Driving Innovation with the Business Innovation Visa in Victoria
Are you an entrepreneur or startup founder who is looking to drive business innovation in Victoria? The Business Innovation Visa is designed to bring skilled and innovative entrepreneurs to the state, creating jobs, driving innovation, and boosting the economy.
The Business Innovation Visa is a pathway to permanent residency for individuals who have innovative business ideas and the skills to bring them to the market. Successful applicants receive a provisional visa for four years, which can be extended if the business is successful. After the provisional period, applicants can apply for permanent residency.
Why the Business Innovation Visa Matters for Victoria
Victoria has a strong focus on innovation and technology, which makes it the perfect place for entrepreneurs to establish and grow their businesses. The Business Innovation Visa program is one of the initiatives that the state government has put in place to attract entrepreneurs and drive innovation in the region.
The program has been highly successful since its launch in 2012. As of June 2020, over 2000 visa applications have been lodged, and the program has assisted in the creation of more than 1000 jobs. The visa holders have also raised over $180 million in capital, demonstrating the success of the program and the quality of the ideas driving it.
How the Business Innovation Visa Supports Entrepreneurs
The Business Innovation Visa program provides support and resources to entrepreneurs, helping them to establish and grow their businesses. Visa holders have access to a range of benefits, including:
– Funding opportunities: There are a range of funding opportunities available to visa holders, such as grants and incentives, which can help to fund research and development, market entry, and talent acquisition.
– Business support: Visa holders can access business support services, including advice on business strategy, marketing, and expansion. This support can help to overcome common challenges faced by startups and entrepreneurs.
– Networking opportunities: Visa holders can connect with other entrepreneurs, investors, and industry experts, which can help to build valuable relationships and open up new business opportunities.
Success Stories of the Business Innovation Visa
The Business Innovation Visa program has supported a range of successful startups in Victoria. One example is Culture Amp, an employee feedback platform that has raised $35 million in funding and employed over 200 people. The founders of Culture Amp, Didier Elzinga and Jon Williams, were Business Innovation Visa holders.
Another success story is Brosa, an online furniture retailer that has raised over $10 million and employed over 100 people. Brosa’s co-founders, Ivan Lim and Richard Liang, were also Business Innovation Visa holders.
Conclusion
The Business Innovation Visa program is driving innovation in Victoria by attracting skilled and innovative entrepreneurs to the state. It provides support and resources to entrepreneurs, helping them to establish and grow their businesses, and offering networking opportunities to build valuable relationships. The program has been highly successful, with over 2000 applications lodged and more than 1000 jobs created. With the program’s ongoing success, the future looks bright for innovation and entrepreneurship in Victoria.
