Envestors Endorsing Process: How to obtain Innovator Founder Visa Endorsement Letter

The Innovator Founder Visa is your 3-year ticket to launching an innovative business in the UK. Just a heads up, you'll need to snag an endorsement from an official endorsing body before you can apply on the Home Office website. Lucky for you, we're pros at securing endorsement letters from Envestors, one of the three endorsing bodies.

Endorsing Process at Envestors

The endorsement process at Envestors generally involve two stages:

• Registration Stage
• Business Plan Stage

Registration Phase

Starting off on the right foot is key, and the first phase with Envestors is your chance to do just that. They kick things off with an online assessment that's all about getting to the heart of what your business is about. Ace this part, and you'll move on to the nitty-gritty Business Plan Stage. 

Be prepared to answer the following questions about your business:

• Explain what problem your business is solving
• Explain how your business offers something unique to the UK
• What skills and experience do you have that will help run this business?
• Resume
• What traction have you achieved so far?
• What is the growth strategy for the business and what jobs do you anticipate you will create within the first 3-years?
• What makes your business scalable?
• What is the estimated budget to launch this business in the UK?
• What capital/funding do you have available within the first 12-months?
  

You will also be asked to upload the following documents:

• Resume
• Pitch Deck

We think you should check out this blog: Top Tips for getting endorsement from Envestors: Registration Phase, for expert tips on how to nail this stage, including the format of your pitch deck!

Once you've hit submit on the online registration form, you'll be directed to the payment portal to cover the consideration fee of £1000 + VAT. Remember, this non-refundable fee is part of the process and goes directly to Envestors, regardless of the outcome. So, it's all about giving it your best shot from the get-go.

Once your form is in, expect to hear back from Envestors within 2-4 weeks. Keep an eye on that inbox!

Business Plan Stage

If you've made it to this point, well done! This means Envestors sees potential in your idea aligning with visa requirements and now needs more info to ensure they're backing the right person and concept.

Expect to tackle a few key tasks next:

• An online interview
• The KYC (Know Your Customer) process
• Crafting your digital business plan
• Uploading any supporting documents

Online Interview

Gear up for a one-on-one chat with your assigned Envestors account manager. It's a great chance to connect personally and show off your vision. Impress them by professionally presenting your pitch deck and confidently answering their questions.

Completing KYC process

Envestors partners with a third-party for KYC to ensure your credibility. You'll need to submit:

• Copy of passport
• CV/Resume
• Copies of degrees/certificates
• 2 reference letters from previous employers/University
• Links or copies of documents showing awards, achievements, and

business ventures

• Proof of address

Digital Business Plan

You'll dive into crafting a detailed business plan on the Envestors platform, covering six key areas:

• Company Overview: Share the basics and who's steering the ship.
• Financials: Lay out your financial forecasts.
• Capital Requirement: Explain where your funding's coming from.
• Disclosures: From employment details to legalities and intellectual property.
• Business Proposal: Describe your market and any progress you've made.
• Business Criteria: Show how your idea is innovative, scalable, and viable.

Uploading any supporting documents

Finally, upload all supporting documents that showcase your potential and why you're the right person to make your business a success. This includes, but isn't limited to:

• Degree certificates
• Bank statements
• Awards
• Relevant achievements
• Additional certificates
• Patent registration plans

Given that the decision hinges solely on the information you submit, it's crucial to put your best foot forward. For guidance on acing this stage, check out our blog post: "Top Tips for Securing an Endorsement from Envestors: Business Plan Phase."

After you've sent off your business plan, hang tight for at most 4 weeks while Envestors mulls things over. Don't be surprised if they pop back asking for a tweak or two. When they've made up their minds, you'll get a decision and a handy scorecard that breaks down their thought process and points out where you could polish things up a bit.

Salmo Support: Book a session with us now!

Wrapping it up, navigating the Innovator Visa pathway can feel like trekking through uncharted territory, given the scarcity of clear guidelines out there. But fear not, because that's exactly where Salmo steps in! Our tailored endorsing services are designed to guide you through this complex process, significantly boosting your chances of securing that all-important endorsement letter.