The Alberta Foreign Graduate Start-up Stream (FGSVS) was launched by the Alberta Immigrant Nominee Program (AINP) on January 27, 2021. This new initiative is designed to encourage and facilitate the immigration of international graduates living abroad wanting to establish their business in the Prairie Province of Alberta.
International graduates will be required to meet certain eligibility criteria to qualify for this stream. This program is jointly managed by two designated agencies, the Vancouver-based, “Empowered Startups” and Calgary’s, “Platform Calgary”, approved by the AINP. These agencies are responsible for reviewing the business plans presented by the applicants.
A good business plan is an imperative requirement for this stream among others. Receiving a letter of recommendation from the above-mentioned agencies will make the applicant eligible for provincial nomination. Let’s take a look at what else is required to qualify for this stream.
What Are the Requirements for the Foreign Graduate Start-Up Stream (FGSVS)?
The AINP uses the Expression of Interest (EOI) system to assess applicants for this stream. Therefore, you must meet the following requirements and score high on the Points Assessment Grid to qualify for this stream:
Have at least 6 months of business ownership or management experience. It can also be gained by working with a business accelerator or incubator.
Have a degree from a post-secondary institution obtained within the last 2 years of applying with an Educational Credential Assessment (ECA) report to demonstrate that is a Canadian equivalent.
Demonstrate language proficiency with a level 7 on the Canadian Language Benchmark (CLB) for English or French on an approved language test.
Letter of Recommendation:
Gain a letter of recommendation from one of the two approved agencies for this stream.
Present a 10-minute business pitch highlighting the purpose and goals of your business venture.
Submit a business plan including all projections for financials and operations.
Own at least 34% of the business establishment if it is located in an urban center or at least 54% if located in a regional area outside Calgary and Edmonton.
Make a minimum investment from your equity or secure capital from a Canadian financial institution, venture capital or angel investor before coming to Canada. The minimum investment for a business established in an urban center is $100,000. If the business is located outside of Calgary and Edmonton, then the investment requirement is $50,000.
Have sufficient settlement funds to support yourself and your family’s stay in Canada.
If the above-mentioned requirements are met, then you qualify to submit an EOI to the AINP for provincial nomination.
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