[angusgr]

I know it's at a different scale, but I'd be interested to know what Australian HNers think of the New Enterprise Incentive Scheme: http://www.deewr.gov.au/Employment/JSA/EmploymentServices/Pa...

(In short: program runs via Centrelink to give 13 weeks small business training then 52 weeks of income support allowance while you start a business. Available to anyone who would otherwise be eligible for an unemployment allowance.)

I'm told the business training is very simplistic, but from what I understand they will accept people looking to start any business.

Getting just enough to scrape by for 12 months while focusing on your business seems like a good opportunity to me.

[Joakal]

I tried to get into it. They have wanted solid metrics, customers willing to buy, etc. And I haven't even started my project because I was in middle of university. I later decided to bootstrap, gut a lot of stuff and continue doing university.

Although they'll pay and train you once you get in, there's no assistance if you wanted to bootstrap. The person was very nice but said while it's a pretty novel project and nationally beneficial, that's how the program is at the moment.

It seems like they only wanted to fund small competing businesses, not innovative businesses.

You would be more better off with this scheme:

http://www.commercialisationaustralia.gov.au/

[abrimo]

I remember someone on Silicon Beach said they went through it. It sounded good so I had a look and called up about it however you aren't allowed to launch your business until you complete the program. It also seems geared towards small local businesses (e.g. businesses must be 'not competing directly with existing businesses').

However I like the idea behind it. I was even thinking of some program similar to the way university is funded (HECS scheme) that provides interest free capital (maybe right after you finish uni) to explore starting a business. After spending 4 years at uni, an extra year to learn and explore business ideas would be very rewarding even if you end up working after that.

[scheff]

A mate did it and said that you need to have a winning business plan that shows evidence that you would become self-sufficient almost immediately. That's not to say that it wouldn't work in the case of tech startup, it's just less likely.