Ottawa has shelved the Start-Up Visa Program, founded in 2013.supplied

Yung Wu is a serial entrepreneur and the former chief executive of MaRS Discovery District.

Canada is no longer accepting new applications to its Start‑up Visa Program. The program was the federal pathway to permanent residency for immigrant founders who secured backing from vetted Canadian investors or incubators and committed to building their companies here. It was designed to do something simple and powerful: Attract people who create economic growth for Canada.

At a time when countries are competing fiercely for founders who will build the next generation of global companies, Canada has chosen to narrow that funnel. Yes, the backlog was immense – wait times stretching toward a decade were indefensible, and fraud in the system needed stopping. But shutting down the main federal path for entrepreneurial immigrants, and promising a “new, targeted pilot program” with no clarity on its ambition, is not a fix.

Immigration Department shelves visa program for foreign entrepreneurs, citing misuse

The story of modern innovation is, overwhelmingly, a story of immigrants. In the United States, more than half of billion‑dollar “unicorn” startups have at least one........

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