What are the main differences between the Innovator and the Innovator Founder visa routes?

The Innovator Founder route has recently replaced the old Innovator visa. Here are the main differences that potential applicants should be aware of.

What is the UK Innovator Founder route?

The new Innovator Founder route was launched on 13 April 2023 and is aimed at overseas entrepreneurs who wish to establish an innovative business in the UK.

What are the main differences?

• No more minimum investment requirement.

The new route does not require a minimum investment of £50,000. However, you may still need to show that you have the level of investment necessary to set up and grow your business in addition to having access to funds to support yourself in the UK.

• Permits secondary employment or study

Under the Innovator Founder route, applicants can now pursue secondary employment or education as long as it does not interfere with running their innovative business. It must also be noted that secondary employment must require a skill level of not less than UK A-levels.

What are the Requirements

To apply for the Innovator Founder route, you must obtain an endorsement from a recognised endorsing body. You must be able to demonstrate that your business idea is:

• New

You cannot join a business that is already trading.

• Innovative

You must have an original business idea which is different from anything else on the market.

• Viable

Your businesshas potential for growth.

• Scalable

You must give evidence of planning that includes creating jobs and growing into national and international markets.

Can I still apply under the old routes?

The introduction of the Innovator Founder marks the closure of the old Innovator and Start up routes, with holders of the old visas being able to switch to the Innovator Founder route if they qualify.

Only those having received an Innovator Founder visa will be able to rely on the changes. Visas obtained under the old rules remain subject to these.

How Gherson can assist

Gherson’s Immigration Team are highly experienced in advising on UK visa matters. If you have any questions arising from this blog, please do not hesitate to contact us for advice, send us an e-mail, or, alternatively, follow us on Twitter, Facebook, Instagram, or LinkedIn to stay-up-to-date.

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. Gherson accepts 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 do not hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.

©Gherson 2023

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