Last week TechStars London was approved for the UK Entrepreneurs’ Visa. If you are accepted to TechStars London, you now automatically get the UK Entrepreneurs’ Visa.
The approval will allow TechStars London teams from outside of the EU to work in the UK for up to three years. After the three years, they can apply to extend their stay by a further two years if they want to continue living here. Furthermore after three years teams have the right to apply for permission to settle in the UK if their business has created at least 10 new full-time jobs in the UK. Partners and children of the teams can also apply for settlement.
As you likely know, I’ve been advocating for something like this in the US since 2009. Fred Wilson wrote a good post yesterday on the current state of Immigration Reform in the US which includes a summary of the recently introduced comprehensive immigration reform bill. It includes a bunch of things I’ve advocated for since I started paying attention to this in 2009, including a Startup Visa and a STEM Visa (or – in my language – “a Visa stapled to the diploma of every college graduate.”)
I hope we finally get something done in the US. In the mean time, Canada and the UK are being very forward looking about their immigration policy in the context of immigration. The US doesn’t have a monopoly on innovation – it’s time for us to get our act together on the immigration front. In the mean time, TechStars London applications are open!
Jon Bradford and I have known one another since before the development of the Mentor Manifesto. Today we’re bringing Jon and his team at Springboard in London into the TechStars family as they re-brand to become TechStars London, our first international program. We have every confidence in them as a high-quality extension of the strong ecosystem we have already built here in the US.
Springboard has always been focused on helping entrepreneurs and TechStars’ support and expertise provides UK and European entrepreneurs the best opportunity to improve their likelihood of success. Our priority is to support great companies from the region in London (accepting applications from everywhere) and there’s no requirement or expectation that the companies will need to relocate to the US. We will build on the mentor network that Springboard has already started in London and supplement it with mentors from the broader TechStars network in the States.
Any and I are going to spend two weeks in London this summer during the program. I lived in London for a summer when I was 16, worked for Centronics (the creators of the parallel port), wrote dot-matrix font creation software for the Apple II, got paid with a Centronics 351 printer, learned how to drink a lot of beer, watched Pink Floyd The Wall for the first time, and spent a week wandering around in Paris in August when no one was there. I’ve always felt super comfortable in London and am looking forward to hanging out with the newest members of the TechStars family, while drinking a lot of beer.