A new nomination method has been established for the Entrepreneur stream. You must now be invited to apply for NSW nomination for the Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream – you cannot apply directly. The Entrepreneur stream of Subclass 188E visa no longer requires an applicant to meet the AUD200,000 funding threshold. A visa holder are no longer obliged to demonstrate key success factors, including annual turnover, funding and the provision of employment for at least two Australians.
To register your interest in NSW nomination you must eligible. You must meet the following eligibility criteria:
- be under 55 years of age.
- You must be accepted by a NSW Startup Accelerator Program or Startup Incubator Program.Accelerators and Incubators include (but are not limited to):
- Stone and Chalk
- The Studio
- Cicada Innovations
- Future Transport Digital Accelerator
- Microsoft ScaleUp Program
- Caltex C-lab
- Tank Stream Labs
- The Founder Institute
- You must show you have adequate funding secured to complete your project from an approved entity.Approved entities include a:
- Commonwealth Government agency
- NSW government agency
- Publicly funded research or innovation organisation
- Higher education provider specified as a Table A or Table B provider under Part 2-1 of the Higher Education Support Act 2003, or
- Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership
- Your business proposal must clearly demonstrate how your innovative ideas will benefit NSW, and how you intend to commercialise your product or service, and develop your enterprise or business.You must also clearly show that you have:
- completed a proof of concept (e.g. customer interviews, surveys, or focus groups)
- a potential business customer (B2B) or business channel to market (B2C)
- a scalable solution that can be deployed to multiple customers
- the IP or the rights to commercialise
- Applicants must have a genuine and realistic commitment to permanently live and work in NSW, and continue to contribute to NSW through entrepreneurial activity.Your proposed business must:
- be headquartered in NSW, and
- have a NSW registered ABN
You must be invited to apply for NSW nomination for the Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream – you cannot apply directly.
To register your interest in NSW nomination you must:
- To register your interest in NSW nomination, you must first meet all the NSW nomination criteria outlined above.
- Submit an EOI in SkillSelect selecting NSW as your preferred state.
- A payment link will be made available as soon as possible for you to complete the ROI payment.You may register your interest in NSW nomination before completing the ROI payment; however, you will not receive an outcome until the payment is made.Registration of interest fees are:
- A$330 if applying from within Australia (includes GST)
- A$300 if applying from outside Australia
If you meet all NSW nomination criteria, you may register your interest in NSW nomination by completing our online form. You will receive an outcome (or request for further information) within four weeks after completing you ROI fee payment. If you are believe you will be able to meet all the criteria for Entrepreneur stream get in touch with us for more details. Make an appointment from provisa.setmore.com or alternatively give us a call at 02 9279 0473