One of the questions that I keep getting from inquiries is “How do I come up with an Innovator Founder visa business idea?”Therefore, writing an article on this subject may be useful for many of you who are interested in this path.

Disclaimer: none of the content in this article, or website, constitute immigration advice in any shape or form. For professional immigration advice, please refer to a regulated immigration advisor or solicitor.

First and foremost, it is important to note that the current immigration rules on the Innovator Founder visa require the applicant to have come up with the business idea themselves. This is reflected in page 4 of the case worker guide for the Innovator Founder visa by the Home Office. 

Therefore, it is important to note neither I nor any other compliant individual and/or entity shall provide you with a business idea. Any party that does so will be violating the immigration rules. Thus, be wary of any person or company that offers a “business idea for sale”. 

However, if you do have a business idea, I am certainly able to help you with identifying the strengths and weaknesses of that idea. As the UK’s number one business consultant for corporate immigration, I possess the knowledge and experience that will enable me to swiftly identify the key flaws of your business proposal. 

In this article, I will provide brief guidance via several starting points that will help you come up with a business idea. Therefore, this is a short “manual” and “how to guide” for coming up with any (practical) business idea, irrespective of the objective. 

Start with a problem (statement)

The majority (not all) of successful business ideas are based on problem-solving. Some may not necessarily solve a problem but rather improve how a problem is solved. 

 Hence, your starting point can be the creation of a problem statement sheet. 

Get your pen and paper out (or open a Word document) and start brainstorming. Think of the following:

  • What is a problem that has bugged you? Or bugged someone/an industry that you know?
  • How can it be solved?

Research the market 

Once you have identified an (unsolved) problem, your next step is to engage in market research. In the case of an Innovator Founder visa business idea, this will be the UK market. 

This will most likely be a time-consuming process, and you must do it correctly. 

Your market research should ideally consist of both primary and secondary research. 

Check out this guide by Hubspot, which I have found to be very comprehensive for this part. 

Identify your strengths and weaknesses as an individual 

Once you have identified a problem, and the solution based on market research and validation, you should then analyse your individual skills profile.

Consider the following:

  • What are your core professional competencies? 
  • What are your skills gaps? This is in the context of the development of your business idea
  • Who else do you need to turn your idea into a business venture?

These 3 steps should help you get started on developing an Innovator Founder visa business idea 

Once you do develop your business idea, I would then advise you to obtain my feedback on your business idea. I will evaluate your Innovator Founder visa business idea within a reasonable timeframe and at a reasonable cost. 

Remember, business ideas require “business expertise”. Therefore, it is important to seek the right guidance (which is where I will be able to help).

Already have a business idea? Book an initial consultation with me for a thorough evaluation.

About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats. I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme. Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (replaced by the Innovator Founder Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.