Canada’s stable economy and thriving startup culture make it the perfect place to start a company. For this reason, many entrepreneurs have moved to Canada to create startups. Such entrepreneurs typically immigrate using the Startup Visa Canada program.
The Canadian Government initially launched this program in April 2013 to attract entrepreneurs who could build successful startups and create jobs for Canadians. Canada’s Startup Visa Program had a slow start, receiving only 113 applications during its first three years as a pilot program despite hoping to attract 6,000. However, due to its low-cost and innovative approach, it was eventually welcomed by the Canadian business community, leading it to become a permanent part of Canada’s immigration system in 2018.
The good news for entrepreneurs is that the startup visa program has historically accepted around 80% of applications, making it a reliable pathway to citizenship. Canada offers high government support for businesses, low business tax rates, and ample programs to support immigrant dreams, making it an attractive destination for aspiring entrepreneurs. In this guide, we have highlighted 6 successful tech startups under the start-up visa Canada.
1. Klue
Klue is a software company that utilizes AI to help businesses gather and analyze market insights. The company’s expertise lies in collecting and analyzing data from various sources and then delivering it to its clients in a way that is easy to understand and act upon. By using digital channels such as social media, email marketing, and other online platforms, the company is able to reach a wide audience with valuable insights and information.
The company was founded in Vancouver in 2015 by Sarathy Naicker, who came to Canada through the Startup Visa program.
The startup received funding from OMERS Ventures, BDC Venture Capital, Vancouver Founder Fund, SK Ventures, and Pallasite Ventures and managed to raise $4 million in the capital within just two years of launching.
The company won the Company of the Year in the BC Tech Association’s Technology Impact Awards’ Growth Success category in 2020. They also won the Tech Culture of the Year award at the same awards events in 2021.
Image Credits: Klue
2. ApplyBoard
A shining example of success through the Startup Visa Program, ApplyBoard was founded by the Basiri brothers – Martin, Massi, and Meti, who migrated from Iran to Canada. This EdTech unicorn has revolutionized the education sector with its unique online platform that simplifies the application process for students worldwide. The platform allows students to apply to multiple institutions simultaneously through a standardized application process. ApplyBoard has assisted over 150,000+ students in their quest for quality education.
In a testament to its rapid growth and potential, ApplyBoard has recently raised a staggering US$230 million in financing, led by the Ontario Teachers’ Pension Plan. This funding round has catapulted ApplyBoard’s valuation to an impressive US$3 billion, making it one of the fastest-growing technology companies in Canada.
ApplyBoard’s success story inspires aspiring entrepreneurs worldwide. It showcases the opportunities offered by Canada’s Startup Visa Program, which invites global innovators to establish their businesses in one of the world’s most diverse and welcoming countries.
Image Credits: ApplyBoard
3. Clearpath Robotics
Clearpath Robotics is a Canadian company specializing in developing and manufacturing self-driving vehicles and industrial robotics. Founded in 2009 by four University of Waterloo graduates, it is a leader in these fields.
Clearpath notably became the first robotics company globally to pledge not to produce lethal autonomous weapons or “killer robots.” They received $14 million in funding from RRE Ventures in 2015 and additional funding from iNovia Capital and Caterpillar Inc in 2016.
One of Clearpath Robotics’ notable products is the Grizzly RUV, a rugged and versatile mobile robot designed for use in harsh environments. The robot can be equipped with various payloads, such as sensors, cameras, and manipulators, making it suitable for a wide range of applications.
Image Credits: Clearpath Robotics
4. Fable Tech Labs
Fable Tech Labs is a Canadian startup known for developing a unique ” Fable ” app that helps people create and share audio stories. The startup’s founder, Alwar Pillai, immigrated to Canada through the Canada Start-Up Visa and launched the company in 2018.
5. Daisy Intelligence
Daisy Intelligence is a Toronto-based artificial intelligence startup that provides data-driven insights for businesses. The company’s CEO, Gary Saarenvirta, launched Daisy Intelligence in 2003 with the goal of helping businesses analyze large quantities of data and use insights to make smarter and more efficient decisions.
Daisy Intelligence has raised over $13.5 million in funding through five funding rounds. This includes $10 million in a single funding round in 2019. The company won the Best AI Company of the Year award in 2019 at the Canadian FinTech & AI Awards.
From Startup Visa to Permanent Residency in Canada
6. Trellis
Trellis is an eCommerce advertising software used by many leading brands on online marketplaces such as Walmart, Google Shopping, and Amazon. The company was launched in 2019 and recently introduced a 4P platform for sellers on Amazon.
It is s a cloud-based software platform designed to help small and medium-sized businesses (SMBs) streamline their supply chain operations. The platform offers a range of features, including inventory management, order fulfillment, and analytics, to help businesses optimize their supply chain processes and improve efficiency.
Best Time to Apply for Startup Visa is Now
As part of Canada’s plan to increase immigration levels to half a million new permanent residents per year by 2025, the government has set an ambitious target of receiving 6,000 business immigrants per year through the startup visa program and the self-employed immigration program. This represents an increase of over 1,500% from the number of immigrants using these programs to enter Canada in 2021.
To apply for the startup visa program, applicants need an eligible business, the sponsorship of an established organization, and a good command of English or French. They also need to demonstrate enough annual revenue to fund their new life, over $20,371 for a family of three.
Overall, Canada’s startup visa program is an excellent opportunity for entrepreneurs looking to immigrate and start a business. Prospective applicants should consider seeking the guidance of an immigration consultant to navigate the application process.
Get Professional Help with Your Canadian PR Application
Apply for Canadian PR with the Help of Licensed RCIC Experts.
Need Help?
If you’re interested in moving to Canada and starting a successful startup like the companies described in the above list, consider reaching out to Elaar Immigration. Our experienced Regulated Canadian Immigration Consultants are familiar with the entrepreneur visa in Canada and its requirements. They also possess plenty of business experience and can guide you in setting up your startup in Canada. Make your dream of starting a successful company in Canada a reality with Elaar Immigration’s assistance.
