Frequently Asked Questions
1. What support do you offer to Innovator Founder applicants?
Consilium has endorsed over 100 Entrepreneurs and Innovators over the past 3 years. Consilium have Endorsed clients across all sectors creating innovative businesses with appropriate professional backgrounds and technical expertise.
Consilium is well placed having worked with the UK Home Office for 3 years understanding the core criteria of Innovation, Viability and Scalability. Consilium also have experience of how to formulate these aspects into a robust business plan and put together a 5-year road map ensuring all aspects are discussed in detail.
Consilium will cover key parts such as objectives, strategies, sales, marketing, and financial forecasts. Consilium can help to write your business plan and assist in clarifying your business idea, spot potential problems, help to set realistic targets and put in a roadmap to measure progress. Any related mentoring work and other consultancy can be part of the package. We offer a bespoke service tailored to the needs of the applicant.
2. Will there be any one-to-one mentoring?
Yes, Consilium will offer one-to-one Mentors alongside workshops that are specially designed for start-up businesses. There will also be a Mentor assigned to the business for 3 years to assist the entrepreneur in navigating the business landscape and to ensure vital KPIs are met.
4. Will Consilium take an Equity Stake in my proposed business?
Consilium will not take any equity stake in the applicant’s proposed business. Consilium believe the entrepreneurs should be fully armed with as much equity as possible as they set up and scale their business. As the business grows, there may be requirement for further fund raising and one of the options the founder will have will be to dilute their shareholding. At this point the greater the shareholding the greater flexibility the founder has at their disposal.
3. What will be the cost of the Innovator Founder Service?
Consilium offer writing a full business plan for £2,000 or Consilium can review an existing business plan written by the applicant for £1,000 (the review will come with a set of recommendations). There is a fee of £199 for an initial assessment (done via zoom) to ensure the applicant meets UK Home Office criteria of Innovation, Scalability and Viability. There are other additional mentoring and value add business services which the applicant can choose to take if applicable. All costs are exclusive of VAT.
5. Can you endorse Innovator Founder Applications?
Consilium are not authorised to endorse Innovator Founder Applications. Consilium are only authorised to work with their existing portfolio of Innovator and Start-up clients. Consilium will continue maintaining and monitoring their existing endorsed migrants. Consilium can only give further and new endorsements to existing endorsee cohort.