The South Australian opposition says the federal government has agreed to pilot a new visa in SA aimed at increasing business growth and investment.
The temporary start-up visa will be offered to those who are nominated by a state or the commonwealth to take forward an innovative idea with a supporting business plan.
There would be no funding requirement, unlike the current entrepreneur visa which requires at least $200,000 in capital backing, and all applicants must be aged under 45 years with a vocational level of English.
The new visa is in line with the findings of the 2017 review of the business, investment and talent visa program.
But it is unclear if the initiative is conditional on the Liberals winning the March 17 state election.
"The federal government and the state Liberals are committed to fostering business growth and investment through innovation," Opposition Leader Steven Marshall said.
"The opportunity this pilot visa provides to encourage people with innovative ideas to pursue their business development plans in South Australia aligns with our strong plan to create more jobs."
Mr Marshall said he was confident the program would lead to participants applying for permanent residence in South Australia.
"These arrangements will also encourage more investment in those sectors of our economy with the greatest capacity to grow, including advanced manufacturing and defence technology," he said.
Federal Home Affairs Minister Peter Dutton said entrepreneurs who were successful in establishing their business venture in Australia would become eligible to apply for permanent residence.
"The Turnbull government is focused on increasing job opportunities and standards of living for Australians and we are doing this by fostering business growth and investment in Australia," Mr Dutton said.
"Encouraging seed-stage entrepreneurs to take forward innovative ideas in Australia will assist in growing the jobs of the future".
Share
