📅 June 07, 2022

9 Facts about the Startup Ecosystem in Australia and New Zealand

Authored by Paula Vazquez

Visa
9 Facts about the Startup Ecosystem in Australia and New Zealand

If you want to set up a business in a foreign country, Australia and New Zealand are excellent options as they have a high GDP per capita. Australia, on its own, is one of the highest countries in wealth whilst New Zealand has a very high investment in research and development. You can apply for one of the following start-up visas in the region:


Australia Entrepreneur Stream Visa


Australia is a world-leading economy in a great extension of diversity and land. If you want to carry out entrepreneurial activities in this country, you would need to apply for the Entrepreneur Stream Visa (188). It allows you not only to set up a business but also to stay for up to 5 years, and bring your family members with you. 


Here you can know more about this Australian visa.



  1. Why startup a business in Australia? Australia has one of the most stable economies in the world, for instance, in 2021, the GDP exceeded its pre-pandemic growth rate, and the government is already working to recover from Delta lockdowns. Moreover, Australia has a close integration with Asian economies, which causes wealth creation in the region. 
  2. What does the startup ecosystem look like in Australia? Entrepreneurs can benefit from Australia’s educated workforce, government grants, and the city of Sydney’s dynamism since it is the home of several incubators and accelerators. From 2017 to 2019, The Sydney Startup Hub Started and generated more than $280 million dollars in investment and over 1000 jobs in its first 2 years in operation. The startup ecosystem value in Sydney is $13.4 billion of dollars. 
  3. Does the government of Australia offer any funding to startups? The Australian government supports startups with grants which usually prefer tourism, renewable energy, and exports. Some of the most popular grants and programs are The Entrepreneurs’ Programme, iLab Startup Incubation, No Interest Microcredit Loans, and The Advancing Renewable Program.
  4. Can I get permanent residency through this visa? Yes. If an applicant has completed 5 years on the 188 Entrepreneur Stream Visa and fulfilled the obligations of their stay, they can apply for the 888 visa that grants permanent residency.
  5. What are some successful startup stories from Australia? The startup scene in Australia gave birth to famous unicorns such as Canva, which is now one of the most popular creative platforms worldwide, and Freelancer.com. 

 

 

Photo: Photoholgic, Unsplash


New Zealand Start-up Residence Visa


As an experienced business person, you can apply for a Startup Residence Visa in New Zealand to establish a business in the country. The common path is to begin on an Entrepreneur Work visa that allows you to move to New Zealand and buy or establish a business. If you qualify, after six months or two years you can change to the Entrepreneur Residence Category. 


Click here to know more about this visa for New Zealand or hire an Immigration Expert.


  1. What does the NZ startup ecosystem look like? There have recently been foreign investments that have increased the chances to acquire early-stage funding. Some of the sectors that are mostly thriving are: deep tech, as 42% of investment in 2020 went to related companies; Medtech/biotech, climate tech, and crypto and blockchain. 
  2.  Does the government of New Zealand offer any funding for startups? There are funding, support, and mentorship programs: Regional Business Partner Network, which supports small businesses; Callaghan Innovation, aimed at tech startups and tech-growth companies; Business Mentors New Zealand (BMNZ), which provides six-month help for startups.

 

Photo: Ömer Faruk Bekdemir, Unsplash



New Zealand Global Impact Work Visa


This very special visa allows entrepreneurs and investors that had been previously accepted into the Edmund Hillary Fellowship to work, study and live in New Zealand and establish or support innovative ventures there. You can apply for permanent residence after 30 months if you are still part of the EHF. 


  1. Can I bring my family with me to New Zealand under this visa? No, but they can apply for other visas according to their relationship with you if they meet residence health and character criteria. 
  2. What is the Edmund Hillary Fellowship? It is an initiative born in 2014 that creates a community of entrepreneurs, investors, and startup teams by providing them with a platform. Its mission is to incubate ventures from Aotearoa New Zealand and push innovation and creativity in business.


To apply for family reunification visas in New Zealand with a verified immigration Expert, click here.

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