator program and confirms that the applicant’s business venture meets the requirements for participation. NBIF follows a due diligence process before issuing the Letter of Support.
Comprehensive Business Plan: The applicant must provide a comprehensive business plan that demonstrates the potential of their business venture and outlines its detailed operation. The business plan should cover aspects such as market analysis, competitive analysis, marketing strategy, financial projections, and growth potential.
Financial Viability: The incubator program requires applicants to have sufficient financial resources to support themselves and their families during their stay in Canada. The applicant must provide evidence of their financial capacity to cover living expenses, accommodation, and other costs.
The applicant should be committed to building and growing their business in Canada, to contribute to the Canadian economy and create employment opportunities for Canadians.
By providing immigrant entrepreneurs with this comprehensive curriculum, the program aims to empower them with the knowledge, skills, and networks necessary to launch successful businesses, contribute to the local economy, and ultimately secure permanent residency through the Start Up Visa program.
Graduates of the NBIF Incubator and the Start-Up Visa (SUV) program have several opportunities in store. These opportunities include:
Permanent Residency in Canada: One of the significant benefits of the SUV program is that successful graduates become eligible to apply for permanent residency in Canada. This allows them to establish their businesses and settle in the country on a long-term basis.
Access to Canadian Markets: Canada provides access to a robust and diverse market. Graduates of the SUV program can take advantage of this opportunity to tap into the Canadian market and reach a broad customer base. This can lead to increased sales, revenue, and business growth.
Networking and Mentorship: By being part of the SUV program, entrepreneurs gain access to an extensive network of experienced mentors, industry experts, and successful entrepreneurs. These connections can provide invaluable guidance, advice, and support to help graduates navigate the Canadian business landscape and overcome challenges.
Funding and Investment Opportunities: The NBIF Incubator and the SUV program often offer access to funding opportunities, either directly through the incubator or through connections with investors and venture capitalists. This can help graduates secure the necessary capital to expand their business operations, invest in research and development, or scale their ventures.
Business Development Support: The SUV program and the NBIF Incubator provide ongoing support and resources to help graduates develop and grow their businesses. This support may include access to office space, infrastructure, legal and accounting services, marketing assistance, and training programs. These resources can significantly enhance the chances of success for the graduates.
Collaboration and Partnerships: The incubator environment fosters collaboration and opportunities for partnerships among entrepreneurs. Graduates can connect and collaborate with like-minded individuals and businesses, leading to potential joint ventures, strategic alliances, and shared resources.
Exposure to Innovation Ecosystem: Being part of an incubator program exposes entrepreneurs to the broader Canadian innovation ecosystem. By participating in events, conferences, and industry-specific activities, graduates can gain knowledge, exposure, and visibility within the Canadian business community.
Overall, the combination of permanent residency, access to Canadian markets, networking, funding, support services, collaboration, and exposure to the innovation ecosystem provides significant opportunities for graduates of the NBIF Incubator and the Start-Up Visa program to thrive and succeed in Canada.
NBIF’s offers a highly competitive fee structure. It includes our Start-Up Visa Incubation Program for International Entrepreneurs in addition to our value-added basket of services and investment program. Fees depend on the number of participants per company and other factors. Once the applicant meets the basic eligibility criteria for the program and the needs assessed, we provide a contractual agreement, which includes our fees.