For the startups who are looking to expand to United Kingdom., this might be a great time to pursue your plan. The Department for International Trade announced the launch of a pre-seed investment firm, the Entrepreneur First (EF). This is one of the organizations that the UK government recognizes which can endorse companies for entrepreneur visas.
In a post published by the agency, new businesses with “high growth potential” are eligible to apply for the visa and be able to launch their business in the country. In order to qualify for an entrepreneur visa, the startup owner has to receive at least £50,000 funding from a UK government-approved organization
The post also states that:
“EF is particularly interested in founders who want to solve hard technical problems. Their alumni are having an impact in fields such as artificial intelligence, drones, security, virtual reality and the blockchain and have raised funding from the world’s leading venture investors.”
Once approved, the next step for these startups are required to join a six-month program where the support in developing their team and product, and possibly receive additional investment, the post further stated.
Entrepreneur First was founded in 2011 and backed by major investment players such as Greylock Partners, Reid Hoffman, Peter Thiels Founders Fund and Mosaic Ventures.