Good news for Australia’s STEM start-ups! From 7 December 2024, these innovative businesses will have a new way to attract the talent they need.
Thanks to a new initiative, STEM start-ups that have received venture capital funding from a registered Early Stage Venture Capital Limited Partnership (ESVCLP) can now apply to be an accredited sponsor. This new measure is designed to help start-ups bring in the skilled workers they need to fuel innovation and growth.
What Does This Mean for STEM Start-ups?
For eligible start-ups, becoming an accredited sponsor means they can fast-track the hiring process for skilled workers from overseas. Accredited sponsors will receive priority processing for the following visa applications:
- Skilled Employer Sponsored Regional (Provisional) (subclass 494) visa
- Temporary Skill Shortage visa (subclass 482)
This is a major win for start-ups in the science, technology, engineering, and mathematics (STEM) fields, as it allows them to bring in highly skilled workers more quickly.
The priority processing won’t stop there. Even when the Temporary Skill Shortage (TSS) visa is replaced by the new Skills in Demand (SID) visa on 7 December 2024, accredited sponsors will continue to benefit from faster visa processing.
What’s the Process for Accreditation?
Before a STEM start-up can be approved for accredited sponsorship, they must first be recognised as a standard business sponsor. Once that’s out of the way, the company can apply for accreditation and gain the benefits of priority visa processing.
However, becoming an accredited sponsor is not an automatic process. The government has tightened the accreditation requirements to ensure that only genuine businesses are approved.
This means that start-ups must meet strict conditions and comply with the sponsorship obligations to maintain their accredited status.
What Changes to Sponsorship Obligations?
From 7 December 2024, there are also some important updates to sponsorship obligations that will affect temporary visa holders.
One of the key changes is that employers won’t be required to ensure that sponsored employees continue to work in their nominated occupation once they leave their sponsor’s employment.
This update is a game-changer for sponsored workers. Temporary employer-sponsored visa holders who stop working with their original employer will have more flexibility. They now have:
- Up to 180 days at a time to find a new sponsor
- 365 days across their entire visa grant period to either find a new sponsor, apply for a different visa, or leave Australia
This change gives workers more time to adjust to the labour market and find the right opportunities, making the process more flexible for both employers and employees.
How Can CIA Lawyers Help?
With these changes, start-ups and skilled workers alike have a lot to consider. At CIA Lawyers, we specialise in immigration law and can help you understand the ins and outs of these new sponsorship processes.
Whether you’re a STEM start-up looking to bring in top talent or an individual looking to make the move, we can guide you through the application and ensure you meet all the necessary requirements.
The new accreditation system promises to help Australian start-ups access the skilled workers they need to grow. It’s an exciting time for innovation in Australia, and we’re here to make sure you don’t miss out.
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