The Tier 1 Entrepreneur Visa is the main legal door for entrepreneurs from around the world to start a business to the UK.
It aims to offer a red carpet for global entrepreneurs to build a business and spark innovation and growth in the British economy.
Although the scheme has seen a great take up, the UK home Office has recently started tightening the screws due to alleged abuses. This situation translated into an increase in applicant scrutiny leading to a refusal rate growing up to 50% – (Home Office, Immigration statistics quarterly release 2013).
In addition to a more stringent scrutiny, the Home Office requires from applicant to present a business plan as well as take a genuine entrepreneur test.
But how can an entrepreneur prove that his enterprise is genuine? How is the credibility of a business plan assessed? What are documents should be presented? In other words, what is a successful application according to the Home Office?
These are few of the questions we asked our immigration expert during our last webinar:
Collider, a London based startup accelerator, is looking to invest £150K into tech start-up teams building marketing or advertising technology. Applications to the program are open until November 10th online to anyone – Collider is part of UKTI’s endorsed bodies to grant a fast-tracked Entrepreneur visa to foreign applicants.
What is Collider?
The four months program offers 10 selected start-ups with £50k in cash for 11% equity in return, and charge £10k for the Collision phase programme – four months of brand interactions, intensive one-on-one coaching, workshops and support from the likes of Taylor Wessing and KPMG. Collider startups get face to face with leading global brands like Unilever, Diageo and the BBC.
After the four months Collider invest a further £100k cash for 11% equity in five of the ten start-ups, as decided by their investors immediately and paid into accounts within 24hrs. Collider charges £10k for a further 8 months’ support including monthly board meetings, fundraising work etc.
What is Collider looking for?
Collider is looking for teams of two people at least and willing to travel to London on a weekly basis. If you are applying from abroad, Migreat has officially partnered with Collider to provide support and assistance to its successful applicants to apply to UK’s Entrepreneur visa.
Find more information about who Collider is looking for on their website. Find out more if you are eligible to the UK Entrepreneur visa using Migreat visa tool.