Today, OINP announced that the Toronto Business Development Centre (TBDC) has been selected to deliver the Ontario Entrepreneur Pilot for two-years. TBDC was selected through a publicly posted competitive request for bids. Moving forward, the TBDC will be working closely with the OINP to develop and launch the pilot.
On December 14, 2021 Ontario announced 2-year project for international entrepreneurs to invite investment outside of the Greater Toronto Area. This project will select 100 international entrepreneurs who wants to start a new business or purchase an existing business outside of the Greater Toronto Area. These areas are the ones that have been hit hard by pandemic.
This new project is under the Entrepreneur Stream of the Ontario Immigrant Nominee Program (OINP). At the time of announcement, OINP enlisted that minimum investment required by the applicants will be $200,000 and Ontario government is aiming at generating $20 million of investment from these 100 entrepreneurs.
This new project is targeted to create more local jobs in the sectors such as information technology, life sciences, and tourism.
TBDC Eligibility
As per TBDC website, The Start-up Visa Program is open to all international businesses that have been incorporated. Start-ups that have generated revenue in the home country, have paying customers and market traction are best suited for this program. TBDC is open to founders from around the world working on solutions that have the potential to build business in Canada, and create jobs for Canadians on a global scale.
Application cost for TBDC is $30,000 CAD and it consists of two steps. First, virtual pre-acceleration which is of two month. Second, six months in-office acceleration.
For any related questions, OINP can be contacted at business.immigration@ontario.ca.
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