The Entrepreneur Stream (188 E) is now open for nomination in the state of Victoria and is regulated by a new referral system for identifying start-ups with real potential to be highly profitable.
A group of select Authorized Recommending Partners (ARP) who are very well versed in the Victorian start-up sector has been incorporated into the system to identify, assess and evaluate the present and future potential of the entrepreneurial businesses of all applicants under this stream. Among these new ARPs, Hatch Quarter has an established track record for lending its research tools and expertise to excelling start-ups with key areas of interest in data-driven technology.
Other partners include Melbourne Accelerator Program (MAP), endorsed by the University of Melbourne and has raised 250 million for 240 small ventures. Translating Research at Melbourne (TRAM), another Melbourne University backed entrepreneurial research institution, and LaunchVic, reputed as Victoria’s top entrepreneurial agency have effectively created echo chambers for diversity in entrepreneurial ideas and lends financial assistance to small ventures with immense potential to profit and serve the Victorian economy.
What does this mean for visa applicants under the Entrepreneur stream?
For applicants to be granted Victorian state nomination under the Entrepreneur stream (Subclass 188 E), their start-up must be referred to by the ARP to the state of Victoria first.
Any Authorized Recommending Partner will have the choice of referring an applicant for Victorian state nomination if they deem that the applicant’s entrepreneurial venture has great potential for profit and to serve the Australian economy.
What do our expert migration consultants predict about this update?
Our migration experts at Bridging West have gained years of experience in working with applicants under the Entrepreneur stream (Subclass 188 E) and observe that a referral system can be very efficient at identifying the strengths of the applicant’s entrepreneurial venture very much early on in the process of visa application. This can greatly reduce the chances of the businesses failing once it has been established in Australia. Our experts predict that visa applicants who are referred by the ARP can be more optimistic about securing permanent residency (PR) for themselves and their family due to their start-ups having higher chances for success in the flourishing Australian entrepreneurial industry.
Bridging West is a leading Australian Registered Migration Agency that has helped lots of businessmen migrate to Australia in the last 17 years. If you want to check your eligibility for Australian Business Migration, please fill up this form. We will get back to you as soon as possible.