OSS x Pycap Event Recap: Top 5 Questions About Start-Up Visa, PR Timelines & Traction

On September 19, 2025, Ontario Startup Studio (OSS) had the honour of hosting Stuart Browne, CEO of Pycap Venture Partners, for an exclusive CEO Meet & Portfolio Update session with SUV founders under Pycap’s portfolio.

The hybrid event brought together teams across Canada and Vietnam to gain insights directly from Pycap and Dr. Thanh Phan (CILA) regarding Start-Up Visa (SUV) policies, IRCC expectations, and how founders can stay proactive during the waiting period.

Below is a recap of the top questions collected during the session, including clarifications to help founders strengthen their cases:

1. 

How can founders outside Canada show business traction to IRCC?

IRCC understands that many founders start remotely. The key is to show genuine effort and intent through ongoing activities, such as:

• Product R&D updates, MVPs, prototypes, and pilot testing.

• LOIs (Letters of Intent), MOUs, or early partnership discussions.

• Participation in Canadian events, accelerator programs, or mentorship.

• Hiring Canadian contractors, lawyers, or service providers.

• Submitting monthly traction reports with specific business milestones.

These signals help IRCC assess whether the startup is active and legitimate, even if the founder is not yet in Canada full-time.

2. 

Why are PR applications taking 53 months? What should founders do meanwhile?

The 53-month figure reflects IRCC’s current backlog, not the timeline for every case. Well-prepared and well-documented applications can move faster.

While waiting, founders should:

• Continue building their business and gathering progress evidence.

• Renew work permits with detailed support letters and updates.

• Avoid going silent or inactive—IRCC expects continuity and progress, not just passive waiting.

3. 

Will my company still be considered a “startup” if PR takes 4–5 years?

Yes. IRCC is less focused on the age of the company and more on whether it remains:

• Innovative

• Beneficial to Canada

• Continuously developing

Maintaining updated roadmaps, releasing new features, expanding partnerships, and demonstrating ongoing activity will help prove the company’s startup nature.

4. 

What types of progress matter most to IRCC?

IRCC evaluates real business traction across multiple dimensions:

• Commercial: Revenue, pilot launches, export deals, sales channels.

• Economic: Spending on Canadian services (lawyers, accountants, interns, developers).

• Strategic: Partnerships with local businesses, universities, government programs.

• Innovative: Tech development, patent filings, Canadian IP registration.

Founders should frame updates in these categories when submitting progress reports or applying for extensions.

5. 

Can SUV founders join other accelerators or programs to boost their case?

Absolutely. In fact, this is highly encouraged. Pycap collaborates with various institutions (e.g., a recent cohort at the University of Toronto Scarborough), and founders are urged to:

• Apply for Canadian accelerator/incubator programs.

• Attend future Pycap/OSS events and Q&A sessions.

• Monitor Pycap’s updates for limited-time opportunities.

Joining recognized Canadian programs signals local integration and ecosystem engagement, both of which strengthen your SUV profile.

🔎 Final Thoughts

The path to Canadian PR through the Start-Up Visa is no longer just about securing a Letter of Support. It’s about proving that your venture is real, evolving, and connected to the Canadian economy.

OSS will continue organizing high-impact events to help SUV founders stay aligned with IRCC expectations.

📌 Stay tuned for upcoming events and support services from OSS and Pycap!