Applicants who would like to apply for the innovator visa must provide a business plan that will be endorsed by an authorised organisation that the UK government specifies. The main criteria for this visa category are that one must be able to invest £50,000 for each innovator applicant. Provided that you have a co-innovator or someone who will be a partner for the business must invest at least £50,000 in the business to be able to be permitted for the visa. Additionally, an authorised organisation must endorse your business plan. Only then these criteria will be met. There is also an English language requirement that is CEFR level B2, and also you must confirm that you have sufficient funds to include your costs during your stay in the UK.
This visa type’s advantage is that it offers flexibility for the applicant. If granted, the applicant can work legally in the UK (20 Hours a week), be switched to Innovator Visa after 2 years, do not require initial capital investments, and do not require the applicant to graduate from university. Compared to Innovator Visa, it is a cheaper option.