Under the National Innovation and Science Agenda in order to attract the "best and the brightest" skilled people to Australia, changes to the points test for the Skilled Migration Program have been announced.
Five additional points are now available to graduates from Australian institutions with doctorate-level and masters by research qualifications in science, technology, engineering, mathematics and information and communication technology fields. This change came into effect on 10 September.
Under the Business Innovation and Investment Programme, applications for the new Entrepreneur visa are being accepted now.
This new visa will allow entrepreneurs with $200,000 in funding from specified third party to develop and commercialise their innovative ideas in Australia. The visa provides a pathway to permanent residency in Australia. Applicants can secure funding from Commonwealth agencies, state, and territory government, publically funded research organisations, investors registered as a venture capital limited partnerships or early stage venture capital limited partnerships or any combination of these.
To be eligible for the Entrepreneur visa, you must:
• be under 55-years-old
• have a competent level of English
• have an agreement in place for at least $200,000 to grow your entrepreneurial venture in Australia
• hold at least 30 percent interest in that entrepreneurial venture
• be nominated by a state or territory government.
