Aiding innovation and entrepreneurship through migration policy: A view from Australia

Khanh Hoang ()
Additional contact information
Khanh Hoang: ANU College of Law, Australian National University

No 1003539, Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences

Abstract: In recent years, there has been significant interest internationally in the role that migration law and policies may play in aiding innovation, entrepreneurship and economic growth. Several countries, including Australia, Canada, the US and Singapore have established various investment and entrepreneur visas aimed at attracting foreign investment and human capital in return for permanent residency or citizenship. This paper analyses the effectiveness of Australia?s migration policies in strengthening its innovation system and provides suggestions for reform. It identifies shortages in venture capital and access to overseas entrepreneurial talent as two urgent areas for reform of the innovation system. Australia?s visa offerings under its Business Innovation and Investment Program - such as Significant Investment Visa (SIV) program and the Venture Capital Entrepreneur Visa - have so far failed to address these shortages. The paper draws on experiences from other jurisdictions to suggest avenues for reform of Business Innovation and Investment Program. These reforms could include: widening the ?complying investment? criterion for significant investor visa; mandatory investment in venture capital funds, with matching from the Government; and reducing onerous threshold criteria for entry into Australia as an entrepreneur. These proposals for reform, and Australia?s experiences, may provide lessons for other countries seeking to establish similar investment visa programs.

Keywords: migration; innovation; investment; entrepreneurship (search for similar items in EconPapers)
JEL-codes: K00 (search for similar items in EconPapers)
Pages: 1 page
Date: 2015-05
New Economics Papers: this item is included in nep-cse, nep-ino, nep-mig and nep-sea
References: Add references at CitEc
Citations:

Published in Proceedings of the Proceedings of the 15th International Academic Conference, Rome, May 2015, pages 449-449

Downloads: (external link)
https://iises.net/proceedings/international-academ ... =10&iid=071&rid=3539 First version, 2015

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sek:iacpro:1003539

Access Statistics for this paper

More papers in Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences
Bibliographic data for series maintained by Klara Cermakova ().