Today Immigration Minister David Coleman will announce a Global Talent Independent Program, a new high-skilled migration scheme aimed at attracting the world’s brightest minds. The scheme aims to assist high-tech Australian industries through the introduction of 5000 fast-tracked visas for highly skilled individuals.
The visa is the first example of an attempt to recruit individuals overseas via a permanent Migration Program. While the Department of Home Affairs is currently recruiting highly skilled individuals from world leading institutions such as MIT, Stanford and Oxford, the search is expected to be expanded to more institutions across the globe.
The 500 visa holders will not be included in the annual immigration cap of 160,000 per year, rather they will be a part of the 70,000 skilled migration cap, which is included in the overall intake.
While the government is consulting with a panel of high-achieving Australians to determine which industries will be earmarked for the stream, it appears that it will be limited to five or six. However, Australian companies in the high-growth industries of agtech, fintech, and quantum computing are most likely to benefit.