{"id":9418,"date":"2019-10-31T12:26:31","date_gmt":"2019-10-31T12:26:31","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=9418"},"modified":"2019-10-31T12:32:42","modified_gmt":"2019-10-31T12:32:42","slug":"innovator-visas-debunking-the-myth","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/innovator-visas-debunking-the-myth\/","title":{"rendered":"Innovator Visas \u2013 Debunking The Myth"},"content":{"rendered":"
\"Innovator
Innovator Visas \u2013 Debunking The Myth<\/figcaption><\/figure>\n

By Ina Iteva, solicitor at Gherson Solicitors<\/a><\/strong><\/p>\n

In a turbulent Brexit reality, immigration is a sizzling topic. The already mindboggling array of UK immigration rules, regulations and legislation continue to enjoy special attention from Parliament and to endure a succession of (some might say traumatic) changes to set the ground for the fabled new immigration system.<\/p>\n

In March 2019 we were introduced to the Innovator visa, a route into the UK market reserved for a very specific candidate – the somewhat experienced business person, who already has a great idea, some capital to cultivate it, and the enthusiasm to tackle the UK market.<\/p>\n

The Innovator category has not benefited from much positive publicity, which this author considers unjust. The route has been criticised for requiring Innovators to dedicate themselves to the business (as additional employment is not permitted), for limiting applicants with the introduction of mandatory business endorsement, and for offering fewer incentives to both applicants and endorsing bodies as a result. As a result there were only 2 successful applications in the category\u2019s first three months of existence. Bad press and Brexit-related investment sluggishness<\/a> must be behind this as we believe the category opens up ample opportunity for the Innovator\u2019s taking and this is why.<\/p>\n

The benefits of endorsement<\/h2>\n

This is not a new concept in the UK immigration system, previously used in the graduate entrepreneurial context. Simply put, a business idea must be given a stamp of pre-approval by a recognised organisation (in this case business accelerators, seed competitions and government agencies) before the individual behind the idea can apply for a visa as an Innovator. Endorsing bodies apply various criteria in determining the prospects of a business idea but the current list of approved endorsers offers wide sector coverage (including medical, engineering, fin-tech, social welfare, education, corporate innovation to cyber security, as well as those with no sector specific approach, and instead assess applications on a case-by-case basis) which is likely to suit most emerging business.<\/p>\n

The concept of endorsement comes into play to offer emerging businesses a helping hand in the face of a market-strong and savvy partner. Getting endorsed creates opportunities for increased financial security and access to sector-specific acumen, and strengthens individual standing before the visa and immigration authorities.<\/p>\n

General criteria<\/h2>\n

With the introduction of endorsement business experts, rather than the Home Office, will assess the potential of business ideas. This should provide the Innovator with further reassurance that their business has a bright future in the UK the same as skilled workers from overseas<\/a>.<\/p>\n

There is guidance for endorsers as to what they should be looking for:<\/p>\n