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In early 2026, Canada’s Immigration, Refugees and Citizenship Canada (IRCC) will launch the Targeted Entrepreneur Pilot, replacing the Start-Up Visa program, which is currently on hiatus, to draw in high-impact entrepreneurs to the country to establish a business. It targets industry sectors such as artificial intelligence (AI), cleantec,h and life sciences, with 1a 2-month processing time, as compared to 37 months of processing time before, and provincial nomination and performance measures towards permanent residence. The business owners have to prove that they have capital, traction, and economic utility, with onshore work permits being of primary importance. This change is in line with declining objectives of business immigration (500 slots annually), favoring discriminatory, milestone-based accessions as opposed to quantity-based approvals.
Targeted Entrepreneur Pilot Eligibility
The successful candidates must possess an established business experience, minimum investment (probably, $75K+ committed capital), and should be aligned with Canada Critical Technology Clusters. Onshore applicants who have valid work permits are favored; offshore applicants must have sector or provincial support. Business strategies should present creativity, employment, and replication, which have to be filtered through a points grid or an invitation system.
Step-by-Step Application Process
First, determine eligibility and obtain a provincial Nomination in case it targets other areas other than major hubs. Second, prepare documents: business plan, funding evidence, traction, and milestones. Third, file through the IRCC portal after the Q1 2026 Launch, which is tracked through the work permit in Canada. Look forward to the audit and compliance inspection; otherwise, lose the status.
Official IRCC post on the new entrepreneur pilot launch preparations: Click here
FAQs
What replaces Start-Up Visa in 2026?
The Targeted Entrepreneur Pilot focuses on faster, sector-targeted entries with milestones. Existing 2025 certificate holders apply by June 30, 2026; new ones wait for pilot details.
Who qualifies for the pilot?
Entrepreneurs with management experience, 51% business ownership, sufficient settlement funds, and plans for high-growth sectors. Provincial ties boost chances.
How long is processing?
Targeted at 12 months, versus SUV’s 37, with work permits for onshore applicants during review.
What documents are needed?
Business plan, investment proof ($75K+), experience letters, funds for family, and sector alignment evidence.
Can offshore applicants join?
Yes, but limited by quotas; provinces may nominate for regional hubs beyond Toronto-Waterloo.
