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In Australia, graduates have several pathways to start a business. Here are some common options:
1. Global Talent Visa
The Global Talent Visa (GTI) focuses on highly skilled individuals, but if graduates have innovative business ideas, especially in sectors like tech or science, they may qualify for permanent residency and develop their business.
2. Temporary Graduate Visa (Subclass 485)
The Temporary Graduate Visa allows graduates to remain in Australia after completing their studies, giving them time to start a business. This visa provides flexibility for graduates to leverage their skills, networks, and resources in Australia to launch a startup.
3. Government-Supported Entrepreneurship Programs
The Australian government, along with state and territory governments, offers various programs to support startups, including incubators, accelerators, and innovation grants. Some examples include:
Entrepreneurs’ Programme: Offers advice, mentorship, and funding for starting a business in Australia.
State Innovation Funds: Each state, such as Victoria’s LaunchVic and New South Wales’ Jobs for NSW, has its own initiatives to fund and support startups.
4. University Startup Support Programs
Many Australian universities offer support for graduates who want to start a business through incubator programs, startup competitions, and mentorship. Examples include:
The University of Sydney’s Incubate Program
Melbourne University’s Translating Research at Melbourne (TRAM) These programs help graduates transform their research or ideas into successful business ventures.
5. Company Registration and Tax Incentives
Registering a company in Australia is straightforward through the Australian Securities and Investments Commission (ASIC). Graduates can take advantage of various tax benefits for startups, such as the R&D Tax Incentive, which helps reduce costs associated with research and development.
6. Entrepreneurship Networks and Investment Opportunities
Australia has a vibrant entrepreneurial ecosystem. Graduates can join startup networks, participate in pitch events, or enter startup competitions to gain visibility and attract investors. Notable examples include:
Startup Victoria
Fishburners (Australia’s largest startup community)
Through these pathways, graduates in Australia can find numerous ways to start a business and receive visa and policy support.
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