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To obtain UK Innovator Visa, an applicant needs to present an innovative business idea that plays an important role in visa application process. To get endorsed by the government approved endorsing bodies, the idea must meet all of the following criteria’s:
• Description of the business concept
• The problems that will be solved by the business
• The Revenue Model
• Market Analysis
• The Growth Strategy
• Why the idea is innovative?
• Competitor analysis
• Organizational structure
• The applicant background that shows that the person is well experiences and capable of setting up and managing the company
• Executive Summary
• Detailed description of a business idea
• The description of product or service
• Full market analysis, including market trends, customer needs and growth projections
• Detailed competitor analysis and USP
• Marketing Plan and Strategy
• The Organizational Structure: Management, Operations and Activities
• Financial planning and budget
• Risk management and financial risks
To validate the feasibility of the idea and innovativeness of the idea, the innovative business plan should show how the idea will be developed and exploited. Also, the plan should highlight the capability and experience of the team, how the costs will be financed and how the investors will be able to realize their profits.
To show the Viability of the idea, the business plan should contain the information about who will buy the products and why, information about the costs, detailed competition analysis and differentiation on the market, as well as information abut when will the business start to receive income and when will it break even.
To be scalable, the business idea should allow the company to expand the business without spending a lot of additional money. For example, franchising a business is a scalable business idea, as when you sell a franchise, the company does not have to pay all additional costs of the new business.
Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow. We are specialised in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration lawyers are regulated by OISC (Office of the Immigration Services Commissioner) and IMC (Investment Migration Council).
For further information or to discuss your circumstances in a private consultation with our immigration lawyers in London Office, please contact us at email@example.com or call +44 207 993 63 46.
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