Pangaea invests in early stage cleantech companies with world-class advanced materials innovation.
Pangaea is one of twenty original venture capital funds designated under the new Canadian Startup Visa program. We are excited at the prospects of helping entrepreneurs with world-class advanced materials innovation locate their companies to Canada.
The Startup Visa program was launched on April 1, 2013 by Citizenship and Immigration Canada to help recruit innovative entrepreneurs to Canada. The program provides what I would call a fast track visa process for entrepreneurs with world-class innovation who desire immigration to Canada.
On an annual basis, Canada grants landed immigrant status to approximately 300,000 out of over 3,000,000 applicants. The standard application process can take over one year. The length of time and odds of acceptance makes it difficult to attract innovative entrepreneurs to Canada.
This could change under the Startup Visa program for entrepreneurs willing to move to Canada who have world-class innovation. Qualified entrepreneurs can now get landed immigrant status much faster and with more certainty so long as they have the backing of a designated Canadian venture capital fund or angel investor group and so long as they meet basic qualification standards.
To qualify, applicants must secure the at least $200,000 in funding from a designated venture capital fund or $75,000 from an angel investor group. Pangaea Ventures plus nineteen other venture capital funds and three angel investor groups are designated investors under the program. The full list can be found at www.startupvisa.ca/designated-investors.
Applicants must also meet basic qualification standards listed at www.cic.gc.ca/english/immigrate/business/start-up/eligibility.asp that include language proficiency and at least one year of post-secondary education.
Pangaea plays no role in the immigration decision-making process and is expressly forbidden to provide visa-related advice to applicants. For information on the process go the Citizenship and Immigration website and www.startupvisa.ca.