A Quick Look at the UK Innovator Visa (effective till 12th April 2023)
The UK’s Innovator visa category is an immigration route aimed at experienced entrepreneurs. While many of its criteria are similar to the UK Startup visa, this route is designed specifically for those entrepreneurs who have a relevant job or business experience, either have a new innovation or want to relocate/scale-up their existing operation to the UK.
Like the Startup visa, the Innovator route depends on a solid business plan that illustrates innovation, viability, and scalability. 
However, there is a higher emphasis on the experience and leadership of the Innovator applicant. As the name suggests, endorsers for this route are keen on entrepreneurs and ideas that innovate industries, disrupt markets, and ultimately change how things are done.
 

Understanding Innovator Endorsement
If you are looking to launch and operate an innovative business in the UK on an Innovator visa, it must be something different from what’s already on the market. Innovators aren’t copycats or lean efficiency strategists - they are trendsetters and disruptors that find opportunities where nobody else can.
Innovators have to be ahead of the times, but not so far ahead that people can’t appreciate their vision. 
This is important, as your business or business idea must be endorsed by an endorsing body. The endorsing body is simply an already established company or institution that has been previously vetted and approved for endorsement by the UK Home Office.
You can review a list of the approved Innovator endorsing bodies here, but we highly recommend talking to a visa specialist before attempting to contact them directly. First impressions are everything, and there’s no reason yours can’t be a great one!
 

Financial Requirements
All applicants will need to meet the other eligibility requirements as well, the most important of which might be the £50,000 of investment funding needed to qualify. There are exceptions to this rule for those previously endorsed, but all new businesses will need to provide evidence of this funding.
You’ll also need to keep at least £1,270 in your bank account for at least 28 consecutive days before applying to receive, extend, or switch to an Innovator visa.
This money cannot come from your investment funding, which is intended solely for the business. The source of this money should be evidenced, as any funds earned while residing in the UK illegally are not eligible.
If more than one applicant is being endorsed under the same business, each applicant will need to provide evidence of £50,000 in investment funds and the maintenance amount of £1,270. In other words, two partners going in together would need £100,000 in total investment funding.
 

Language Requirements
All applicants must be competent in English to at least CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening, and speaking). While the United Kingdom has a robust international history, English is absolutely the language of the land and will be necessary to work, travel, and navigate the complex bureaucracy.
 

Benefits of the Innovator Visa
We mentioned earlier that there exist certain similarities between the Startup and Innovator visa routes. The most appealing benefit that comes from an Innovator visa, however, is often its straight path towards permanent residency.
Persons holding an Innovator visa are eligible to apply for ILR (indefinite leave to remain) after three years (subject to meeting the specific requirements of ILR). Those holding a Start-up visa, by comparison, are eligible to transfer to an Innovator visa after two years.
As illustrated by the above, Innovators are both highly-regarded and highly desirable. This can easily translate into networking opportunities of enormous potential, given the influence endorsing bodies possess within their industries. There is a certain distinction between being introduced as an experienced Innovator, as opposed to a promising start-up.
Start-ups tend to be risky ventures, but those being launched and operated by more experienced entrepreneurs generally have a greater chance of reaching their goals. When those experienced professionals focus their energies on innovation, investors and owners alike can make return percentages in the thousands.
 

Conclusion
In closing, we hope to have clearly explained what the Innovator visa is, who it is for, and its basic eligibility requirements. We realize this route is not for everyone, and while it is a competitive visa, it is ultimately a matter of providing the proper evidence of eligibility and clearly presenting the business idea’s innovations that determine an applicant’s success.