SUCCESSFUL INNOVATORS IMMIGRATION SCHEME EXTENDED
(16 September 2002)

A successful pilot scheme which has brought more than 100 high-tech business top flyers to the UK is to be extended, the Home Office announced today. The Innovators Scheme is to be extended indefinitely after a two-year pilot in which 112 of the most talented people in the world have come to Britain to set up high tech businesses in areas such as e-commerce, electronic share dealing and music industry technology.

Home Office Minister, Beverley Hughes, said: "Under the Innovators Scheme we have been able to bring more than 100 of the world's cutting edge business people to the UK. These new high-tech businesses are helping to boost our economy. On the basis of those companies which have already completed their initial period, we can expect at least 200 jobs to be created by the Innovators currently setting up businesses across the UK. Following a successful two-year pilot we now intend to extend the scheme indefinitely.

"We are an open, trading nation and migrants contribute a great deal to our society and our economy. In a modern, global economy it is essential that we can attract the people and skills we need to create successful businesses and generate jobs and economic growth.

"The Government is putting in place an effective managed migration programme with a package of economic entry routes to allow more people to come and work here legally in ways which benefit our economy."

Under the Innovators Scheme, entrepreneurs with new and creative business ideas (particularly in science and technology) can enter the UK for an initial 18 months. The scheme is designed to attract and select entrepreneurs whose business proposals will provide the UK with exceptional economic benefits, but who may not qualify under any of the existing entry routes.

The Innovators Scheme is one of a range of measures being taken by the Government to promote managed economic migration. That work includes overhauling the work permit system, doubling the number of work permits issued, putting in place special schemes to bring in the highly skilled and looking at bringing in more short-term foreign workers.

ABOUT THE INNOVATORS SCHEME

The Innovators Scheme is designed to create an economic entry route for people whose business ideas will bring economic benefit to the UK but who would not qualify under existing schemes.

The Scheme has a rigorous selection process and people wanting to enter under The scheme have to provide a business plan along with other supporting material and demonstrate that their business will create up to two additional jobs in the UK. There is no requirement, however, for personal funds to be invested (as in the Investors Scheme) or for a minimum earning capacity (as with the Highly Skilled Migrant Programme). The Pliot scheme began on 4th September 2000. Out of 148 applicants, 123 have been granted visas under the Innovators scheme. Successful entrepreneurial applicants receive an 18-month visa which can be extended a further 48 months.

The Innovators route requires the applicant to start a business creating at least two full-time jobs within 12 months of establishment. The applicant must also maintain a 5% holding of the equity capital and must have funding for the first six months of trading. Applicants under the route must also be able to accommodate themselves and their dependants.

Further Information

Further information on the Highly Skilled Migrant Programme is at:
http://www.workpermits.gov.uk
http://www.fco.gov.uk/ukvisas
http://www.ind.homeoffice.gov.uk

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