OINP announced update on the entrepreneur pilot

On November 8, Ontario released a new update on the Entrepreneur Pilot according to which the pilot has been launched as the OINP Entrepreneur Success Initiative (OINP-ESI). The pilot is now being administered by Toronto Business Development Centre (TBDC)  The program will recruit a total of 100 foreign entrepreneurs to establish and grow businesses across the province outside of the Greater Toronto Area.

At the time of the Entrepreneur Pilot announcement, OINP required a minimum investment of $200,000 per applicant aiming at generating $20 million of investment from these 100 entrepreneurs. This new project is targeted to create more local jobs in the sectors such as information technology, life sciences, and tourism.