Australia is trying to attract skilled and talented people with a new enhanced visa system which will come into effect later this year. Through the introduction of a new provisional Entrepreneur Visa, Australia are trying to bring the ‘best’ and ‘brightest’ entrepreneurial talent and skills on shore in order to achieve their goals of becoming a high-performing and innovative nation.
The new enhanced visa system will provide pathways to permanent residence for postgraduate research graduates with Science, Technology, Engineering, Maths and ICT qualifications.
Australian doctorate-level and masters by research qualifications in STEM and specified ICT or related fields will be given preference though extra points under the Points Tested Skilled Migration programme to strengthen their pathway to permanent residence.
This new visa will be introduced in November this year, whilst the enhanced pathways for STEM postgraduate researching graduates should be implemented in December 2016.
The Entrepreneur Visa is being introduced as STEM skills jobs has witnessed a 50 per cent faster growth compared to other jobs between 2006 and 2011, as according to the Australian Bureau of Statistics.
These new entrepreneurs with innovative ideas and financial backing is what the government is looking for to help ease the demand for ICT workers, as StartupAUS crossroad’s reported a demand which has doubled between 1999 and 2012, whilst the number of students opting for tertiary ICT courses have declined significantly.
The Entrepreneur visa is available for entrepreneurs who want to develop or commercialise their innovative ideas in Australia and who have $200,000 in funding from a specified third party. The Entrepreneur visa is part of the Business Innovation and Investment Visa Programme and provides a pathway to permanent residency. For example, if somebody has been working on an idea i.e for new battery technology, and they have been successful in gaining financial backing from an approved investor to commercialise the idea. This new visa will allow them to come to Australia on a provisional visa, and if their business idea is successful they will be able to become a permanent resident of Australia. As the business develops, this will create local jobs and growth for the community.
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