A Canadian VC Firm will pay for entrepreneurs to become Canadian

Kamchowder's picture
Rank: Gorilla | banana points 622

Just read this article about how a Canadian VC firm entices entrepreneurs to become Canadian.

Sharma is the CEO and cofounder of Extreme Venture Partners, a Canadian VC firm that recently assembled a fundfor paying startup founders and their families to relocate to Toronto.
Upon arrival, they'll receive seed funding, guidance on beginning their new Canadian life, and the opportunity to get on the fast-track for citizenship. Sharma says EVP is prepared to welcome 30 companies over the next three years.

This is an interesting concept for attracting entrepreneurs, but its goals seems to be very lofty right now.

And given the current political climate in the US, with the H1-B work visas often used by tech workers under threat, the fund could lure Silicon Valley firms up north. Chosen companies will receive between $50,000 and $100,000 in funding, mentorship for growing the business, and guidance for finding additional funding.

If this project goes through, then I believe that this program can attract quite a few entrepreneurs.

What do you think of this program? Do you think that the VC firm's program will succeed? If you were an entrepreneur and got sponsored, would you move to Canada?

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