Thinking about applying for an innovator Visa UK? In this article we are going to discuss the first of three things that you need to demonstrate to make a successful application for a UK Innovator Visa. The information will also be relevant if you are intending to apply for a U Startup Visa.
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So let’s get right to it. The 3 things you need to demonstrate are Innovation, Viability, and Scalability. For brief descriptions on each of the terms click here. We are going to go over each of these in turn, starting with Innovation today.
‘The applicant has a genuine original business plan that meets new or existing market needs and/or creates a competitive advantage.’ – Definition of the Innovation Requirement.
Let’s think about this for a moment.
If you have been thinking previously about applying under the old Tier 1 Entrepreneur Visa all you needed to do was invest in a an existing or new business in the UK but it did not necessarily have to be new. It could have been investment in an existing franchise. Here is where you have to be a little careful with terminology.
Franchises are invariably world-wide successful businesses at least on a national level. They have an existing model they have a prototype which can then be replicated. If you are buying into an existing franchise then by its nature it’s not necessarily something new. There are possible exceptions to this rule but franchises are not generally going to cut it.
Now it may be that you are planning to set up your own franchise. That might be o. But really in innovation they are going to be looking for something probably in the tech space. Every business needs digital marketing plan and a website etc. that’s a given. But most innovation today you will see in the tech space and from our experts’ opinion at SmartMove2UK we believe that the innovation criteria is generally going to be easier to satisfy if you are doing something which has a digital element.
We are currently working with a client who is looking at launching a project designed to create and build communities. What our lawyers are doing is working the nature of the project into something much more digitally focused; about building online communities. Now this would undoubtedly manifest itself in the form of physical meetings at community centers events and one to one interactions. But you need to be seen in some kind of connection with the digital world.
Are there exceptions to this? Well it might be that you do not have a digital business but there’s some unique IP (Intellectual Property) which makes the case for innovation. However these would have to be framed in a coherent application case by a skilled case worker in order to get an innovator visa application approved. To know more about the digital industry in the UK send an email to email@example.com with subject line “Digital”.
For details on how are experts can assist you with the scalability and viability factors of the Innovator Visa UK stay tuned with parts 2 and 3 of Applying for an Innovator Visa UK. For assistance with your innovator or UK startup visa application just will out the form to the side and one of our associates will be in touch with you shortly. We have our offices in Mumbai, Delhi, Bangalore, Chandigarh, and London.
Stay tuned and know more about UK Innovator Visa Application Process Part 2.