Program Cost & Payment Structure

The total cost of the ISV program is $25,000 CAD + GST for the primary candidate. Should the primary candidate wish to bring in team members as applicants, additional costs are as follows: 

  • $7,000 + GST for each additional member, includes PR application support and accelerator attendance 
  • $3,000 + GST for each additional member for PR application support only
* The maximum number of members per application is five total members, as stated by the Canadian government. 
 
* Please note that the aforementioned costs DO NOT cover immigration related costs. It only covers the ISV program itself, including administration, paperwork, coursework delivery, 16 weeks of sessions, etc.

Payment Process:

We divide payments into three installments leading up to the ISV program start date: 

  • The first installment must be paid once the term sheet (contract) between Spring and the applicant is signed—after official acceptance into the program.
  • The second installment must be paid halfway between when the first payment is received and before the program start date.
  • The third installment is paid before the program starts.

 

Payment Format:

We suggest for anyone located outside of Canada to pay via a wire transfer; we don’t accept credit card payments for such a large sum. Anyone located in Canada has the additional option to pay via e-transfers.

In the event of non-compliance with applicable immigration laws, or refusal of the receipt of any required permits or visas, the following refund process applies: After issuing the Commitment Certificate and before the Program start date, Spring Activator will refund the entire amount minus a $3,000 CAD administrative fee, plus applicable taxes.

There is no charge for applying. 

Immigration Process & Pre-Arrival Support

We do not provide any legal counsel on immigration or visa-related issues. However, we can recommend an immigration consultant for you, if requested.

You can bring up to five team members as part of the Startup Visa program requirements. If the primary applicant or some of the team members have family that they want to bring to Canada, they need to file visas independently.

Applicants receive a Letter of Support from Spring once they’re officially accepted into the program at the end of the application process—and before they begin their classes/sessions.

When an applicant is admitted into the program, they’re asked to send in a list of information needed to write and issue the LOS. As a result, how fast we’re able to send in the LOS to the IRCC is contingent on how quickly and accurately candidates send over their information.

Once an applicant is admitted into the ISV Program, they are asked to inform us whether they’re interested in applying for a Work Permit Visa. If the answer is “yes,” we then include it in their Letter of Support to the IRCC.

We cannot offer any guarantees on your visa application decision or timeline. However, our experience has shown that the timeline can vary for each applicant for a wide variety of reasons. We strongly advise that you submit as soon as possible after acceptance onto Spring’s ISV program, given PR has taken between 4-24 months for previous cohorts. In parallel, we also recommend applying for a Work Permit, as these are typically faster to be issued and ensure you can work on your business from Canada as you wait for your PR. Each application is reviewed individually by the IRCC, and we have no control over how long it will take.

*Please note that due to the impacts of the coronavirus disease (COVID-19), the IRCC is experiencing delays in processing applications and can’t provide accurate processing times. To learn more, click here.

So far, we’ve had no Permanent Residency rejections out of our total number of participants. We do, however, have a few participants still waiting to hear back about the status of their PR.

*Please note that due to the impacts of the coronavirus disease (COVID-19), the IRCC is experiencing delays in processing applications and can’t provide accurate processing times. To learn more, click here.

  • Application review and guidance via email
  • Letter of Support for the visa application
  • Advice on settling & arriving in Vancouver, including our welcome guide containing valuable information on neighbourhoods, transportation, housing, banking, mobile plans, local tips etc.
  • Introductions to potential business associates
  • Introduction to an immigration consultant, if requested.

Program Admission & Logistics

Yes! The Startup Visa is designed to support innovative entrepreneurs within and outside of Canada wanting to start, move, or establish a business. As a result, if you’re currently in Canada under a temporary visa and are interested in obtaining your permanent residency status, you can do so via the Startup Visa.

We accept all businesses from all sectors. We’ve worked in food, agriculture, healthcare, sustainable energy, marketplace, app, e-commerce and different business types i.e. for-profit, non-profit as well as early to growth stage.

Although we prioritize businesses that have already been established, there is some room for flexibility for those at an earlier stage. If the product or service is at an earlier stage, it needs to be at the prototype stage with a ‘minimum viable product,’ including customer research or pilots underway. Additionally, the team needs to have relevant industry or early stage, entrepreneurial experience.

The motivation behind this is:

  • The accelerator program is designed for people who are at a growth stage, rather than still developing their idea.
  • To ensure the cohort is at a similar level to maximize their experience and peer-to-peer learning.
  • To increase the likelihood of successful launches and sustainable businesses being established in Canada.

Due to the advent of the coronavirus (COVID-19) and the uncertainty around travel, we made the decision to adapt the Impact Start Up Visa Accelerator Program into a digital learning experience. Participants will now be able to progress their visa applications to Canada and attend the accelerator program—all from the comfort and safety of their homes, regardless of location in the world.

The IMPACT accelerator program runs for a period of four months, during which participants attend virtual training sessions two days per week.

Absolutely! When participants arrive in Canada—and complete two weeks of quarantine—we look forward to welcoming them in person, making relevant introductions, and inviting them to attend and be a part of community events.

At Spring, we intend to build long term relationships with our participants. We always offer community support, access to Spring knowledge base & staff, opportunities to network and connect with our stakeholders, and an invitation to be part of Spring’s online community hub.

Housing accommodation—we can make recommendations but are unable to provide designated living spaces.

Financial investments—no financial investment will be made into the business by Spring.

Business and living costs—expenses such as the cost of incorporating, business licenses, legal consultation fees, housing, and more are your own responsibility.

Legal advice—Spring doesn’t provide any legal advice but can recommend lawyers or consultants to help you with your legal queries.

COVID-19

Until further notice, most foreign nationals cannot travel to Canada, even if they have a valid visitor visa or electronic travel authorization (eTA). Once your Work Permit and/or Permanent Residency is approved by the IRCC, you are able to come into Canada.

For a detailed list of who can enter Canada at the moment, please click here

As of 2020 – 2022, the IMPACT Startup Visa Accelerator Program is going virtual. This means that participants will now be able to progress their visa applications to Canada and attend the virtual accelerator program—all from the comfort and safety of their own homes, regardless of location in the world.

COVID-19 regulations vary by province, however, for general guidance documents from the Government of Canada please click here. For updated information on COVID-19 cases in Canada please visit here