Canadian tech companies set to gain from Trump’s visa ban

Tech companies in Canada have already registered a 54% growth of skilled U.S. workers immigrating to Canada.

In a move designed to capitalize on Trump’s executive order which has temporarily banned travelers from 7 countries, more than two hundred founders of tech companies from Canada have urged the Canadian government to provide temporary residency to those displaced by Trump’s order.

“Canadian tech companies understand the power of inclusion and diversity of thought, and that talent and skill know no borders,” reads a letter from the CEO’s of Canada’s top tech companies.

Signers of the letter include Tobias Lutke, the CEO of Shopify, a business concern who’s net value is stated to be around $4.6 billion, John Ruffolo, who heads the venture arm of the Ontario Municipal Employees Retirement System which is one of Canada’s biggest pension funds.

Although the Canadian government has not officially taken any measures, Prime Minister, Justin Trudeau has tweeted that the nation welcomes those fleeing persecution and war.

With more than 300,000 Canadians working in Silicon Valley, the country is eager to retain and attract skilled tech workers from abroad.

Canada has benefitted from Donald Trump’s U.S. elections campaign with the country registering almost 54% growth in highly skilled workers from the U.S. in the first 8 months of 2016.

In November 2016, Canada had introduced new simplified visa measures that allows tech companies to quickly recruit foreign talent and provide 30-day work permits.

“This utterly foolish action by the U.S. government is an opportunity 100 times greater to build Canada,” said Debow. “All we have to do is be ourselves, open our doors, and allow people to have a choice to come here,” said Daniel Debow, co-founder of Inc.

Categories: Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Strategy

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