Successful record of entrepreneurial activities

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.