You're thinking of the old Entrepreneur Program, that'd been around since the 1970s.
That program simply facilitated new Canadians to make smaller convenience stores or low-risk ventures at best (smaller, safer enterprises, etc). It's criteria was largely just net worth and business experience. The only path to Canadian permanent residence was the creation of one new job every three or four years.
As you'd guess, it didn't exactly inspire risk takers.
I believe the previous vis was for businesses in general, and not specifically tech startups like this one? Also, that visa required the person coming in to bring their own money to start something.
