Several organizations are trying to increase the number of business start-ups in Hawai‘i. From seed funding to business incubators, more resources are slowly becoming available. Across the Pacific, governments are floating some other ideas to achieve the same goals. HPR’s Bill Dorman has details in today’s Asia Minute.
If you’re a technology entrepreneur with an idea that can create jobs, the government of New Zealand would love to hear from you. And there might be a visa in it for you.
On Friday, the Wellington government announced it will offer up to 400 “Global Impact Visas” over the life of a four-year pilot program. To be granted a 3-year visa, you’ll need some financial investment commitments, and be able to show that your plans will “have an impact on innovation in New Zealand.” The country’s Immigration Minister says the visas will “help expand the pool of smart capital by attracting individual investors and entrepreneurs to live here in New Zealand.”
Critics are already saying the program is a good start, but doesn’t go far enough. The inevitable comparison is Australia…which announced a similar visa program in December. But the Australian version goes further---including a series of tax breaks for startups and tax rebates for early-stage investors---as well as other measures.
Both countries are trying to diversify their economies. Australia is eager to broaden its base beyond commodities and particularly mining. New Zealand officials want to push beyond the dairy industry—which has been hurt by recent drops in global prices. Policy makers in Australia are asking the public for ideas about its visa program before it takes effect in November.
