The Innovator visa category has replaced Tier 1 Entrepreneur visa category which has now been closed for initial applications (you may still extend and settle under this route).
The innovator visa category is for more experienced business people seeking to establish a business in the UK. Applicants will have an innovative, viable and scalable business idea which is supported by an endorsing body.
You will require funding of £50,000 to invest in your business. The visa will only be open to those who have secured an appropriate endorsement from an appointed professional body and provide a letter from the endorsing body at initial application, extension and ILR application stage.
Successful Innovators will be granted leave for 3 years at a time and can bring their family members to the UK. After 3 years, Innovators can apply to extend their stay for a further 3 years or to settle permanently in the UK.