I plan to write a blog post about this this week. In short its a visa allows you and the team to move to Canada and has a path of PR that is independent of the success of the startup. There are multiple ways to be selected for this some include getting funded / cleared by a select set of VC and Angel groups and others depend on paying your way into some designated non-profit startup incubators.
If you are in the PR process then this is of not much use to you. For others who have a startup going and want to move their whole team over and get to work instead of dealing with express entry this is a good option.
Launch academy is one of the designated non-profit incubators.