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Entrepreneurship Research Center on G20 Economies VOL.8 June 2019

Startup Visa Facilitates the Overseas Development of Entrepreneurship

the "Startup" category who have made significant achievements
against their business plans. The Innovator category may lead to
settlement in the United Kingdom.
Startup Visa in Canada
The Canada Startup Visa program grants permanent residence to
immigrant entrepreneurs while assisting them to be established in
Canada. The program aims to encourage immigrant entrepreneurs
to grow their companies in Canada. At the same time, the Canadian
government cooperates with private sector organizations to provide
the foreign entrepreneurs with funding, guidance and expertise in
operating their enterprises in Canada.
The Canadian Federal Citizenship and Immigration Department
partners with the Canada's Venture Capital & Private Equity Association
(CVCA) and the National Angel Capital Organization (NACO) to attract
Entrepreneurship is an important driver of innovation, job creation and foreign high-tech and other entrepreneurs to come to Canada to set up
economic growth. While fostering the entrepreneurship and innovation new businesses. The CVCA and NACO are responsible for evaluation
among their own citizens, Many G20 members and some regions have of business plans, from the perspective of innovation and market
begun to attract more foreign entrepreneurs to come all the way to potential, while they give all kinds of support as well. The government
start up their businesses by issuing "startup visas" and simplifying the is scheduled to approve up to 2,750 startup visas each year.
entrance procedures. This is considered as an effective way to foster
the technological innovation and economic development, and also Special Residential Status in Japan
create more jobs for their own citizens as well. The Japanese government granted "Special Residential Status"
Startup and Innovator categories in UK to international students since April, 2019, in a bid to encourage
outstanding foreign talents to start up their business based on the
The UK Home Office announced major changes include the abolition knowledge and experience that they have learned in Japan. The
of the Tier 1 (Graduate Entrepreneur) and Tier 1 (Entrepreneur) "Special Residential Status" allow one-year stay after graduation of
categories and the introduction of the "Startup" and "Innovator" the international students. Before this, many international students
categories. These new changes took effect since 29 March 2019. who wanted to start up a business, need to start a business during
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"Startup" categories their studies. At that time, the only way for them to stay longer in
Japan after graduation is to apply for a "Business Management"
The "Startup" category is for those who start a new business for the visa. However, it is not easy to obtain a "Business Management" visa.
first time in the United Kingdom. It requires an English level of B2, or Firstly, it needs 5 million yen (about $50,000). Secondly, it needs to hire
5.5 or above in the IETS. Applicants are not required to be graduates or 2 full-time employees in addition to the entrepreneurs. The newly-
secure any initial funding, and the previous working backgrounds are launched "Special Residential Status" provides a transitional period for
not considered. The Startup Visa applicants will first have to be endorsed international students who are interested in starting up a business in
by an approved body before they can apply to the Home Office for their Japan by giving them time of one year to start their business and meet
visa. The list of approved endorsers will include business incubators and the requirements of "Business Management" visa.
accelerators, as well as universities. Successful applicants will be granted
two years' visa (as opposed to one year under the current category) and SISA Visa in Australia
will be able to progress into the Innovator category to continue developing Australia launched a new business visa program in November 2018 which
their business in the United Kingdom after two years. is known as "Supporting Innovation in South Australia" visa; also called
"Innovator" categories SISA Visa. South Australian Government is responsible for operating this
program, the purpose of which is to attract entrepreneurs and investors to
The Innovator category is intended for more experienced South Australia. Under this initiative, foreign entrepreneurs and investors
businesspersons. Applicants will also require an endorsement from with an innovative idea and a supporting business plan will be able to apply
business incubators, accelerators and universities, and in addition to for a temporary visa to take forward their venture in Australia. Applicants
£50,000 to be invested in their business from any legitimate source (as will not need capital backing, unlike the current Entrepreneur Visa which
opposed to £200,000 for most applicants under the current category). requires demonstrated funding of at least $200,000. Instead, applicant's
The funding requirement will be waived for those who progress from proposals will be vetted by State or Federal Government entities, with