Vancouver, BC, May 1, 2024 – In response to the recent announcement by the Immigration, Refugees and Citizenship Canada (IRCC) regarding changes to the Start-Up Visa and Self-Employed Persons programs, Launch Academy, a non-profit designated organization, announces a temporary pause on all new applications to its Maple and Heli programs.

Effective immediately, Launch Academy will temporarily halt accepting new applications for its Maple and Heli programs. This decision comes as we assess the implications of IRCC’s changes, particularly the restriction to serving only 10 companies per year.

“As a non-profit organization dedicated to supporting entrepreneurs, Launch Academy takes pride in delivering high-quality programs that benefit both startups, their families, and the Canadian tech ecosystem,” says Ray Walia, CEO at Launch Academy. “However, with these new changes, we need to re-evaluate the economics and the depth of programming we can provide.”

Launch Academy understands the importance of clarity and stability for its applicants. Therefore, over the next couple of weeks, our team will closely examine these changes and their impact on our programs and overall business model. This includes reviewing the viability of the Maple and Heli programs and any necessary adjustments to ensure they align with the needs of our stakeholders.

“We appreciate everyone’s patience during this time of transition,” added Walia. “Rest assured, our team is committed to ensuring the best possible outcomes for all involved. We will take the necessary time to evaluate our programs and make any changes needed to continue offering services that we are proud of.”

Launch Academy remains committed to supporting entrepreneurs and fostering innovation in Canada. We will provide further updates as we progress through this evaluation period.

About Launch: Launch is Vancouver, Canada’s premier technology accelerator that helps entrepreneurs execute their startups through education, mentorship, lean metrics, and networking opportunities. Launch has established an environment where ideas are vetted, business models are tested, and successes are celebrated. Since 2012, Launch has incubated more than 6,000 entrepreneurs from over 100 different countries, of which 300 have grown their startups to Seed and Series A stages and raised over $2.5 Billion in funding. Launch Academy is a Designated Entity for the Canadian Startup Visa Program and a Referral Partner for the Canadian Global Talent Stream Program.