The initiative offers open, three-year work permits to people living in the U.S. on H-1B visas. Immigration, Refugees and Citizenship Canada began accepting applications on Sunday, and reached the cap of 10,000 on Monday, according to the program website. (The Logic)

Talking point: The H-1B stream was timed to capitalize on workforce upheaval in Silicon Valley, as visa holders laid off from tech jobs face a tight timeline to find new ones. The Canadian program offers most workers more stability and better prospects of staying long term, and has received plenty of attention from media outlets and tech executives across the border. Canada’s targeted stream takes only a small share of the H-1B class—the U.S. approved 442,043 applications last year across new visas and renewals. The 10,000 application limit is “a number that we can more appropriately manage to test out this new idea,” Immigration Sean Fraser told reporters last month. The H-1B stream is part of his new Tech Talent Attraction Strategy, which also includes changes to the Start-up Visa program.