What is the Innovator Founder Visa?
The Innovator Founder Visa is an option for entrepreneurs seeking to establish an innovative, viable, and scalable business presence in the United Kingdom. To be eligible for Innovator Founder Visa Route, applicants must obtain an endorsement from the endorsing bodies designated by the Home Office. Upon receiving the Innovator Founder Visa, successful applicants are granted a 3-year leave to operate their business within the UK.
What are the main criteria for obtaining the endorsement for Innovator Founder Visa?
The assessment of Innovator Founder applications revolves around three core criteria: Innovation, Viability, and Scalability. These criteria are defined as follows:
1- Innovation: Applicants must demonstrate a genuine and original Business Plan that addresses new or existing market needs and/or creates a competitive advantage. A clear and compelling unique selling proposition (USP) distinguishes the business from potential competitors.
2- Viability: The Business Plan must be realistic and achievable, taking into account the available resources. Applicants should possess or actively develop the necessary skills, knowledge, experience, and market awareness required for running the business successfully.
3- Scalability: Evidence of a well-structured plan outlining a credible growth trajectory is vital. Furthermore, the potential for job creation and expansion into national markets must be demonstrated.
How Can I Obtain an Endorsement for Innovator Visa?
Throughout the application process, it is imperative to seek endorsement from an endorsing body recognised by the UK authorities. Ensuring compliance with the outlined criteria and providing comprehensive documentation will enhance the chances of a successful application. Each stage, namely the initial application, extension, and settlement, requires endorsement from an approved endorsing body. Our immigration and business consultants can help you prepare for an endorsement application.