Venture Capital Entrepreneur stream
You must have received at least AUD1 million in funding from an Australian venture capital firm.
The funding must be for the start-up, product commercialisation or business development of a promising high-value business idea.
The venture capital firm must be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). AVCAL has information about the venture capital category of membership in its Venture Capital entrepreneur visa factsheet.
You must have entered into a formal agreement with the venture capital firm for the funding.
· meet the requirements of your venture capital agreement after you enter Australia
· have a genuine and realistic commitment to continuously maintain an ownership interest and engagement in your business and/or investment.
To meet the South Australian nomination requirements you must:
Meet DIBP 132 VCE stream criteria.
Intend to live in South Australia
Have a viable business idea approved for a minimum AUD $1,000,000 from a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL) for a business venture in South Australia. The venture must be of exceptional economic benefit to South Australia with intellectual property to be registered in Australia.
Agree to register your arrival in South Australia with Immigration SA and maintain current contact details for the duration of your visa.