New visa program to attract best and brightest entrepreneurs to South Australia

Entrepreneurs with business ideas centred around emerging industries – such as space, cyber security, defence, medical technology and robotics – will be targeted under a new visa program in to be tested in South Australia.

• Stacey Lee: Contrary to eastern cities, Adelaide needs more people
• City deal to trigger old RAH revamp

Entrepreneurs with business ideas centred around emerging industries – such as space, cyber security, big data, defence, agribusiness, medical technology and robotics – will be targeted under a new Australian-first visa program in to be tested in South Australia.

Premier Steven Marshall will today unveil the details of the program aimed at reversing SA’s brain drain by encouraging businesses in emerging industries to call the state home.

Mr Marshall is confident the scheme, which unlike the existing entrepreneur visa, does not require applicants to be backed by hundreds of thousands of dollars, will bring in about 130 highly skilled migrants in the next two years.

The new visa program will target workers skilled in future industries such as cybersecurity, space and medical technology. Picture: Getty Images

It is also seen as an important plank in the State Government’s bid to grow SA’s population, as the Federal Government look to lower the intake of migrants.

“This is a refreshing, innovative and bold drive to attract the world’s best and brightest minds to South Australia to help create new business, industry and jobs,” Mr Marshall told The Advertiser.

“The new visa arrangement build on our plan for an Innovation, Incubator, Startup and Growth Hub at Lot 14 on the site of the former Royal Adelaide Hospital.”

An artist’s impression of development on Lot 14, the old RAH site.

Federal Immigration minister David Coleman told The Advertiser the two-year pilot, which will be rolled out across the country if successful, was part of the Federal Government’s push to attract the best and brightest talent.

“It is just one example of how we can use our immigration program to increase job opportunities and provide incentives for growing businesses of the future,” Mr Coleman said.

His sentiments were echoed by SA Industry Minister David Pisoni, who said the state wanted to have the highest rate of business start-ups and entrepreneurship in Australia within the next decade.

“We expect the visa scheme will attract up to 30 budding young entrepreneurs to the state in its first year, and up to 100 in the next, who will be encouraged to develop their innovative ideas into start-up businesses,” he said.

“Importantly, unlike previous visa classes in this area, the new visa arrangement does not require applicants to demonstrate a minimum funding of $200,000 for approval; the success of their application will ultimately rest upon the quality of their start-up and idea and the soundness of their business plan.”

The announcement comes as Cities, Urban Infrastructure and Population minister Alan Tudge will be in Adelaide today to discuss the state’s population strategy with Mr Marshall and key stakeholders.

“The discussion is going to be centred around ‘how can South Australia grow?’ and ‘what are some of the incentives that can be created to get more people to South Australia?’” Mr Tudge told The Advertiser.

He said it is the government’s plan to bed down the details of its population plan for the country before the Federal Election next year.

Overseas talent will help sell SA teach to the world

SouthStart event director Craig Swann says SA would benefit from attracting more entrepreneurs from overseas. Picture: Simon Cross

The North American director of a major Adelaide conference for entrepreneurs says the state would benefit from an influx of enterprising talent from overseas.

Canadian-born Craig Swann, who runs SouthStart, migrated to Australia a year ago after spending a decade in New York.

“It was difficult for me coming here to go through the visa process and I know I’m no special case,” Mr Swann said.

“If you could get 100 more people from my network here it would be a different environment. We need to find more entrepreneurs that have international business experience, people with an understanding of global marketing.

“It’s really key to find that kind of mindset and perspective to add to the technology we have here.”

Mr Swann, founder of cloud-based music studio Looplabs, said fellowships could be another lure for entrepreneurs.