Richard, Karen and James hosted a comprehensive webinar about the Innovator Founder Visa route. As one of only three private sector endorsing bodies approved since April 2023, they shared valuable insights with prospective applicants.

Success Rates and Processing Times

The overall endorsement rate is 28%, but this figure is misleading. Richard explained that 72% of applicants don't meet basic criteria, often viewing this as a general migration route rather than a business-focused program. Of those endorsed, 94% subsequently receive visa approval from the Home Office. Processing currently takes an average of 37 days for acceptances and 31 days for refusals.

Three Core Assessment Criteria

Innovation requires a clear, compelling, unique proposition that's sufficiently different and not easily replicable. The innovation must be core to business success and primarily developed within the applicant's business.

Viability demands credible evidence of UK market demand, realistic financial projections, and sufficient funding. Crucially, there's no fixed £50,000 requirement - applicants need whatever their business plan demonstrates is necessary.

Scalability focuses on structured growth plans that create jobs (typically 5+ people) or significant income (£500,000+). This route isn't designed for single-person lifestyle businesses.

Key Questions Addressed

Participants raised concerns about shareholding requirements, with Richard emphasizing that holding less than 25% raises questions about genuine founder status. Multiple questions about the £50,000 funding myth were clarified - this applied to the old visa route and is no longer relevant.

Technical development using external coders is permitted provided applicants contribute meaningful specifications and intellectual property. Businesses don't need immediate revenue generation but must show realistic progression toward profitability and settlement targets.

Support and Next Steps

Innovator International offers extensive free resources, including application packs and the new Innovator Pulse website. They provide free second assessments if initial applications are refused and warned about fraudulent organizations claiming false partnerships. Monthly webinars continue, with the next session on October 1st focusing on developing tech propositions.