South Australia has allocated $400,000 for a new entrepreneur visa pilot

by Ray Clancy on September 24, 2018

in Australia

A new visa for start-up entrepreneurs seeking to establish a business in South Australia has been launched as part of a new pilot programme.

The $400,000 programme aims to boost business growth in the state and investment, as well as increasing job opportunities by attracting entrepreneurs from around the world.

Entrepreneur

(By bleakstar/Shutterstock.com)

This visa will be different from the existing entrepreneurial and business and innovation visas as it will not require any mandatory funding outlay and an applicant only needs to demonstrate vocational English language proficiency.

It means that foreign entrepreneurs and investors with an innovative idea and a supporting business plan will be able to apply for a temporary visa to establish their venture in Australia.

Their business proposals will be examined by the State or Federal Government and those successfully establishing their business venture in the state will become eligible to apply for permanent residence.

The South Australia pilot will run over four years and 30 places allocated in the first year with the number of visas increasing every year from then on.

‘The new visa will drive entrepreneurialism and innovation in our state, with the future potential to employ South Australians,’ said David Ridgway, South Australian Minister for Trade, Tourism and Investment.

The State is also keen to attract more international students. Some years ago South Australia attracted less than 5% of overseas students arriving in Australia. The latest figures show that there were nearly 36,000 international student enrolments in South Australian institutions in 2017, compared to 11,100 enrolments in 2002.

Ridgway said that to support growth a new international education strategy for South Australia will be developed that outlines specific measures to increase the state’s international student enrolments.

‘We are committed to growing the international education sector so that we can increase international student enrolments, because we know the huge benefits this brings to our State,’ he explained.

He added that there will be an increase to $2.5 million in annual funding to StudyAdelaide, to market the city as a centre of education excellence, to entice more international students to live and study in the State.

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