A $3 million contribution for startups in Canada announced for Ontario

Highlights of start-ups in Canada

• A significant new announcement was made for southern Ontario to help startups in Canada.
• A $3 million contribution was announced for global startups in Canada in southern Ontario.
• The LatAm startups will involve the tech sector which will get to run business and create jobs.
• The scope of services includes networking opportunities, business advice, and GBA+ training.

It’s a great time for foreign nationals to think beyond work and establish startups in Canada. The Government of Canada has always committed itself to the cause of promoting the growth of international entrepreneurs.  The government facilitates the development of their businesses. These entrepreneurs are major contributors to the Canadian economy as they lead the country with innovation, especially in the area of technology.

A big announcement for startups in Canada

The LatAm Startups Conference was held lately on behalf of the Minister for the Federal Economic Development Agency for Southern Ontario, Helena Jaczek. At this conference, Julie Dzerowicz, Member of Parliament for Davenport, made a huge announcement.

It was announced that a non-repayable contribution of more than $3 million will be made for LatAm Startups so that they can scale a business support network with the purpose of helping international technology start-ups to incorporate, carry out business, and generate jobs in southern Ontario.

*Know your eligibility to immigrate to Canada through Y-Axis Canada Immigration Points Calculator.

Economic development

LatAm has partnered with 3 regional economic development organizations to deliver startup programs. These organizations are:

• Haltech (Halton Region)
• TechPlace (Burlington)
• Innovation Factory (Hamilton)

Read more... Aiming for a record immigrant count via Canada Startup Visa program in 2022

Canada startup programs

Through the startup programs eligible international entrepreneurs in crucial sectors such as:

• Cleantech
• Manufacturing
• Health & life sciences will get many services delivered to them.

These include:

• Tailored business advisory services
• Culture coaching
• Networking opportunities
• Local market insight
• GBA+ training

These services will enable international startup entrepreneurs to commence and grow their enterprises in southern Ontario. With international entrepreneurs establishing startups in Canada, more job opportunities will be created for Canadians. Also, the technology sector of Canada will be strengthened and add points to local supply chains in southern Ontario as well as Canada as a whole.

What’s LatAm startups?

A non-profit accelerator in Toronto, LatAm startups works exclusively with international startups. It’s a designated sponsor for the Startup Visa program in Canada. A pioneer in bringing the world’s top startups to Canada and enabling them to achieve a global scale in business with beginnings in Toronto.

LatAm, a non-profit corporation, was created in 2016. Since 2017, the programs run by LatAm Startups have received 90 startups originating in 20 different countries.

This project will give support to 100 new international businesses. These businesses are expected to:

• Create 180 jobs
• File 100 intellectual property registrations
• Generate $50 million in revenues ($5 million from cleantech sales included)
• Contribute to the commercialization of new clean technologies in southern Ontario

LatAm’s project

The focus of LatAm’s project will be on lending support to traditionally underrepresented groups in the innovation economy. This will be done through the promotion of talents of youth, women, indigenous people, and racialized individuals.

There will be the integration of specialized tools and connecting entrepreneurs with local talent. This will be achieved via partnerships with local community groups as they prepare to work in the region.

Applications for the first cohort of the LatAm program will be received until June 25, 2022.

If you are willing to invest in Canada, talk to Y-Axis, the leading immigration and career consultant in the UAE.

If you find this blog engaging, you may also like:

Canada Express Entry draw: 636 provincially nominated candidates invited