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In a groundbreaking move, Sean Fraser, Canada's esteemed Minister of Immigration, Refugees and Citizenship, has inaugurated Canada's maiden Tech Talent Strategy. This revolutionary strategy encompasses fresh measures and enhancements to existing ones, offering a lifeline for Canadian businesses striving to flourish in an increasingly competitive world.
The Ambitious Outlines of the Tech Talent Strategy
At the heart of this pioneering Tech Talent Strategy, Minister Fraser unveiled a set of proactive measures intended to attract top-tier talent:
1. The launch of an open work permit stream aimed at H-1B specialty occupation visa holders in the US, facilitating them to apply for a Canadian work permit. Moreover, their family members will have the opportunity to apply for a study or work permit.
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2. The formulation of an Innovation Stream under the International Mobility Program. This is aimed at luring highly proficient individuals, with options including employer-specific work permits for up to five years for employees slated to work for companies recognized by the Canadian Government as contributors to industrial innovation objectives. Moreover, there's the option for open work permits for up to five years for high-calibre workers in select high-demand occupations.
3. A resumption to the 14-day service standard for work permits under the Global Skills Strategy, a significant step to speed up the process.
4. An initiative to promote Canada as an alluring destination for digital nomads, an increasingly important part of the global workforce.
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5. The inception of a STEM-specific draw under category-based selection, leading to additional invitations to apply under the Express Entry program, thus attracting professionals from key scientific and technological fields.
Considerable enhancements to the Start-up Visa Program, which include the following aspects:
6. The allocation of more spots to this program for 2023, with a planned increase for 2024 and 2025.
Applicants can now apply for a work permit that is up to three years in duration instead of the earlier one-year limit.
They can also apply for an open work permit instead of one that binds them to their own start-up.
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This three-year open work permit is available to every member of the entrepreneurial team rather than being exclusive to those deemed essential and urgently required in Canada.
Applications backed by venture capital, angel investor groups, business incubators, or those with committed capital are being prioritized, particularly those supported by business incubators who are members of Canada's Tech Network.
The Canadian Government's newfound approach attests to Canada's emergence as a front-runner in global tech talent recruitment and attraction. The goal is not just to fill existing in-demand jobs, but also to draw in skills and business talent that will engineer the jobs of the future.
An Aspiration Made Possible by Collaboration
Minister Fraser was effusive about the ambitious objectives set out in the Tech Talent Strategy. He acknowledged that it was not merely about the numbers; instead, it is a well-thought-out strategy. The goal is to target newcomers who can help establish Canada as a world leader in various emerging technologies. He expressed gratitude to the tech, start-up, and business communities for their valuable insights, which shaped this strategic move. He added that Canada's immigration advantage is its swift and adaptable approach, which is backed by broad support from Canadians.
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Timelines, Details, and Statistics
Several aspects of this strategy will come into effect by the end of 2023. These include the launch of the Innovation Stream and alterations to the temporary work permit option for Start-up Visa Program applicants.
The open work permit for H1-B specialty occupation visa holders will be accessible from July 16, 2023. Successful applicants will obtain an open work permit of up to three years in duration, enabling them to work for almost any employer in Canada. Their spouses and dependents can apply for a temporary resident visa, with work or study permits as necessary.
In 2021, Canada's information and communications technology sector employed nearly 720,000 Canadians and accounted for more than 44% of all private research and development spending. This sector was responsible for more than 15% of Canada's overall GDP growth from 2016 to 2021.
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Canada ranked number one as the most attractive destination for immigrant entrepreneurs in a 2023 report by the Organization for Economic Co-operation and Development (OECD). The rankings considered factors such as access to capital, corporate tax rates, skills of the workforce, strength of universities, quality of life, as well as immigration policies for entrepreneurs and their families.
Through this ambitious Tech Talent Strategy, Canada is poised to reshape the future of technology and innovation on the global stage. As it stands, Canada's tech ecosystem is bright, and the new strategy will undoubtedly foster an even more vibrant and prosperous future.
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Latest Canada Immigration Updates June 2023