Innovation & Enterprise


Innovator visa (new business) scheme: terms and conditions

Terms and conditions

  1. For the Innovator Visa (New Business) endorsement, you can apply at any time (there are no fixed deadlines). However, as the Innovator Visa category is for people who have business experience and are seeking to establish a business in the UK, your submission must reflect this.
  2. If your Innovator Visa Endorsement application is approved by the University, you will be issued with an endorsement letter from the University. You will need this endorsement to make a visa application with the Home Office.
  3. You should seek advice on completing your visa application (email visaadvice@ucl.ac.uk to book an appointment).
  4. The University does not charge for the Innovator Visa endorsement. However, you are responsible for meeting the costs of your visa application, which are paid directly to the Home Office.
  5. You will be required to participate in regular mentoring and progress meetings at the discretion of the University as specified in Appendix 1.
  6. You will be required to be based at the Hatchery and sign a copy of the Hatchery agreement.
  7. The University’s allocation of endorsements will be issued to applicants who meet the critical criteria; an innovative, viable and scalable business idea, and the ability and maturity to set up and run the new business.
  8. The University’s decision on your application is final.
  9. UCL will act as your endorsing body for the duration of your visa. You must adhere to all reasonable requests made by the University in relation to your visa and your business plan.
  10. You must provide the University with a copy of your visa and passport as soon as you receive your visa, which will be held on file. If you visa is refused, you must provide us with a copy of the refusal letter.
  11. While on the Innovator Visa Scheme, the University is obliged to maintain contact with you. You must maintain contact with the University and respond within required timeframes.
  12. If the University is unable to maintain contact with you, we are required to inform the Home Office and withdraw the endorsement of your visa.
  13. You must keep the University informed of any changes in your contact details.
  14. You must inform the University if you permanently leave the UK. The University will report this to the Home Office.
  15. You must inform the University if you are granted any other type of visa. If your Innovator Visa is no longer required, it will be cancelled.
  16. At the end of your Innovator Visa, you must make arrangements to apply for a new visa (under an eligible category) or leave the UK before your visa expires.
  17. These terms and conditions are subject to change without notice or consultation with the participants.

Appendix 1

Please read carefully. When endorsed, you will be required and expected to abide by the following obligations. Failure to do so can result in the University informing the Home Office and terminating the endorsement of your visa.

You must:

  • register your business with Companies House.
  • open a business bank account.
  • be living in London.
  • ensure that all business transactions are made through the business bank account.
  • make at least one business transaction in year one via the business bank account.
  • work entirely on developing your business venture and must not take on other employment outside of your business. 
  • arrange and attend regular quarterly meetings with your assigned Entrepreneurship Advisor (EA). 
  • complete any tasks which are set by your EA to further develop your business.
  • provide progress update reports every three-months and/or upon request.
  • maintain contact with the University and ensure all correspondence are responded to in a timely manner.
  • submit a formal Business Progress Report after 6, 12 and 24 months, and present to a panel if asked to do so.
  • be in attendance at UCL BaseKX for a minimum number of days per week agreed with your EA.
  • attend peer to peer support sessions. The dates of these sessions will be provided once you are granted a visa.
  • attend any events, talks, activities, or workshops requested of you by the University.
  • be considerate and respectful of your fellow Hatchery Businesses, visitors to Base KX and staff.
  • inform the University and the UK Border Agency if participant(s) are no longer participating in the scheme.
  • inform UCL Innovation & Enterprise when travelling outside of the UK.
  • attend an exit interview and provide a final status report at the end of the scheme.