Actually it costs a lot more than $250k to get permanent residence. According to the current program, you have to have a minimum net worth of 1.6 Million and visit $800k (all values Canadian)
You are referring to the Immigrant Investor program, which is on hold.
The Start-Up Visa program does not require any investment from foreign entrepreneurs. It simply requires that the start-up itself have a funding commitment from a designated angel investor network or acceptance to a designated incubator network.
Part of what makes the program so historic is that it offers permanent resident status (the Green Card) right from the start. This is not affected whether the business fails or succeeds. This program actually recognizes the risk that entrepreneurs take.
Source: http://www.cic.gc.ca/english/immigrate/business/investors/in...