As we posted yesterday, the The Business Skills Program will be replaced by the Business Innovation and Investment Program on 1 July 2012.
Business Innovation and Investment is a niche category in Australia’s skilled migration program. It aims to directly create new business as visa holders become business owners.
This is different to the general skilled migration and the employer sponsored visa categories, which aim to supply skilled employees to existing businesses and industries at risk of skill shortages.
The Business Innovation and Investment Program is designed to increase entrepreneurial talent and diversify business expertise in Australia. It is positioned to target migrants that have a demonstrated history of success in innovation and business and are able to make a significant contribution to the national innovation system and to the Australian economy.
Like many Australian Visa’s. Applicants under the business innovation and Investment program will be points tested. In the case of this particular visa, the points test gives points for various elements of human capital and business innovation. The test also includes objective measures of business performance. We’ll provide a further overview of the points test below. […]