The new route aims to widen the applicant pool of talented entrepreneurs and make the visa process faster and smoother for entrepreneurs coming to the UK.

It will replace a visa route that was exclusively for graduates and will require applicants to have acquired an endorsement from a university or approved business sponsor, including accelerators.

The government says that entrepreneurs play a key role in creating jobs and driving economic growth in the UK and the changes will ensure that the UK remains a world-leading destination for global talent.

Javid says: “The UK can be proud that we are a leading nation when it comes to tech and innovation, but we want to do more to attract businesses to the UK and our migration system plays a key part in that.

“That’s why I am pleased to announce a new visa for people wanting to start a business in the UK. This will help to ensure we continue to attract the best global talent and maintain the UK’s position as a world-leading destination for innovation and entrepreneurs.”

The expanded route will launch in Spring 2019, with further details revealed in due course. The visa route has been designed following advice from the Migration Advisory Committee and feedback from the tech sector and other stakeholders.

Image by Yoel on Morguefile.com