New 188E visa (Business Innovation and Investment (Provisional) – Entrepreneur stream)
Updated: Sep 14, 2021
f you have a new innovative idea or invention that can be commercialised and received at least $200,000 funding (or must be endorsed by a state or territory after 1 July 2021),
State nomination requirements
You must meet the Home Affairs requirements for the Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream.
You must be under 55 when you are invited to apply for the Business Innovation and Investment (Subclass 188) visa.
You must be accepted by a NSW Startup Accelerator Program or Startup Incubator Program.
Accelerators and Incubators include (but are not limited to):
Stone and Chalk
Future Transport Digital Accelerator
Microsoft ScaleUp Program
Tank Stream Labs
The Founder Institute
Funding from a third party
You must prove that you have adequate funding secured to complete the project from an approved entity which includes a:
Commonwealth Government agency
NSW government agency
Publicly funded research or innovation organisation
Higher education provider specified as a Table A or Table B provider under Part 2-1 of the Higher Education Support Act 2003, or
Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership
You must submit a business proposal that clearly demonstrates how your innovative ideas or inventions will benefit NSW, and how you intend to commercialise your product or service and develop your enterprise or business.
You must also clearly show that you have:
completed a proof of concept (e.g. customer interviews, surveys, or focus groups)
a potential business customer (B2B) or business channel to market (B2C)
a scalable solution that can be deployed to multiple customers
the IP or the rights to commercialise
Living and working in NSW
You must have a genuine and realistic commitment to permanently live and work in NSW, and continue to contribute to NSW through entrepreneurial activity. Thus, your proposed business must:
be headquartered in NSW, and
have a NSW registered ABN