National Angel Capital Organization NACO and Yuri Navarro

international companies: The process is taking longer than some expected, in part because of the high volume of applicants that potential investors must wade through, as well as the due diligence required, which is even more time consuming when dealing with international companies, according to Globe and Mail. It happening, it just happening slowly because there are some challenges, says Yuri Navarro, executive director of the National Angel Capital Organization NACO is working on a process, with the support of consultancy KPMG, to help fill in the information gaps and streamline the process of connecting foreign entrepreneurs with angel investors. While that still a very small number compared to the 2,750 visas set aside each year for start-up entrepreneurs and their families, it wasn’t until last summer that the first applicant was approved. The Start-up Visa Program was launched in April 2013 as a five-year pilot, replacing the Federal Entrepreneur Program that started in the 1970s. To qualify for the Start-up Visa Program, a foreign entrepreneur must first secure a minimum investment of $200,000 from a designated venture-capital funds, or a minimum investment of $75,000 from a designated angel-investor group. That program was suspended in 2011, after being considered no longer effective. (www.immigrantscanada.com). As reported in the news.