New visa program to attract entrepreneurs to South Australia
The world’s ‘best and brightest’ start-up entrepreneurs will be encouraged to move to South Australia to develop their business under a bold new Federal Government visa arrangement launched today 22/11/2018.
South Australia is the pilot state for the three-year Supporting Innovation in South Australia (SISA) visa which will encourage budding foreign entrepreneurs. The entrepreneurs can be focussed on a variety of industries, however, they will be looking favourably at applications that relate to the state’s emerging industries such as Defence and space; cyber security and big data; agribusiness; health and medical technology; robotics; and media and film.
Premier Steven Marshall said his Government has committed $400,000 over four years to support the new visa program seeking to attract promising overseas seed-stage entrepreneurs to develop their concepts in South Australia, which in turn will add value to the local innovation eco-system, create jobs, and increase its number of business start-ups in our state.
To be successful, applicants will need endorsement from South Australian innovation ecosystem providers or the Office of the Chief Entrepreneur. Importantly, unlike previous visa classes in this area, the new visa arrangement does not require applicants to demonstrate a minimum funding of $200,000 for approval – the success of their application will ultimately rest upon the quality of their start-up and idea and the soundness of their business plan. Successful applicants will be nurtured in South Australia’s local innovation ecosystem to help build a successful new business and grow jobs in the state.
For more details on the new Supporting Innovation in South Australia (SISA) visa, please contact us our Agents at Modern Migration Australia.