How much does it cost to apply for Innovacorp’s Start-Up Visa Program?
There is no fee to apply to or participate in Innovacorp’s Start-Up Visa Program.
Are there any requirements for applicants?
Applicants must meet the Government of Canada’s start-up visa requirements.
In addition, Innovacorp has criteria for its Start-Up Visa Program. For example, the applicant’s business must be based on a unique technology that cannot be easily duplicated; be past the idea stage and have a working prototype and early technology validation and/or customer traction; and have generated cumulative sales revenue of less than $1 million in the most recent three years.
Will Innovacorp or IRCC cancel my Permanent Residence (PR) status if the start-up fails?
No. We hope your start-up becomes a big success in Nova Scotia, but if it doesn’t, we hope you’ll stay here and do something else amazing.
Aside from the letter of support for a start-up visa, what other support does Innovacorp offer Start-Up Visa Program participants?
We provide incubation space for up to six months, one-on-one support, introductions to investors and business guidance – at no charge.
If Innovacorp doesn’t charge a fee from applicants, why does it run the program?
Innovacorp is a Nova Scotia crown cooperation. We want to transform the province’s economy by making it one of the best places in the world to build a start-up. We believe we will enrich our start-up community by bringing the world’s best start-ups, technologies and founders here.
How long does it take for Innovacorp to issue a letter of support?
It could take anywhere from four months to a year to process. However, we do not guarantee timing since every company that applies is different. For example, a patent review of a medical device company would likely take longer than one for another sector.
Process chart changes: