Canadian Tech sector all set to capitalize losses of US Silicon Valley businesses
Canadian Tech Sector is all set to capitalize on the losses of US Silicon Valley businesses owing to the stringent immigration policies of US President Donald Trump. There is a spell of uncertainty over the US Tech sector as it is heavily dependent on highly skilled overseas workers.
In the recent weeks, the government of Canada and Canadian Tech sector is seeking to take advantage from the ambiguity in the Silicon Valley. They are accentuating their efforts to appeal to overseas entrepreneurs and engineers who could rely on the H-1B visa program of the US, as quoted by the NY Times.
Ontario’s Economic Development Minister Brad Duguid said that these are exciting times. Toronto is one among the largest Canadian Tech sector hubs that are emerging as the center of attraction. Mr. Duguid added that it is unfortunate that the US is pursuing a policy of protectionism. But we will not miss the opportunity to take advantage from this, added the Minister.
In order to accentuate the growth of the Canadian Tech sector, the government announced in June that IT firms will be facilitated to quickly hire skilled overseas workers. Under the new visa program, the 2-year visas will be approved within less than 2 weeks. This is incomparably faster with the visa processing in the US. Above all, there is no ceiling on the numbers of these Canada visas, unlike the capped US H-1B visas.
Ontario is already working on a campaign for social media appealing to IT executives globally to arrive at Ontario for investment purposes. Canada’s Federal Minister for Science, Innovation and Economic Development Navdeep Singh Bains said that Canada is seizing the moment. It is welcoming people and businesses, added the Minister.