The BetaKit Podcast Channel How to fix Canada's Start-up Visa
Feb 23, 2026
Lucy Hargreaves, CEO of Build Canada and policy advocate for innovation, and Boris Wertz, founding partner at Version One Ventures and early-stage investor, discuss Canada's Start-up Visa. They talk about how program changes led to fraud and long backlogs. They explore faster processing, stricter fraud controls, investment-backed applications, and ways to keep global founders and repatriate Canadian entrepreneurs.
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Investor Vetting Was The Original Gatekeeper
- The Startup Visa originally used investor due diligence as a credibility filter to fast-track immigrant founders to permanent residency.
- Boris Wertz explains the program relied on VC or angel investment thresholds ($100k VC, $75k angel) to ensure quality and speed, modeled after the US approach.
Incubator Stream Opened The Floodgates
- The incubator/accelerator stream removed financial skin-in-the-game and created an easy pathway that attracted fraud and mass applications.
- Boris says removing the investment requirement opened floodgates, creating hundreds of low-quality applications and backlog.
Romanian Teams Led To A Successful Exit
- Version One sponsored two Romanian teams under Startup Visa; one later built a company acquired by Twitter.
- Boris uses this example to show the program can yield high-impact outcomes when investors back vetted founders.