Businesses started up by immigrants or their children account for more than a third of Canada\u2019s entrepreneurship \u2013 and those immigrant-owned businesses tend to grow faster and create more jobs, reports the Innovation Economy Council.<\/p>\n
In Relocation Nation: How Immigrant Tech Founders Boost Canadian Innovation<\/i>, the organization reports these immigrants and their children create 34.7 per cent of all start-ups in Canada.<\/p>\n
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Canada Start-Up Visa: How You Could Immigrate To Canada In 2022<\/a><\/span> That\u2019s a bigger chunk of Canada\u2019s start-up ecosystem fueled by immigrants than in most economies in the European Union, G7 or G20 countries.<\/p>\n \u201cImmigrant-owned firms in Canada are younger on average than those owned by Canadian-born entrepreneurs, which means they tend to grow faster and have higher rates of job creation,\u201d notes the Innovation Economy Council in that report.<\/p>\n \u201cAlso, research has shown that immigrant-owned businesses are more likely to enter global markets and that immigrant entrepreneurs \u2018can mobilize their diverse socio-cultural networks in helping to overcome market-size limitation and commercialize innovations in the world market, either through export or transnational new ventures.\u2019\u201d<\/p>\n Immigration, Refugees and Citizenship Canada (IRCC) figures show 455 new permanent residents settled in Canada through Entrepreneur<\/span><\/a> or Start-Up Visa<\/span><\/a> (SUV) programs last year.\u00a0<\/span><\/p>\n The Innovation Economy Council thinks Canada should be doing more to attract entrepreneurs from around the world.<\/p>\n \u201cGiven their disproportionate economic potential, we need to work to attract and retain the most promising immigrant entrepreneurs and their ventures,\u201d states the organization\u2019s report. \u201cWith Canadian help and resources, they can scale up, attract capital and create jobs here for the benefit of all.\u201d<\/p>\n Watch<\/b><\/p>\n
\nCanada\u2019s Start-Up Visa: What is a Venture Capital Fund?<\/span><\/a>
\nCanada\u2019s Start-Up Visa: What is an Angel Investor Group?<\/span><\/a><\/span><\/p>\n
\nStart-Up and Entrepreneur Programs Welcome 455 New Permanent Residents<\/h3>\n
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