Grants, funding & support

For Founders by Founders

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Harry McDonough & Ricardo Pascual
September 26, 2024

Hello Innovators and Entrepreneurs! 👋

In this week's article, we're diving into a hot topic: This week’s newsletter breaks down the essential steps and challenges for international Startups & students looking to start a business in the UK. Each section provides a quick overview and key points to help you get started.

Why Set Up in the UK?

Overview: The UK is a global hub for startups, offering great opportunities for entrepreneurs. Its strong financial system, access to venture capital, and top universities make it an attractive place to start a business.

Challenges ⚠️

Overview: While the UK has great potential, international students face specific challenges, particularly around visa regulations and legal requirements when trying to establish a business.

  • Navigating visa rules as an international student

  • Legal complexities and restrictions on work and business during studies

    Find out more

How to Set Up Legally 📝

Overview: Setting up a business in the UK requires meeting specific legal requirements. Registering your business, appointing directors, and securing a registered office are all key steps.

  • Register your company with Companies House (£12 fee)

  • Appoint directors, create a memorandum, and secure a UK-based registered office address
    Register a company

Costs 💰

Overview: The initial costs of setting up a business are relatively low, but it's important to consider other potential expenses such as accounting, legal services, and day-to-day operations.

Finding a Registered Office Address 📍

Overview: Every business needs a registered UK office address. This is where official documents are sent. For international students, virtual offices can be a cost-effective solution.

Setting Up on a Student Visa 🎓

Overview: International students on a Tier 4 visa have restrictions on running a business. However, there are post-graduation visa options that allow you to pursue your entrepreneurial ambitions.

  • Tier 4 visa: Restrictions on starting or running a business while studying

  • Options after graduation: Graduate Visa or Innovator Visa
    Read about the Graduate Visa

Visa Implications 🛂

Overview: Starting a business without the correct visa could have serious consequences. Always seek professional advice before moving forward to avoid putting your visa status at risk.

  • Breaching visa rules can lead to penalties or deportation

  • Always consult an immigration advisor before starting a business
    Learn more about visa rules

What Are Your Options? 🤔

Overview: While studying, students have limited options for starting a business. However, after graduation, pathways like the Graduate Visa and Innovator Visa open up opportunities for entrepreneurship.

  • Graduate Visa: Start a business post-graduation

  • Innovator Visa: For those with a viable business idea

  • Co-Founder: Partner with a UK-based co-founder during studies
    Check out the Innovator Visa

At The Startup Events open mic session, Guy Stern from Flow Legal delivered an impressive pitch on their innovative AI-powered SaaS platform. Flow Legal is designed to streamline the process of drafting and managing legal agreements, making it easier for startups and growing businesses to handle legal matters efficiently.

With Flow Legal, entrepreneurs can save time and reduce the complexity of creating legal documents, allowing them to focus on what really matters—growing their business. This cutting-edge platform is transforming the way legal operations are managed, providing an accessible and user-friendly solution for business owners.

Why Flow Legal is a Standout Startup 🚀

  • AI-Powered Legal Solutions 🤖: Flow Legal uses cutting-edge AI technology to streamline the creation of legal agreements, making the process faster and more efficient for businesses.

  • SaaS Platform 💻: Their cloud-based platform allows businesses to manage legal documents from anywhere, making it accessible and convenient for startups and growing companies.

  • Time-Saving ⏳: By automating much of the legal drafting process, Flow Legal reduces the time spent on paperwork, freeing up business owners to focus on scaling their ventures.

  • Simplified Legal Management ⚖️: Flow Legal simplifies the complexity of legal operations, making it easier for non-legal professionals to navigate legal agreements without confusion.

  • Traction 📈: Flow Legal is gaining momentum, with increasing interest from startups and growing businesses looking for an efficient, scalable solution for their legal needs.

  • Founder Expertise 👨‍💼: Guy Stern, the founder, brings a wealth of experience and vision, driving Flow Legal's success in addressing a key pain point for businesses.

The Start up events have Partnered with Notion We’re offering 6 months of new Plus plans, including unlimited Notion AI so you can try it all for free!

Redemption Instructions:

Enter the code: STARTUP4110P50329

The Start up events have Partnered with RCK a Tax Consultancy Specialising In R&D Tax Relief. RCK are Offering free health checks for 20 startups.

Station Innovation Zone – Innovation Funding Programme – Year Three

Connected Places Catapult, in collaboration with Network Rail and funded by Innovate UK, is excited to announce the third year of the Station Innovation Zone (SIZ) Competition, supporting SMEs to test new ways of improving various aspects of the passenger experience.

cp.catapult.org.uk/opportunity/station-innovation-zone-innovation-funding-programme-year-three

National Centre for Accessible Transport Expression of Interest

The National Centre for Accessible Transport (ncat) is a consortium, formed with the mission to shape the future of accessible transport for disabled people across the UK.

cp.catapult.org.uk/opportunity/national-centre-for-accessible-transport-expression-of-interest

Local Authority Transport Decarbonisation Accelerator

Introducing the Local Authority Transport Decarbonisation Accelerator programme, which is dedicated to supporting both small and medium-sized enterprises (SMEs) and local areas to meet the opportunities and challenges of place-based net zero commitments.

cp.catapult.org.uk/opportunity/local-authority-transport-decarbonisation-accelerator-24-25

Accelerator Programmes | Geovation

The Geovation Accelerator Programme is a uniquely founder-friendly programme designed to help entrepreneurs build their business and help them solve real wo ...

geovation.uk/apply/accelerator

In this episode of Innovation Conversations, Tyler Gordon shares his journey as a serial entrepreneur who made the bold move from the US to Portugal. He reflects on the cultural differences between the two countries, particularly in work-life balance, and the unique challenges he faced starting a business in a new environment. Tyler discusses his innovative concierge medical practice, TejoMed, which focuses on personalized care and understanding the root causes of health issues.

Tyler also offers a candid comparison of the entrepreneurial landscapes in Portugal and the US, touching on the importance of community support, the challenges of bureaucracy, and navigating taxation. His insights provide valuable lessons for entrepreneurs thinking about expanding internationally or exploring the healthcare industry.

Tune in for a blend of entrepreneurial wisdom, innovative healthcare insights, and practical advice for business leaders looking to make their mark internationally.

The Innovation Conversation - Tyler Gordon

ESCP Startup Events - Networking, Investor Relations & Open-Mic Pitching

Join us for an epic evening of networking, investor connections, and open mic pitching at ESCP Blue Factory London on October 8th, 2024!

www.eventbrite.com/e/escp-startup-events-networking-investor-relations-open-mic-pitching-tickets-1001243374887?aff=oddtdtcreator

The Startup Events Sponsors

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