Start-ups get easier access to overseas tech talent

Australian start-ups will have easier access to global talent under the new Global Talent Scheme (GTS) visa stream pilot program.

The new scheme, which came into effect on 1 July, will allow qualified start-ups to sponsor up to five high-priority visas per year, which will not need to match up to existing skills shortage lists.

The four-year visas will include a path to permanent residency for visa holders.

Start-up visas will be fast-tracked, with processing expected to take between 17 and 30 days. Start-ups must pass an initial assessment to prove they are a legitimate business and must demonstrate that they have searched in Australia for talent to fill the role.

The scheme will also allow established businesses to extend 20 visas per year with more flexible criteria than existing TSS visas.

Due to advocacy from the start-up sector, start-up visas will have a minimum income threshold of just $80,000, compared to $145,400 for established businesses.

In a statement, industry body StartupAUS welcomed the new visa scheme and its special criteria for start-ups.

“This is great news for start-ups, who regularly tell us that talent is the single biggest factor limiting their growth. But this is also the first time anything like this has been tried in Australia, and as such it’s up to us to make sure that the scheme is a success and the pilot leads to a permanent program,” the statement reads.

“The bottom line here is that we as a sector voiced our concerns loudly and clearly, and they've been answered. A visa scheme tailored uniquely to start-ups — one that considers equity as part of a salary package and can be turned around in a few weeks — is an Australian first, and something that could be very valuable to our sector.”

Image credit: ©iStockphoto.com/OJO_Images

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