Update as follows:
Victoria's Entrepreneur stream (subclass 188E) visa nomination program is now open to start-up founders and co-founders who plan to grow their innovative business ideas in Victoria. To be eligible for this visa, you must be recommended to us by an Authorised Recommending Partner (ARP).
It will be a limited, referral only visa program.
To find out more, see Business Innovation and Investment (Provisional) visa (subclass 188) - Entrepreneur stream
Source: https://liveinmelbourne.vic.gov.au/news-events/news/2022/victorias-entrepreneur-stream-subclass-188e-visa-nomination-update