How to get an Innovator Founder Visa
To be successful in applying for the Innovator Founder visa, formally called the Innovator Visa, three crucial requirements must be met.
To set up and run an ‘innovative’ business in the U.K., the business must be different from everything else on the market. This means you must ideally not have any competitors with an idea akin to yours in the U.K. market. It must be a new business.
Your idea/business must be endorsed by an endorsing body.
You must have enough savings to support yourself in the U.K, and you must meet the English language requirements.
You must show a business plan and a financial model on Excel to the endorsement committee. Based on the financial model, you must have enough funds to bring the business to a sustainable level you have forecasted in the business plan. The funds do not always need to be in the applicant's bank account. For example: an investor agrees to invest in your business, only upon starting the company. A letter confirming this may suffice.
The endorsing bodies you can apply for:
UK Endorsing services
Innovator International
Envestors Limited
The Global Entrepreneurs Programme GEP. Please note, this endorsing body only provides endorsements for founders that have been invited to participate.
Once your visa is approved, you are given 3 years on this visa. You will need to meet your endorsing body after a year, and after 2 years to show positive progress within the business.
For advice on this visa, contact a licensed immigration advisor here.