July 29, 2021
U.K. Innovation Strategy Defines Long-term Plan to Attract Global Talent
In a bid to attract global talent to the U.K., the government’s newly announced Innovation Strategy will create a new route for “high potential individuals” to enter the U.K. without first having a job offer. Individuals who have graduated from top global universities will be eligible for this route. This will give applicants the flexibility to enter and secure work, and to switch jobs or employers from within the U.K. To date, there is no published University ranking and further information in this regard is expected to follow. The U.K. government may also expand the eligibility to applicants aside from university graduates.
The Innovation Strategy will also offer a “Scale Up” route allowing individuals with a high skilled job offer at the required salary level from a qualifying “scale-up” employer to enter the U.K. The “scale-up” business will need to demonstrate an annual average revenue or employment growth rate over a 3-year period greater than 20% and a minimum of 10 employees at the start of the 3-year period. This route will give applicants a fast-track process, the flexibility to change between employers and offer eligibility for settled status in the UK.
Further to the above, applicants to the Innovator route will no longer require having a minimum of 50,000 GBP in investment funds. The focus will be on proving that their business has a high potential to grow and add value to the U.K.
For more information on the U.K. Innovation Strategy and new routes for entry for high potential individuals, please contact the Sterling Lexicon immigration team.
As Head of Immigration with Sterling Lexicon, Leanne leads a team of specialists who are responsible for ensuring the entire immigration process is smooth and stress-free for clients, assignees and their accompanying family members. She brings over ten years of experience in strategic immigration management, planning and consultation to her role, and has cultivated invaluable knowledge and experience in processing countless global migration applications. As a trusted partner, she consults with clients on everything from policy considerations and cost or efficiency improvements, to the impact of opening offices in new locations. Leanne is a frequent presenter and author on global immigration topics and trends.