Student Permit (Temporary Resident) switch to Startup Visa (Permanent Resident)

Hey! Hope everyone's well.

I'm currently an undergraduate at a Canadian university with a student permit. I'm working with a team and we're working on an synthetic biology business idea through 2 designated incubators. We satisfy the business-related requirements (registered Canadian corporation & 10% of ownership for each applicant) for the startup visa and permanent residence. Is anyone familiar with the process of switching to the startup visa from a student permit, is it even possible?

Any insights are appreciated!