This visa is the second stage of Business Innovation and Investment (Provisional) visa (subclass 188) which allows you to seek permanent residency by continuing to invest or start a new business or to manage an existing business in Australia.
This Visa requires you to submit an Expression of Interest (EOI) through skill select and be nominated by a state or territory government or astride on behalf of the Australian government.
If you are applying this visa after Business Innovation and Investment (Provisional) visa (subclass 188) then you may need to provide evidence that the government entity which nominated you for that visa has not withdrawn the nomination.
This visa allows you to
You might be able to get this visa if you are nominated by a state or territory or the Australian government; and