19 March, 2018
Pilot Global Talent Scheme A Significant Step Forward for High Growth Technology Companies
Australia, 19 March 2018: Australia’s peak national startup group, StartupAUS, today welcomed the Federal Government’s proactive approach to helping startups access international talent through the Global Talent Scheme (GTS) which will be piloted for 12 months from July 2018 to June 2019.
StartupAUS CEO Alex McCauley hailed the changes as a breakthrough for high growth tech companies.
“Being able to access the right kind of talent quickly is the core challenge for fast-growing technology companies and startups in Australia. A little while ago the Government flagged it wanted to do more to help trusted businesses access visas quickly and easily. Typically in Australia that would mean big, established businesses. Thanks to input from StartupAUS and others, there’s now a ‘startup stream’ which will help genuine startups access these new favourable arrangements too. That’s a real win for the sector and for companies looking to hire top quality global talent to help them grow. It’s encouraging to see the Government has really listened on this”, he said.
“These changes should help young Australian tech businesses compete more effectively on the global stage. That will allow them to grow quickly and hire more Australians across the business. It’s a good bet that everyone hired on one of these visas will be a net job creator for Australians.”
Mr McCauley added that including equity in salary considerations for startups was a step forward, saying “we’ve been making the case for a long time that startups need to be treated a bit differently in situations like this. When you’re looking at how much startups are prepared to pay people, you have to take equity into account. Just about every startup in the world uses equity as a lever to help attract top talent, so you can’t ignore it. The Government has listened to us on that one, which is a very positive sign.”
Mr McCauley also noted that it would be important for government and industry to work closely together to identify startups which qualify for the scheme.
“As part of the vetting process for this and future pilot schemes, startups will need to be identified by an expert group, which is working closely with the startup community. The important thing is that there remains close industry collaboration and consultation.”
According to LinkedIn data, prepared for TechSydney and StartupAUS in their 15 September 2017 “Visa Simplification Policy Consultation Paper” submission, high-tech and finance companies led 2017 hiring (from January-August 2017), accounting for 44 per cent of hires; followed by manufacturing (9 per cent), educational (7 per cent) and government (6 per cent).