How much does this cost me?
The 88 Initiative charges companies for the recruitment of the candidate and on the size of the associated investment. There are no direct charges for our Future Entrepreneurs. By joining our programme you will qualify for the Tier 1 Entrepreneur Visa. If you need a visa there is a cost of £6000 payable to our legal partner. They will deal with all the paperwork and background checks to assist you in getting your Tier 1 Visa. They will also handle the Anti-Money Laundering (AML) check during the investment stage.
Am I qualified for the programme?
We accept that entrepreneurs come in different shapes and forms. However, to really benefit from this programme you need to meet the basic criterion as follow
- Have the relevant contacts in China;
- Have the capability of investing at least £200,000;
- have the ambition and interest in working for the business and fulfil the tasks set out in the job description;
- ability to obtain the required visa and work permits;
- Have adequate written and speaking skills in English
Do I need to live in the UK (or China) to participate in this programme?
This programme is to encourage Chinese entrepreneurial individuals to join an established UK business as a committed team member. Your role in the business is to build the company with the management team and assist with the market entry into China. As a guide only, we estimate that the job will usually require 70% time spend in the UK and 30% in China.
I have a business idea, can I get funded through your programme?
Congratulation! Idea is the first step to entrepreneurship, it is a tough but rewarding route.
Unfortunately at this stage our programme is designed for entrepreneurial individuals who have great skills, investment capital but without an idea of their own. In the future we may setup a fund to invest into great ideas. If you need seed funding to setup the business, first consider the 3F’s (friends, families and fools!). Alternatively you could contact local angels group, incubators. There are also various grants available from the Technology Strategy Board in certain sector of business. But be sure you have a solid business plan ready. Good luck!
I am interested in investing in one of these companies but do not want to involve in the running of the business, is that possible?
The 88 Future Entrepreneur Programme was created to help budding Chinese entrepreneurs to learn about business while helping innovative UK companies develop their presence in the Chinese market. The companies who join the programme are primarily looking for people like you! However, if you are looking for investment-only opportunities please do contact us. We have good connections with to venture stage companies in the UK. We can help introduce you to the right opportunity.
What support does 88 initiative provide to the Future Entrepreneurs?
Once you are enrolled into the programme as a Future Entrepreneur and joined one of these companies, the 88 Initiative will provide ongoing support to both you and the business – the better entrepreneur you are… the better it is for us. The range of support includes regular workshops in London and informal mentorship by one of the experienced entrepreneurs in our network. We are evolving the programme through feedback from all concerned: we welcome all suggestions from our Future Entrepreneurs as to what additional support they feel would be of benefit.
I don't need a visa, how do I apply?
Getting a Tier 1 Entrepreneurship visa is not vital to the programme. We provide the service as a means to allow those who do need one get involved in a UK business. If you do not need a visa, you will still need to meet the other criteria to be eligible. When you fill your application form, please state that you do not need a visa.