New Support Packages for the UK Innovator Visa
27/01/2022
In March 2019 the Home Office made sudden and vast changes to Tier 1 immigration routes for business owners and entrepreneurs planning to come to the UK.
The former Tier 1 Entrepreneur and Tier 1 Graduate Entrepreneur visas were phased out with almost immediate effect and replaced with the Innovator visa and the Start-up visa, respectively.
Having monitored the progression of both of these visas since they were announced, we here at White Rose Visas are now ready to reveal two new support packages for those looking to apply for the Innovator visa in the future.
We have developed close relationships with several endorsing bodies and are now able to offer packages which include recommendation to these endorsing bodies.
The Innovator visa exists so that individuals (or groups) are able to set up and run a business in the UK. To qualify for the visa, you must meet a financial maintenance requirement and an English Language requirement similar to other UK visas.
You must also evidence a minimum of £50,000 which you will need to invest into the UK company. If applying as a group, every individual must evidence at least this minimum investment amount to be eligible for the visa. The investment can be provided by third party funds, but this must be shown with very careful evidence.
For further details on these requirements please see our Innovator resources page.
The most crucial requirement for the Innovator visa, and the requirement which makes it very different from the old Tier 1 Entrepreneur route, is the need for every applicant to obtain endorsement before they apply for the visa.
In order for an applicant to successfully apply for an Innovator visa their business idea must be approved by one of the listed endorsing bodies. An endorsing body will provide successful applicants with an endorsement letter. Without this essential document an application cannot be made.
Each of these endorsing bodies has their own individual criteria for business ideas and separate methods of evaluating applications. For example, certain endorsing bodies are only open to businesses in specific sectors, such as tech start-ups or companies innovating in the field of cyber security. Some endorsing bodies are open to more varied business ideas, but are restrictive in other ways, for example, applicants needing to be accepted on to one of their accelerator programmes before endorsement will be offered.
Please see our previous blog post for details on the endorsing bodies and what they are looking for in business ideas.
How do I get endorsed for an Innovator visa?
Though endorsing bodies look for certain ideas specific to their sectors or expertise, they must all review business propositions based on three key criteria defined by the Home Office.
These three key requirements are that the proposed business shows Innovation, Viability and Scalability.
According to the gov.uk published guidance for endorsing bodies, this criteria is defined as follows:
Innovation: Does the applicant have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage?
To be seen as innovative, a business idea must therefore somehow create new market needs through a new product/idea, or meet existing market needs in a unique way.
This uniqueness must also somehow create a competitive advantage compared to businesses which already exist in the target market.
Viability: Does the applicant have the necessary skills, knowledge, experience and market awareness to run the business successfully?
To be seen as viable, a business idea must therefore be pitched by an applicant (or applicants) who have the appropriate experience to manage the business.
For example, the applicant could have operated a similar company abroad, or have been extensively trained in this particular sector.
Scalability: Is there evidence of structured planning and of potential for job creation and growth into national and international markets?
To be scalable, the business idea must not only show how it can expand across the entire UK, but also show plans for it to eventually scale to an international level. It must also show the capacity for UK job creation.
To appropriately show that your business idea meets these three criteria you will be expected to provide a full business plan to the endorsing body. Some endorsing bodies will require even further evidence in the form of pitch decks or other supporting documents.
Many of the endorsing bodies will also require the applicant to participate in an interview where they must explain the nature of their business idea as well as their personal business experience.
It’s important to note that if you are applying as a team for the Innovator visa, each applicant must be individually endorsed in their own right by an endorsing body in order for the team to be eligible. This means that even if the business idea your team has conceptualised meets the criteria in the eyes of the endorsing body, each team member must have viable experience to contribute to the business to ensure they are endorsed.
Where can I receive help with my Innovator endorsement application?
With so many endorsing bodies to choose from and the confusing nature of the requirements for every business idea, we’ve found many applicants require assistance with both the endorsement and visa process.
Here at White Rose Visas we have worked with clients from numerous different countries through both the old Tier 1 business routes and for the Innovator and Start-up visas. Our clients have successfully established businesses in sectors ranging from consultancy, technology and F&B to manufacturing, healthcare and business services.
Having worked with clients possessing such a diverse array of business ideas, we are able to consult on which ideas are likely to meet the Innovator criteria or what changes would be necessary to do so.
We are pleased to announce that we will be launching two new support packages for potential Innovator applicants, to ensure there is an option for every future UK business owner.
Our two new package options for the Innovator visa are as follows:
Standard Innovator / Start-up Package: £1290 & VAT (at time of writing) - to include assessment of initial business idea, recommendation to endorsing body plus processing of visa application.
Enhanced Innovator / Start Up Package: £3790 & VAT (at time of writing) - to include full support throughout application to endorsing body including provision of business plan and interview preparation plus processing of visa application.
Our standard package has been designed for those who already have a business plan written for their business and only require assistance with the selection of an appropriate endorsing body and the processing of the visa application itself.
Our enhanced package has been designed for those who require a more comprehensive support package.
It includes a full business plan written with the Home Office criteria in mind, and an interview to prepare applicants for their interview with their chosen endorsing body.
This full support will also include, where appropriate, our correspondence with endorsing bodies to express your suitability to establish the business in question in the UK. Many of our current immigration advisers have previously been responsible for conducting Tier 1 Entrepreneur interviews with applicants when this process was handled by the Home Office and not endorsing bodies.
As such, they are directly aware of the questions you should anticipate receiving from your endorsing body and can ensure you are fully prepared for them, whilst also providing extensive feedback on your interview preparation performance.
Here at White Rose Visas we have close connections with some of the listed endorsing bodies, and are able to present your idea directly to certain potential endorsing bodies.
We are also able to assess whether you are better suited to applying for the Innovator visa or to the Start-up visa.
If you are a current business owner or entrepreneur hoping to bring your business to the UK, please contact us directly and our immigration advisers will be able to assess your case and recommend the support package best suited to your situation.
