This is the age of Start-ups. Youngsters of the present day prefer to start their own business to being employed with already established companies/business or in some cases, are involved in both. The main reason for this is; the limited growth opportunity offered by corporations which already have an established organisational structure.
Start-ups offer the founders adequate opportunity for creative thought and experimentation and to be the direct beneficiaries of the profits arising from their effort, creativity and risk.
Recognising the importance of start-ups and their wealth generation potential, the UK introduced a new category of visas solely to allow founders (having graduated from a UK university and obtained endorsement from authorised bodies) who have developed sustainable business modules of their ideas, to set up UK based businesses.
The start-up visas replaced the previously existing Tier 1 graduate entrepreneur visa.
The main advantage of this category of visas is that it does not require any initial investment funds.