The Ontario government today announced it is recruiting 100 international entrepreneurs to start or grow businesses in regions outside of the Greater Toronto Area. They are seeking businesses that have been hit hard by pandemic job losses. The program will be funded through the Entrepreneur Stream of the Ontario Immigrant Nominee Program (OINP). This initiative will target growth for the information technology, life sciences, and tourism sectors while bringing new investments to cities and towns often overlooked by entrepreneurs.
“We want people across Ontario – no matter where they live (not just big cities) to find rewarding, well-paying careers in their communities.”
Monte McNaughton, Ontario Minister of Labour, Training and Skills Development
Each entrepreneur who is selected will be required to invest a minimum of $200,000 into their business – generating at least $20 million for Ontario’s economy. The project will prioritize applications from entrepreneurs looking to start or grow their business outside of the GTA, especially in communities hit hard by job losses resulting from COVID-19.
Although the Entrepreneur Stream of the Ontario Immigrant Nominee Program was initially established in 2015, only two nominations have been made to date. To improve this program, this project will better support entrepreneurs that apply and help connect them with business opportunities that best fit them.
In 2021, over 100,000 immigrants have been granted permanent residency status by the federal government. Only 8,600 were nominated through the Ontario Immigrant Nominee Program. To better fill critical labour shortages and drive economic growth, Minister McNaughton has called on the federal government to double Ontario’s allocation in 2022.
Quick facts about the OINP program
- Through the entrepreneur project, applicants will be able to be nominated for permanent residence once their business has been operating in Ontario for 18-20 months.
- Ontario has again requested the federal government to double its current nomination allocation for 2022 to support economic growth and drive new jobs and investment to the province.
- This work builds on the government efforts to attract top talent and investment to the province by:
- improving the nomination process for applicants to the Ontario Immigrant Nominee Program with an expression of interest system
- helping businesses in small and rural communities attract and retain skilled workers
- making it easier for internationally-trained individuals to practice in regulated professions.
“Communities across Ontario are looking for investment, and immigrants are looking for opportunities. Through Build Ontario, our government is working to bridge the gap between the two. Our government is working for workers, and laying a foundation for prosperity in every corner of our province. “
Peter Bethlenfalvy, Ontario Minister of Finance
The Ontario Immigrant Nominee Program is the province’s economic immigration program. It works in partnership with the Government of Canada through Immigration, Refugees and Citizenship Canada.
Foreign workers, international students and others with the right skills, experience and education apply to the OINP for a nomination.
The OINP recognizes and nominates people for permanent residence who have the skills and experience the Ontario economy needs, and the Government of Canada makes the final decision to approve applications for permanent residence.
Maxtech Innovations announcing 100 int’l entrepreneurs via #OINP program “I immigrated to Canada 50 years ago, and I am a proud Canadian Citizen. Many years ago, with the help of the Ontario government I started one of my businesses that has grown into a successful enterprise. I want to congratulate the Minister on announcing this new project today that will help many more international entrepreneurs start businesses like mine, create new jobs in small communities and settle in Ontario. ”
Kacee Vasudeva – CEO, Maxtech Innovations
