Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
Tag Archives: Innovator Founder Visa
Should Funding be Incorporated in the UK’s Innovator Founder Visa Policy?
External funding can be a useful factor to determine a founder’s suitability under the UK Innovator Founder Visa. Many start-up visa schemes around the world, such as Canada, implement funding as a defining factor for applicants. In this article, I will look into the values that such as an approach may offer as well as some of the drawbacks. The “Innovation” requirements & its flaws The current Innovator Founder Visa is primarily based on applicants having concepts and/or businesses that are: On the surface, these factors are logical. However, in practice, the innovation requirement presents certain challenges. The UK Government’s guidance for Endorsing Bodies interprets innovation on the following basis: Below is the precise wording of the guidance for Endorsing Bodies by the UK Government. However, the issue that arises out of this interpretation primarily relates to “replicability”. Unless a concept is protected by intellectual property (IP) measures such as patents, most, if not all, ideas can be copied. Therefore, there are two ways forward to determine innovation and the viability of a founder and their concept, and these are: Expanding the definition of “innovation” I have recently created a video on how the Netherlands has a more suitable interpretation of innovation compared to the UK. The Dutch Government defines innovation per below: There are several aspects which make the Netherlands’ definition of innovation valuable, and some of them are: -Taking social enterprise into account-Consideration of organizational and process approach Funding as a suitability factor? Incorporating external funding as a measure of startup viability in startup visa programs makes sense because it signals the following key indicators of a startup’s potential and legitimacy. Proof of Market Validation Ability to Attract Resources Job Creation Potential Commitment and Long-Term Planning Attraction of Strategic Partnerships Risk Mitigation for the Host Country Global Competitiveness Support for Economic Development Goals Nevertheless, implementing funding as a requirement, rather than a complimentary factor has its own drawbacks. This is primarily due to the fact that it is often difficult for founders to raise funding at the idea stage. Moreover, many concepts require the founder and operations to be based in the UK, in order to gain the minimal viability to qualify for funding from an investment perspective. Way forward With the current Innovator Founder Visa being launched less than two years ago, time is a key factor to evaluate its efficacy. Nevertheless, the current visa regime has flaws, particularly in relation to interpreting innovation. Ideally, a points-based system, where funding is an optional factor to score additional points would prove to be a more sustainable model. Entrepreneurship and start-ups are defined by the core factor of “unpredictability”, and therefore flexibility is essential. 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 under the endorsement of Newcastle University. 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.
UK Innovator Founder Visa Guidance
The Innovator Founder Visa UK program is a significant opportunity for international entrepreneurs seeking to start or scale a business in the United Kingdom. Designed to attract highly skilled innovators, this visa replaces the earlier Innovator Visa and Start-Up Visa. In this guide, I’ll provide guidance regarding the essentials of the Innovator Founder Visa UK, including eligibility criteria, benefits, and application steps. None of the content in this article constitutes immigration advice in any shape or form and serves as general information What is the UK Innovator Founder Visa? The Innovator Founder Visa is tailored for entrepreneurs with innovative, viable, and scalable business ideas. Unlike the predecessor program, it does not require applicants to have a minimum investment amount, provided their business concept meets the program’s criteria. This change has made the visa more accessible to a wider range of entrepreneurs with fresh ideas and limited capital. Key Benefits of the Innovator Founder Visa Eligibility Criteria for the Innovator Founder Visa UK To qualify for the visa, you must meet the following requirements: 1. Innovative Business Idea 2. Endorsement 3. Proficiency in English 4. Financial Maintenance Application Process for the UK Innovator Founder Visa Step 1: Develop Your Business Plan Craft a comprehensive business plan that demonstrates how your idea is innovative, viable, and scalable. Highlight market research, financial projections, and the problem your business solves. If you require help with your business, see this page for the range of assistance that I provide. Step 2: Secure Endorsement Contact an endorsing body to review your business plan. If approved, they will provide an endorsement letter required for your visa application. Step 3: Prepare Your Application Gather necessary documents, including: Step 4: Submit the Application Apply online through the UK government’s visa portal. The processing time typically ranges from 3 to 8 weeks. Step 5: Move to the UK Once approved, you can relocate to the UK and begin working on your business. Challenges and Tips for Success Tip: Seek Expert Advice Navigating the Innovator Founder Visa process can be complex. Engaging a business consultant or immigration specialist can significantly increase your chances of success. Frequently Asked Questions 1. Can I extend my Innovator Founder Visa?Yes, the visa can be extended for additional three-year periods, provided you continue to meet the criteria. 2. Is this visa suitable for startups?Absolutely. The visa is ideal for startups and early-stage businesses with high growth potential. 3. Can I switch to this visa from within the UK?Yes, switching is possible if you are already on a qualifying visa. Conclusion The Innovator Founder Visa UK is a golden opportunity for global entrepreneurs looking to establish innovative businesses in the United Kingdom. With its focus on innovation and flexibility, it opens doors to a thriving startup ecosystem and long-term residency. Whether you’re a seasoned entrepreneur or a visionary with a groundbreaking idea, this visa can be your gateway to success in the UK. If you’re considering applying, start by refining your business idea and reaching out to endorsing bodies for support. With the right approach, the UK could be the perfect destination to turn your entrepreneurial dreams into reality. Need Help? I offer a range of business consultancy and assistance services to international entrepreneurs. Additionally I can refer you to a regulated immigration advisor for your immigration queries. 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. 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.
Patents: 4 Basic Facts
Patents are complex, and obtaining them is only part of the hurdle. As a business consultant working with innovative founders, I get a lot of questions about patents. While I am not a patent attorney, I will share 4 basic facts about patents that will give you an idea about protecting your intellectual property through this route. Obtaining patents is certainly a complex path. You must consult a patent attorney if you wish to do so. However, to get started, I will share 4 basic facts about patents that will give you an idea of what to expect. 1. Patents are expensive First of all, patents cost a lot. As an example, let’s look at the UK: Summary of Costs As you notice, the key costs are associated with patent attornies, which you must consult if you decide to file and register a patent. For more information on UK patent costs, check here. 2. Patents take time It takes time to register a patent. On average, you are looking at 1 to 2 years (although this may vary). However, the key principle is that, unlike trade marks, patents are more complex and time-consuming. 3. They are jurisdictional Similar to trade marks, patents usually cover a certain jurisdiction, for instance, the UK. If you wish to obtain multi-jurisdictional protection, there are higher fees. 4. Obtaining a patent is not the end Lastly, it should be noted that obtaining a patent is not the end of the line. Your competitors, often firms with more resources, will most likely seek to find a way around your patent or worse, get into a legal patent battle with you. And what must be noted is that these legal battles will cost you, a lot. If you are seeking to register a patent, it is important to consult a patent attorney. Working with me as your business consultant includes introducing you to one to ensure you obtain solid advice before making any decisions and investing your resources. 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. Now I help aspiring business owners and job seekers fulfil their potential.
Innovator Founder Visa Changing?
Many wonder whether the current Innovator Founder Visa policy will change under the new Labour government in the UK. This is a question that only time will answer. However, I will outline some areas where change ought to be made. These proposed changes will ensure that the Innovator Founder Visa policy is robust and creates an attractive entrepreneurial ecosystem for international entrepreneurs. None of the content in this article, website, or my services constitute immigration advice or services. This content is presented as general information and on the basis of personal opinion. For immigration assistance, please refer to a regulated solicitor or immigration advisor. Before I highlight the potential areas of change to the Innovator Founder Visa regime, let me briefly describe this visa. I previously wrote an article and made a video on the flaws of the Innovator Founder visa policy, which you can read here. What is the Innovator Founder Visa? The Innovator Founder Visa is an immigration pathway designed for international entrepreneurs who may wish to set up an innovative business in the UK. Please refer to the UK Government website for full information about this visa. How should the Innovator Founder Visa policy change? There are several areas in which the Innovator Founder policy ought to change. An overview of the changes that I deem to be beneficial are: Let’s look at each one in more detail: Innovation One of the common issues I have observed since the launch of this visa is the innovation requirement and its interpretation. The “issue” with this requirement is that no specific factor determines innovation. For instance, patentability / Intellectual Property (IP), and no trade marks do not fall under this category. However, the problem with setting this as an absolute requirement is that many businesses, despite being innovative, cannot obtain patents. Thus, this would exclude a considerable number of founders and their businesses. Although this is a common problem, there is no clear fix either. Currently, determining innovation is subjective and up to each Endorsing Body to determine. Visa Fees This is sadly a problem that many founders are unhappy about. There are several costs associated with this visa, which are: With the first cost, the Endorsing Bodies have to charge applicants as this fee enables them to sustain their operations. However, the visa processing fee, payable to the UK government can be lowered. This is especially true when looking at other countries such as the Netherlands, where a similar visa costs around €380, in contrast to £1,191 for this visa. However, it is important to state that the Dutch self-employment visa only lasts for one year and has to be renewed. Nevertheless, given the lower number of applicants for the Innovator Founder Visa, in contrast to other visa routes such as the Skilled Worker pathway, it is sensible to consider lowering this fee. The Endorsing Bodies Firstly, allow me to clarify that this is not to criticise the current Endorsing Bodies. However, I believe that a higher number of Endorsing Bodies means more options for founders and additional sector-specific expertise. However, a potential issue that may arise from increasing the number of Endorsing Bodies is a potential conflict of interest between them. But looking at other countries such as Canada, we notice that applicants have more choices when it comes to third-party approval. With Canada in particular, founders have the option to either raise investment from VCs, or angel investors or enrol in incubation programs (but they do come with a cost). These are some of the areas in which the Innovator Founder visa policy may be reviewed and potentially changed. I have made a video on this topic as well, which you can view below: If you require business assistance as an international founder, have a look at my services designed for founders wishing to set up a business in the UK here. 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.
Innovator Founder Visa: Pros & Cons
None of the content in this article, website, or my services constitute immigration advice or services. This content is presented as general information and on the basis of personal opinion. For immigration assistance, please refer to a regulated solicitor or immigration advisor. The UK’s Innovator Founder visa was launched in 2023 as a pathway for foreign entrepreneurs to set up businesses in the UK. The visa and its requirements have substantially changed from its predecessor, the Innovator visa and the Tier 1 Entrepreneur scheme If you are considering the UK’s Innovator Founder visa, then it is sensible to make a full evaluation. As a former migrant entrepreneur and business consultant working with people navigating the business immigration journey, I will seek to highlight the pros and cons of this visa. Innovator Founder Visa Pros Suitable for scalable businesses The Innovator Founder visa requirements emphasize scalability. As such, if your business is scalable, or is already at traction stage, then this visa may be suitable. Pathway to permanent residence & UK citizenship This visa offers two pathways for settlement (permanent residence) in the UK: three years or five years. In comparison to other countries such as the UAE, this may be a desirable aspect for some. The UK’s global position The UK is among the easiest countries in the world to start a business in. Although due to recent legislation by the Companies House, there are now additional requirements and compliance protocols for setting up a company in the UK. The multicultural landscape of the UK, as well as English being the spoken language may be an advantage to some international entrepreneurs. Secondary employment The current Innovator Founder visa permits paid employment alongside the applicant’s business. This may be a beneficial option for some international founders. Innovator Founder Visa Cons Strict business & endorsement requirements The selection process for the Innovator Founder visa which is through an endorsement from one of the four designated Endorsing Bodies is strict. There are several requirements that your business must meet, as well as the founder/founding team meeting a certain skills level. Less Endorsing Bodies There are now only 4 endorsing bodies in contrast to 65 under the previous Innovator visa pathway. This leaves applicants with less choice and a lower margin of error. Personally, I support the view that a larger selection of Endorsing Bodies will facilitate additional sector-specific expertise. May be expensive for some There are several costs involved, and these exclude any additional help from third parties such as a business consultant (me) or an immigration advisor/solicitor. Minimum budget required: ÂŁ5000 to ÂŁ10,000 (this does not include the funds for your business). The initial costs are: Endorsement: ÂŁ1200 Visa Application Fee: ÂŁ1,191 (outside the UK) or ÂŁ1486 (inside the UK) NHS Health Surcharge: ÂŁÂŁ1,035 per year To help my clients/ Innovator Founder visa applicants, I offer an idea assessment service. This will involve assessing your idea and the provision of expert feedback to reduce the chances of your endorsement being rejected. Economic uncertainty Global events such as the 2008 Financial Crisis, Brexit and COVID-19 have left a painful mark on the UK’s economy. This is evident in several contexts such as the Cost-of-Living Crisis. Additionally, with the 2025 General Election coming up, it is reasonable to expect dramatic policy shifts, indicating economic uncertainty. These are some of the pros and cons of the Innovator Founder visa. Need help with the Innovator Founder visa endorsement? Check out my services, designed specifically for founders like you. 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. Disclaimer: none of the content in this article or my services constitutes immigration advice or services.
Innovator Founder Visa Rejection | 4 reasons
None of the content in this article, website, or my services constitute immigration advice or services. This content is presented as general information and on the basis of personal opinion. For immigration assistance, please refer to a regulated solicitor or immigration advisor. The risk of an Innovator Founder visa rejection is on the rise. This is not a surprise as the new visa, in contrast to the former Innovator visa, now permits applicants to engage in paid employment. As such, this has led to increased interest and demand for the Innovator Founder visa. In addition to increased demand, the current Innovator Founder visa can only be endorsed by 4 Endorsing Bodies, a far smaller number than the previous visa. As a business consultant working with international entrepreneurs, I have come across Innovator Founder visa rejection cases that relate to the endorsement stage. Moreover, I have also actively monitored the Innovator Founder visa’s rejections. These are 3 common reasons why your Innovator Founder visa endorsement application may be rejected. 1. Your idea is not innovative As you may be aware, there are 3 key factors that Endorsing Bodies assess when considering endorsement applications, which are: Let’s talk about the innovation aspect first. Technically speaking, your idea/business should: 2. Your business is not viable Notice that I did not use the word “idea” in the heading above? The “viability” aspect refers to “you”, the founder/founding team. The core requirement is whether you have the skills and competencies to start and scale the business or not. Thus, factors such as your professional experience or qualifications will be relevant. 3. Your idea is not scalable Put simply: what is the vision for your business? How far will it go? How much money will it make? You may have a unique concept and have the personal skills to launch the business, but how big will the business get? If your business cannot scale nationally or internationally, it may be one of the reasons for a rejection of your Innovator Founder visa endorsement. 4. You bought a bad Innovator Founder visa business plan I write business plans for my clients (up to a limit, as they take a lot of time and I write each plan myself). Therefore, I am aware that many founders will seek the help of external parties for their business plan. Sadly, the market is now full of business plan writers who simply either use ChatGPT, or hire people with no experience in business to write a low-quality plan. This is why I have introduced a service to coach and mentor founder to writer their own business plan. I understand that for some, it may be necessary to have somebody else communicate their business. However, writing your own business plan will give you more confidence in presenting it, and it will also improve several skills such as writing and design. And do not worry, I will help you with ALL of that. These are some common reasons behind an Innovator Founder Visa rejection at the endorsement stage. Remember, do not trust every company or person to be in charge of your business ideas and endorsement application, unless you can verify their credentials. Even then, you should make sure that you are aware of every aspect and stage of the business plan whilst it is written. Need help with the Innovator Founder visa endorsement? Check out my services, designed specifically for founders like you. 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.
Advisory Programs now LIVE
In today’s dynamic business landscape, personalized guidance and support are invaluable assets on the path to success. Recognizing the diverse needs of individuals and enterprises, my tailored advisory programs are designed to empower migrants, founders, and enterprise alike. Let’s delve into how these programs can unlock potential, foster growth, and drive innovation. Empowering Founders Entrepreneurship is a journey fraught with challenges and opportunities. The programs equip founders with the tools and insights they need. Whether to navigate the complexities of employment or scaling a venture. From refining business models to accessing funding and market expansion strategies, I work hand-in-hand with founders to turn visions into reality. With personalised mentorship and actionable guidance, I empower founders to build resilient and impactful businesses. Empowering Migrants For migrants navigating new territories, my advisory programs offer a roadmap to prosperity. From navigating cultural nuances to accessing opportunities, I provide personalised strategies and mentorship to facilitate integration and success. By harnessing individual strengths and aspirations, I help migrants to thrive in their new environments and contribute meaningfully to society. Empowering Enterprise Innovation lies at the heart of every successful enterprise. The advisory programs offer tailored solutions to drive innovation, growth, and competitive advantage. Whether it’s optimizing operations, exploring new markets, or fostering a culture of innovation, I partner with enterprises to unlock their full potential. Through strategic guidance and implementation support, I enable enterprises to stay ahead of the curve and seize opportunities in an ever-evolving marketplace. At the core of my advisory programs lies a commitment to empowerment, growth, and impact. By tailoring my approach to the unique needs of migrants, founders, and enterprise, I unlock new possibilities and drive sustainable success. Join me on this transformative journey and unlock your full potential today! 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 (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (which was replaced by the Innovator 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 entrepreneurs start their businesses.
Don’t make this mistake with Business and Startup Visas
Business and startup visas and international entrepreneurs are what and who I deal with on a daily basis. As someone who has embarked on the path of business visas as a foreign entrepreneur, I have learned a few lessons. 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. If you are an international entrepreneur considering applying for a business or startup visa, there are quite a few things to consider. This may be one of the biggest challenges with foreign entrepreneurs. Starting a business is always hard work; add it to navigating immigration rules and you are bound to get things wrong. As such, in this article, I seek to prevent foreign entrepreneurs from making ONE fatal mistake, and that is underestimating the requirements of business and startup visas. Business & Startup visas may come with ongoing requirements Remember that under many visa paths such as the UK’s Innovator Founder Visa, there are ongoing milestones that founders must meet. In other words, getting a business or startup visa is just the beginning. Where do founders get it wrong? With the above in mind, founders usually underestimate startup and business visa requirements by either: These two mistakes can end up costing you money, time, energy and your health. It is vital that founders who consider startup and business visas are aware of this reality. Startup and business visas are not the means to obtain long-term residency/citizenship. It may be in certain countries, but it certainly is not the case with the UK’s Innovator Founder Visa. Remember to assess everything from a “business” perspective, rather than a “residency/immigration” one. What if residency is your goal? Entrepreneurship is not everyone’s forté, and I am not judging you for that. Perhaps you do wish to invest in commercial projects whilst obtaining an additional residency or citizenship. In these cases, it is better to consider residency or citizenship by investment programs offered by several countries across the world. Do not pursue a business or startup visa if your main priority is residency. Running a business has many uncertainties, and it should always be done for the purpose of generating profit unless we are speaking of non-profits. Any other goal is foundationally wrong for doing so. 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.
What moving abroad alone as a 17-year-old immigrant taught me
I will always consider myself an “immigrant”, partly because I refuse any negative connotation in relation to this term; I was born and raised in Iran. At the age of 17, I packed my entire life and got on a plane to the UK in pursuit of further education, all alone. Well, every story starts somewhere, and my immigration story began shortly after I finished High School in Iran. Initially, I moved to Manchester on a student visa to attend college/pre-university preparation. My educational journey came to an end when I was 22 and obtained my master’s degree in law from Newcastle University. Shortly after, I developed a business idea based on my experience with renting accommodation as an international student, which later became StudyFlats. This idea was supported by Newcastle University and got me a 1-year visa as a graduate international entrepreneur. Subsequently, I obtained a three-year visa (which led to my settlement after it ended). During this period, I scaled StudyFlats to over 30 UK cities, hired a team of four and managed a global client base across property sites around the UK. Going through the business immigration journey was one of the most difficult journeys that I could embark on. It profoundly changed my worldview, self-perspective and professional skill set. There are some big lessons that I learnt along the way. My hope is for these to resonate with others experiencing the same hardships or learning curve, and to raise awareness of the immigration narrative from an entrepreneurial and personal perspective. You are at a disadvantage, in many things… Yes, this is a fact, nor is this some “woke/snowflake” rant. Racism, discrimination and prejudice exist in the UK. They can be witnessed within many fabrics of the society, such as: -Housing -Employment -Healthcare -Media Of course, each person’s experience is unique. One individual may only encounter discrimination and racism in one area but not necessarily in another. The argument is that discrimination exists and it can become a professional and personal barrier. Personally, I may have been lucky or privileged to not experience many of these. However, the journey of being an immigrant certainly taught me about what discrimination looks like. You think more about the world One side effect of a multinational and global personal perspective is that it forces you to think more. You compare different nations and question how and why they come to differ. This will lead to even more questions. How did they come to differ? What differentiates the two societies and the way they are administered? These are examples of questions that you may have, and it’s a good thing. These questions, and comparative outlook, will contribute to your growth and level of knowledge. The question of “identity” This is perhaps one of the most challenging aspects of being an immigrant, or you could also say a “global citizen”. Once you spend long enough in another country/ your new “home”, you will undergo a series of changes. After a while, it just seems like you don’t fully belong anywhere. Your identity is now a reflection of different, and sometimes contrasting, viewpoints. Whilst inconvenient, such experiences will either make or break you. These are some of the things that I learnt as an immigrant who moved to the UK alone at the age of 17…Now I help other aspiring global citizens start their businesses abroad. 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 which I scaled to over 30 UK cities. I currently help other entrepreneurs and businesses of all size across several domains. For my credentials, please see here.
What you should NOT do when writing an Innovator Founder visa business plan
None of the content in this article, website, or my services constitute immigration advice or services. This content is presented as general information and on the basis of personal opinion. For immigration assistance, please refer to a regulated solicitor or immigration advisor. Writing an Innovator Founder visa business plan can be challenging. That’s one of the reasons why many international founders opt to work with me on their Innovator Founder visa business plan. If you plan to apply for the Innovator Founder visa, you must prepare a business plan. I have previously written an article about how to create an Innovator Founder visa business plan. In this article, I want to share some tips on writing an Innovator Founder visa business plan. Specifically, I will be highlighting things that you should NOT do when you are planning your venture. Remember: the perfect business plan does not boil down to being well-written or well-designed (although these are also essential). Writing the ideal Innovator Founder visa business plan requires a well-thought, viable and clear business proposition. These tips will help you in formulating both your business plan, as well as some of the fundamental aspects of your business planning. Overpromise This is one of the biggest mistakes made by founders. Sadly, international entrepreneurs are not exempt either. And it’s easy to understand why: you want to present the “ideal” image for your concept, whether it’s to the Innovator Founder Endorsing Bodies, the Home Office or even investors. However, this is a dangerous mistake, especially if you are held accountable for making progress against your initial Innovator Founder visa business plan. Underestimate your competition & market dynamics In line with the last point, some founders also underestimate their market and competition. This may be done either intentionally, to present an inaccurate/idealistic image of the market, or unintentionally as a result of personal neglect. Overestimate your offer This is an advice that you may not get from many consultants. Remember: simplicity is key. Keep everything as simple and straightforward as possible. Don’t write pages and pages about why your product is ideal and what it does. Instead, dedicate your content to presenting evidence of your venture and the market’s viability. Neglect the financials Cash flow and financial management are integral to every business. You must plan for and state all instances of incoming and outgoing cash flow. Have a plan B for every scenario and determine the financial implications of all scenarios. Need help with writing your Innovator Founder visa business plan? Read about my full services here to find out more. 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.