A successful record of entrepreneurial activity will be measured by a combination of key success factors and supporting success factors. You will need to demonstrate the completion of at least two key success factors or a combination of one key success factor and three supporting success factors.
Key success factors include:
- 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.