New visa for VC-backed entrepreneurs introduced

29th May 12

25 May 2012
Minister Bowen announced reforms today to the Business Skills program - now named the Business Innovation and Investment program. These reforms start from 1 July 2012. They include the introduction of a new Business Talent visa to facilitate the entry of migrant entrepreneurs with a high-potential business idea. Migrant entrepreneurs must have sourced at least AUD1 million in venture capital funding through an AVCAL member. The funding should be provided for early phase start-up, product commercialisation, or business development and expansion.

 

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