You can apply for 888 Entrepreneur (E) only if you have been in Australia and held your temporary visa in the Entrepreneur stream for a consecutive time of at least four years immediately before you apply.
Moreover, you must be able to prove a flourishing history of entrepreneurial activities in Australia.
A history of entrepreneurial activity will be included by a mixture of important achievement factors and maintaining success factors. You will need to show the fulfilment of at least two principal success circumstances or a mixture of one key success factor and three supporting success circumstances.
Important success circumstances involve:
- Employing two or more Australians, permanent residents or other eligible persons
- Generating an annual turnover of at least AUD300 000
- Filing a provisional patent or acquiring a standard or innovation patent
- Receiving ongoing funding or investment in your entrepreneur activity
- Entering into a partnership with a University
- Selling an entrepreneurial venture for AUD2,000,000.
Supporting success factors include:
- Diversifying entrepreneurial activities into other business areas
- Receiving a statement of success from a state or territory government nominator
- Receiving sponsorship from the corporate sector
- Starting at least one other business or contributing to at least two other businesses
- Receiving formal awards or recognition
- Raising or contributing to social capital.
Entrepreneurial activities in Australia must not be in one of the following categories:
- Residential real estate
- Labour hire
- Purchase of an existing enterprise or a franchise in Australia.
