According to this year’s OECD Indicators of Talent Attractiveness report, Canada is a golden goose for startup founders around the globe.
The report evaluated the most enticing OECD nations for immigrant entrepreneurs, and Canada claimed the top spot for 2023.
According to OECD’s analysis, Canada’s appeal to the global entrepreneurial community isn’t by chance.
Factors of impact include vibrant startup ecosystems, access to capital across stages of growth, world-class mentoring programs, and the nation’s aggressive—if not not controversial—immigration policies.
Specifically, Canada ranked in the top 25% for almost all criteria, include “inclusiveness,” “quality of opportunities,” and “quality of life” for migrant entrepreneurs.
The country’s lowest score came for its “skills environment” which suggests Canada needs to advance its upskilling economy.
Globally there is a trend toward startup visa programs, which are now a staple in 22 OECD nations, and something Canada has been ahead of the curve on.
Catering to individuals with innovative ideas but facing capital constraints, these visa programs are reshaping the migration landscape, OECD believes.
Canada’s startup visa program has a distinguishing edge, however, offering benefits that promise not just entry but also an environment conducive to flourishing, according to the report, which was released earlier this year.
For example, the country’s commitment to fostering innovation is evident in its R&D tax incentives and collaborative efforts between industries and universities, OECD indicates.
The US ranked second—losing major points for a low score in “future prospects”—followed by France, the UK, and Ireland.