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How can we make the Tier 1 graduate entrepreneur Visa work?
Transcript of How can we make the Tier 1 graduate entrepreneur Visa work?
Ability and time to scale to meet £50K threshold
Test trading & evidencing demand under Tier 4 constraints
What constitutes a good business idea?
Process time consuming for staff compounded with high numbers of non-genuine applicants in early stages.
Launched in 2012 - 1900 HE endorsements available
119 granted in 2012-13 (6% of allocation)
286 granted in 2013-14 (15%)
73% of UK Universities on the programme
The Tier 1 Graduate Entrepreneur Visa
"Innovative & Worldclass" to "Genuine and Credible"
No longer within 12 months of graduation
Can endorse students from other universities
New additional medical fee
Restriction on property related business
Changes to the programme
Ranging from 0 to 22 endorsements a year
79% actively promote the scheme however nobody is saying they are overwhelmed with applications and 37% have seen little interest
25% charge fees; from £100 to £5000
57% found it a positive experience
22% found it very positive
What constitutes a good business idea? What makes it “genuine and credible”?
What is an appropriate level of process, rigor and accountability? Are some of us making it too difficult for students and ourselves?
Should HEIs charge their own students? If so, how much is fair?
What recommendations would you make to UKVI to improve the scheme?
22% found it a negative experience
92% would recommend other HEI's to take part in scheme
Universities UK Response to MAC 2015
Made in the UK: NUS and The Entrepreneurs Network Report 2014
Thursday 10th September IEEC 2015
Student Enterprise & Employability Development Officer
62% identified problems with the scheme