Innovator Founder Visa rejection & how to avoid them: Lack of Investment Capital

Lack of Investment Capital

Even though the new visa has dropped the £50,000 capital requirement, don't be too quick to lower your financial expectations. The endorsing bodies and Home Office often hesitate to approve applications significantly below this threshold. The reason? They're looking for founders with enough capital and resources to truly succeed. When it comes to backing potential unicorns, having the financial muscle matters.

How to Fix it?

• Beef up your bank balance. Authorities will want to see your bank statements as proof of your financial readiness.
• Expecting outside investments? Have those contracts handy to demonstrate additional support.
• If you're securing loans, keep those agreements at the ready to showcase your complete financial strategy.
• Make sure the figures in your financial projection match up with the investment you're bringing to the table.
• If your initial funding doesn't meet the expected threshold, be ready to clearly outline your strategy for securing additional funds.

Feeling overwhelmed? Securing an Innovator Founder Visa is indeed a big deal and requires considerable preparation to showcase both your potential and your business idea in the best light. But don't worry, Salmo has your back. Our team of professionals and industry experts brings a wealth of experience in guiding high-potential entrepreneurs toward gaining their business endorsement and successfully obtaining their visas. We will be sure to provide you with insider tips you won't find anywhere else.