UK Innovator Founder Visa 2024: Complete Guide for Entrepreneurs
The UK Innovator Founder visa (formerly Innovator visa) is designed for experienced entrepreneurs with innovative, viable, and scalable business ideas. Here's everything you need to know about qualifying, getting endorsed, and relocating to the UK.
Post-Brexit Opportunity
After Brexit, the UK is aggressively attracting global talent. The Innovator Founder visa offers a direct path to permanent residence (ILR) in just 3 years.
Explore Our Concierge SupportWhat is the Innovator Founder Visa?
The Innovator Founder visa is for entrepreneurs who want to establish or run an innovative business in the UK. Unlike the Start-up visa, this requires:
- Endorsement from an approved endorsing body
- £50,000 investment funds (can be from third parties)
- Innovative, viable, and scalable business idea
Initial Stay
3 years
Extension
3 more years
ILR Eligible
After 3 years
Eligibility Requirements
1. Endorsement from Approved Body
You must get endorsement from one of the UK government's approved endorsing bodies. They assess if your business is:
- Innovative: Genuine, original business plan not available in UK market
- Viable: Realistic plan based on available resources
- Scalable: Potential for job creation and growth
Approved Endorsing Bodies (Examples):
- • Innovator International
- • Tech Nation (for tech startups)
- • The Global Entrepreneurs Programme
- • Envestors Limited
- • UK Endorsing Services
Full list: gov.uk
2. Investment Funds (£50,000)
You must have access to at least £50,000 investment funds. These can come from:
- Your own money
- Third-party investors (VCs, angel investors)
- Combination of both
Important Notes on Funding:
- • Funds must be held in a regulated financial institution
- • Must be freely transferable to the UK
- • Cannot be borrowed (unless from endorsing body)
- • Must be available for business use
3. English Language Requirement
You must prove English proficiency at B2 level (CEFR) through:
- IELTS (minimum 5.5 in each component)
- Degree taught in English
- Nationality from English-speaking country
4. Maintenance Funds
You must have £1,270 in personal savings (held for 28 consecutive days) to support yourself.
Application Process
Develop Your Business Plan
Create a detailed business plan covering:
- • Market research and competitive analysis
- • Product/service innovation
- • Financial projections (3-5 years)
- • Job creation potential
- • Scalability strategy
Apply for Endorsement
Submit your business plan to an approved endorsing body. They will:
- • Review your business plan
- • Interview you (usually 30-60 min)
- • Assess innovation, viability, scalability
- • Issue endorsement letter (if approved)
Timeline: 4-8 weeks | Cost: £500-1,500 (varies by body)
Submit Visa Application
Apply online via UK Visas and Immigration (UKVI). Submit:
- • Endorsement letter
- • Proof of £50,000 investment funds
- • Proof of £1,270 maintenance funds
- • English language certificate
- • TB test results (if from listed country)
- • Passport and photos
Visa fee: £1,191 (3 years)
Biometrics Appointment
Book appointment at visa application center for fingerprints and photo.
Appointment scarcity: UK visa appointments can be booked 2-3 months in advance.
TravelReady monitors all UK visa centers 24/7 and alerts you when cancellations open.
Decision
Processing time: 3 weeks (standard) or 5 working days (priority service, +£500)
Costs Breakdown
| Item | Cost |
|---|---|
| Endorsement application fee | £500-1,500 |
| Visa application fee (3 years) | £1,191 |
| Immigration Health Surcharge (3 years) | £3,105 |
| English language test (IELTS) | £150-200 |
| TB test (if required) | £50-100 |
| Priority processing (optional) | £500 |
| Business plan consultant (optional) | £1,000-3,000 |
| Immigration lawyer (optional) | £3,000-8,000 |
| Total (DIY) | £4,996-6,096 |
| Total (with support) | £8,996-17,096 |
*Plus £50,000 investment funds for your business
Path to Permanent Residence (ILR)
The Innovator Founder visa offers a fast track to ILR in just 3 years if you meet certain criteria:
Common Rejection Reasons
Weak Business Plan
Lack of market research, unrealistic projections, or unclear innovation.
Insufficient Innovation
Business idea already widely available in UK market.
Poor Scalability
No clear path to growth or job creation.
Inadequate Funding Evidence
Cannot prove access to £50,000 investment funds.
Failed Endorsement Interview
Unable to articulate business plan or answer questions convincingly.
How TravelReady Helps
Business Plan Review
Institutional Expert System checks your plan for red flags
Document Validator
Ensure all requirements met
Appointment Alerts
5-second SMS when slots open
FAQ
Can I work for another company while on Innovator Founder visa?
No. You must work solely on your endorsed business.
Can I bring my family?
Yes. Spouse/partner and children under 18 can apply as dependents.
What if my business fails?
You can pivot to a new business idea with endorsing body approval, or switch to another visa category.
Do I need to live in the UK full-time?
For ILR, you cannot be outside UK for more than 180 days/year.
Conclusion
The UK Innovator Founder visa is one of the best entrepreneur visas globally, offering a fast track to permanent residence and access to Europe's second-largest economy. With proper preparation and a strong business plan, it's achievable for ambitious founders.
Ready to Apply for UK Innovator Founder Visa?
TravelReady helps founders prepare business plans, validate documents, and secure appointments faster.