[p-bende88]

You're thinking of the old Entrepreneur Program, that'd been around since the 1970s, and is now under a moratorium. As mentioned in a different comment here, that program was substantially different.

This new program, for one, includes permanent residency and is the first such program in the developed world to do so for entrepreneurs. It puts an end to what many countries (and indeed Canada until now) had, which was to offer the uncertainty of bureaucracy where one's long-term residency was concerned. Not exactly inviting, hey?

What I thought neat during the announcement yesterday was that they recognize that some startup business float while others sink, but your permanent residence status doesn't get taken away if your business sinks.

On that note, it is worth pointing out that Canada is making major headway in what they call a "faster and more flexible" immigration system. http://www.cic.gc.ca/english/department/media/releases/2012/...