To be eligible to apply for an innovator visa you will need to meet certain requirements. The first and foremost is your business plan which has to be accepted by Uk Visas and immigration approved endorsing body. Endorsing bodies can include incubators, accelerators, government agencies and business development organisations that have a proven track record of supporting UK entrepreneurs or can prove a connection to another body with its own track record.
Endorsing bodies will be responsible for issuing endorsements to the applicants by assessing their business venture, staying in touch with the applicant to monitor their progress and issuing further endorsements where relevant.
Endorsement letters are valid for 3 months. If an individual is unable to make a visa application within this timeframe, you will need to issue them with a new endorsement (using a new secure reference number) before they can apply. You should have a discussion with them (as set out above) before you do so. Your business proposal is assessed against the following.
3 key criteria:
- Innovation criteria – Your business must have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage.
- Viability criteria – Your business has, or is actively developing, the necessary skills, knowledge, experience, and market awareness to run successfully and meet future objectives.
- Scalability criteria – You have evidence of structured planning and potential for job creation and growth into national and international
Innovation criteria
- How is the business offering something more than merely competing with similar local traders?
- Explain how there is a need for the business in the UK market that is not already being fulfilled.
- Explain how your idea provides something new to the pre-existing UK/global business market.
Viability criteria
- Show evidence of market research you have undertaken and summarise the data
- Do you have realistic, sustainable, product/service goals? If you do, please provide evidence.
- Is there a long-term plan for the business, please explain? Please also provide copies of any relevant plans.
Scalability criteria
- Can you explain how the business is likely to gain sufficient traction?
- Does your business have the potential for growth? Please explain why.
- Can your business successfully scale to be a part of the national (as where applicable to the International Market? Please explain how.
Endorsement application
There are two stages to obtaining an endorsement, the submission of documents and an interview.
With respects to submission you must submit:
- Your business plan, throughout which you should highlight the viability, scalability and innovation of your business.
- All relevant documents relating to your business.
- Relevant supporting letters from people in your business area.
Following this, there may be an interview during which officials will review your business plan and ask questions regarding potential weaknesses in your application.
This can be a daunting process, but our legal experts will work with you through every step of this process providing you with the best recommendations to strengthen your business plan.
Disclaimer:
The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Connaught Law and authors accept no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please don’t hesitate to contact Connaught Law. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Connaught Law.
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