Supporting Innovation in South Australia is a new visa arrangement being piloted to attract foreign entrepreneurs to South Australia.
Under this initiative, foreign entrepreneurs with an innovative idea and a supporting business plan will be able to apply for a temporary visa to take forward their venture in South Australia.
Applicant’s proposals will be vetted by State or Federal Government entities in partnership with local incubators and accelerators.
Entrepreneurs who are successful in establishing their business venture in South Australia will become eligible to apply for permanent residence.
The South Australian Government is working with the Department of Home Affairs on the implementation details for the visa which will be available in the 2018-19 program year. This initiative is being piloted in South Australia before a national rollout in 2019.
The Research, Commercialisation and Startup Fund supports collaboration between businesses, researchers and universities to solve industrial problems, commercialise new products and services, attract investment into research and research infrastructure into the State and encourage the establishment and growth of startups.
The Research, Commercialisation and Startup Fund has a budget of $27.9 million over four years and will be opening soon.
The $50 million South Australian Venture Capital Fund (SAVCF) is a co-investment fund to help build dynamic and innovative early-stage companies to accelerate their growth to a national and global scale.
The SAVCF is designed to:
The SAVCF requires each initial investment into an eligible company to be matched with at least 50% investment from other venture capital funds, high net-worth’s or other sophisticated investors.
The Space Innovation Fund will support the State’s emerging space industry by providing funding of up $1 million a year over four years to grow jobs and build South Australia’s space ecosystem. The Fund will support training scholarships as well as incubation and acceleration services through the University of South Australia’s Innovation and Collaboration Centre.
For more information visit icc.unisa.edu.au
The Hub will be an environment where:
The Hub will comprise up to 650 workspaces spread across multiple buildings at Lot Fourteen. The Hub will attract startups looking to scale up into fast growing industries, with Lot Fourteen accommodating more established tenants in commercial tenancies across the site.
The Hub will complement existing private and public services and programs, providing a CBD-based front door to individuals, entrepreneurs, startups and growing businesses, and will provide a pathway for networking with regional businesses and innovation hubs. The Hub will be a place that supports all stages of business development, including research and development, commercialisation, startup and scale-up stages.
The Government is currently working to select key anchor tenants (co-working / incubator organisations) to operate the Hub. Startups, investors, mentors and service providers can still register their interest in operating from or providing services at the Hub.