VANCOUVER, British Columbia- Canada says Hong Kong-based tech entrepreneurs should apply for a new program that can lead to permanent residency in Canada and bolster the country’s growing tech sector.
“Canada has an abundance of tech talent, valuable tax credits and grants, offers a great quality of life and provides easy access to the US market, all at a discount to the US dollar,” says Michelle McGrath, CEO of Datatrue, who moved her business from Australia to Vancouver.
Investors are knocking on the door of Canada’s tech sector. Vancouver’s Buddy Build was recently acquired by Apple, and both Hyperwallet and Tio Networks were acquired by PayPal for USD $400 Million and $233 Million respectively. Microsoft, Amazon, Salesforce, and SAP all have a significant presence in Vancouver. Vancouver’s Plenty of Fish was purchased for USD $575 million, and Hootsuite and Slack have been valued at $1 billion and $5.1 billion respectively. In recent months, the federal and provincial governments of Canada, along with major blue chip and tech firms have been pouring money into tech “superclusters” for digital data and artificial intelligence, with additional interest in Blockchain, Cybersecurity, Virtual and Augmented Reality, amongst others.
“Canada is a legitimate global contender in technology and has designed policies to open its doors to the world’s best tech start-ups,” says Ray Walia, CEO of Vancouver incubator Launch Academy. “Canada is a dynamic nation, home to a variety of diverse cultures, and arguably the best option for tech entrepreneurs looking to move into the North American market.”
Launch Academy’s Maple Program helps tech entrepreneurs by providing access to resources, mentorship, networking, and business matchmaking to overcome the challenges that occur when moving a business and family to Canada. The program is designed to work with those going through the Canadian Start-up Visa Program.
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