NACO administers the business incubator stream and angel group stream of the Immigration, Refugees and Citizenship Canada (“IRCC”) Start-up Visa program by designating leading angel groups and incubators/accelerators across the country to participate.
Angel groups, incubators and accelerators designated to participate under the program will be able to provide supported immigrant entrepreneurs with access to an expedited immigration process. The process is intended to allow for the expedited migration of foreign-owned businesses looking to operate in Canada by providing up to five (5) founders or core team members with a permanent residency, provided that they meet the criteria established under the program and IRCC's requirements for immigration.
Please consult the Government of Canada’s official website for the Start-up Visa Program here.
Success Story
Study Abroad EdTech ApplyBoard Triples Valuation To $3.2 Billion With $300 Million Fundraise
ApplyBoard
This Ontario, Canada-based company has raised a $300 million Series D at a $3.2 billion post-money valuation. The round was led by the Ontario Teachers’ Pension Plan Board and existing investors Fidelity Management & Research, Harmonic, Index Ventures, Garage Capital and Blue Cloud Ventures, and brings the company’s total funding to $475 million.
Become a Designated Organization
Designated organizations are business groups that are approved to invest in or support possible start-ups through the Start-up Visa Program. Click here to see the full list of designated organizations.
The first step to applying for Startup Visa designation is to become a member of and be recommended by National Angel Capital Organization (NACO).
Designation of Incubators and Accelerators
The incubator and accelerator designation process is designed to identify and recognize high performing organizations that support businesses at various stages of the company's lifecycle. These organizations provide some or all of the services listed below
Vetting and selecting quality companies to support
Structured programming with a defined timeline, goals, and outcomes to be achieved
General access to mentors, professional services, and workshops that support the development of companies
Direct investment or access to a network of investors to support the growth of the business
Access to office space, equipment, and other infrastructure needed for businesses to grow and thrive
Designation of Angel Groups
NACO's Angel group designation process is designed to recognize high performing groups of accredited investors that have a proven track record of making informed investments over time while also excelling in:
Vetting and selecting quality deal flow for member investment
Engaging and supporting the development of both existing and new Canadian Angel investors
Demonstrating success in their portfolio as measured by investment, exits and follow-up investment
Managing their group with appropriate governance principles in accordance with the Best Practices for Angel Investment and Angel Groups established by NACO
Following leading industry best practices for Angel investment
Additional details on the application process for designated organizations can be found here.
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