Supporting Innovation in South Australia

The Hon. D.G.E. HOOD (14:39): Big smile. Look, big smile. My question is to the Minister for Trade, Tourism and Investment. Can the minister inform the council about the exciting launch of the Supporting Innovation in South Australia visa, which is exclusive to our state of South Australia?

The Hon. D.W. RIDGWAY (Minister for Trade, Tourism and Investment) (14:39): I thank the honourable member for his ongoing interest in growing the state's economy and the entrepreneur sector. In fact, last week, at the SouthStart technology and entrepreneur conference, the Premier launched a key election commitment, our entrepreneur visa, which will attract some of the sharpest minds in the entrepreneurial world to establish their start-ups in South Australia.

Officially known as Supporting Innovation in South Australia, this is a bold new federal government visa arrangement that is exclusive to South Australia, having been negotiated in opposition and now delivered in government. The program will run for three years, with the federal government to look at a possible national rollout from 2020.

We are very proud of this visa, which goes to show what can be achieved when we work constructively with our federal counterparts. The new visa arrangement builds on our plan for an innovation, incubator, start-up and growth hub at Lot Fourteen, the site of the former Royal Adelaide Hospital.

We expect the visa scheme will attract up to 30 budding young entrepreneurs to the state in the first year and up to 100 in the next year, who will be encouraged to develop their innovative ideas into start-up businesses. To be successful, applicants will need endorsement from South Australian innovation ecosystem providers or the Office of the Chief Entrepreneur. Successful applicants will be nurtured in South Australia's local innovation ecosystem to help build a successful new business and grow jobs in our great state.

Importantly, unlike previous visa classes in this area, the new visa arrangement does not require applicants to demonstrate a minimum funding of $200,000 for approval. The success of their application will ultimately rest upon the quality of their start-up and idea, and the soundness of their business plan. Entrepreneurs can be focused on a variety of industries. However, we will be looking favourably at applications that relate to the state's emerging industries, such as defence and space, cybersecurity, big data, agribusiness, health and medical technology, robotics, film and media.

Five local co-working organisations, accelerators and incubators, in collaboration with the Office of the Chief Entrepreneur, will implement the pilot. The five organisations are CO-HAB, the Innovation and Collaboration Centre of the University of South Australia, the Moonshine Lab, the New Venture Institute at Flinders University and ThincLab at the University of Adelaide. Applications for the program will be processed by Immigration SA, in my department, along with the federal Department of Home Affairs. The entrepreneurial program will then be delivered by the Department for Industry and Skills and the Office of the Chief Entrepreneur.

I want to thank the federal Minister for Immigration, the Hon. David Coleman MP, and his department for their hard work in developing the framework and regulations around this pilot program. Having a visa unique to one state is virtually unheard of, and we are very grateful for the confidence they have shown in South Australia by granting us this pilot.

Also, many thanks to the hardworking staff in Immigration SA for their great work in implementing this key priority for the Marshall Liberal government. Your hard work is greatly appreciated. I look forward to hearing of the great success stories it facilitates in the months and years to come. People interested in applying for the visa or finding more details can do so via the Immigration SA website.