A new research by Creator Fund states that almost 60% of British University start-ups have founders hailing from other parts of the world.
This typically occurs because overseas universities offer a positive environment for young students. It allows them to foster their creativity and skills, and eventually start a business. It forms a mutually beneficial relationship- both for the country as well as for immigrant students.
Attracting international students is a key factor in driving innovation to the UK. Moreover, the UK Government’s introduction of the new Graduate Immigration route is a welcome change for international students looking to live in the country.
This means that international students who complete their graduation (or Ph.D.) from the summer of 2021 onwards will be eligible to stay in the UK for 2 (or 3) years after completion of their degree. It extends even to those who cannot physically travel to the UK for completion of their courses because of the Covid-19 restrictions.
The UK Government also confirms that Indian students who will begin their degrees online will be eligible for post-study work visas in the UK.
Growing Opportunities at Start-Ups for Indian and International Students
Many observe that a university is the best place to find young, international students who are brimming with knowledge, skill, and the will to work hard. Furthermore, it is an appropriate place for students to flesh out their talents and try their hands at entrepreneurship. The reintroduction of the post-study work visa is a thrilling beginning to more international students creating their first business ideas in the UK.
What Are the Benefits for Indian and International Students?
Inevitably, this is a welcome move by the UK Government. The Covid-19 outbreak is resulting in the majority of young students being unable to attend their courses physically. Moreover, graduates can’t opt for a post-study work visa without physical attendance at the University.
Now, with the changing policy, students are breathing a huge sigh of relief. They are likely to begin their courses online and still have a fair chance at creating their own business and start-ups in the UK.
Additionally, a university is one of the best places for students to begin their journey into entrepreneurship. This is primarily because it gives them adequate time to flesh out their ideas, collaborate with peers having the same goals, and gain expert advice and insights from their teachers.
As more Indian and International students choose to establish start-ups in the UK, it offers rising employment opportunities for British people as well. To top it off, these new enterprises also create wealth and encourage the growing economy of the UK.
What is the Most Common Nationality of Overseas Students Creating Start-Ups in the UK?
At present, it is the Chinese students who are rapidly creating new business opportunities and start-ups in the UK. However, we can note that international students from other parts of the globe are quick to join this process. Moreover, we can see that more and more Indian students are opting to pursue degrees from UK Universities. These students then go on to creating business ventures and open start-ups in the country.
The National Indian Students and Alumni Union makes an interesting note- “A new chapter in UK – India ties” with an increasing number of Indian students along with British Higher Education are forming the key pillars of this bilateral relationship in “a partnership going from strength to strength.”
What Are the Experts Saying?
Exports Minister at the Department for International Trade and co-chair of the Government’s Education Sector Advisory Group, Graham Stuart, notes that for an extended period, they are tirelessly working towards a common goal. That is, to support all initiates, which will encourage more international students to visit the UK for their graduate studies. He cheerfully reflects that they are finally beginning to reap the benefit of their long-term efforts.
It is also noteworthy that as more international students are choosing the UK for their postgraduate and Ph.D. courses, it is leading to another great benefit. These students are going on to establishing their business enterprises in the UK. Although they are start-ups, they are a thoroughly welcome initiative.
The new start-ups in the country are primarily run by young, International, and Indian students who are fresh out of their courses. These students are enthusiastic, energetic, and full of new ideas. They are not afraid to take risks and make significant investments.
As these students are creating more and more start-up businesses, they are actively enabling an increase in job opportunities and wealth in the UK. Of course, this is great for the economy and is entirely welcome by the UK Government.
In turn, these Indian and International students are getting a fair chance at exploring the international markets and reaching global clients.
UK Universities are an excellent place for young students to foster their talents and skills. They are equipping themselves with all the right knowledge and tools which they need to open up their businesses. As such, the Government is offering all kinds of support to these bright, young entrepreneurs.
Are Students Facing Additional Crisis Due to the Coronavirus Pandemic?
The coronavirus pandemic is causing a great deal of distress and challenges to young students. As such, they are unable to attend their university courses due to the lockdown restrictions. Even if conditions eventually lift, many students may be unable to participate in University physically for other compelling reasons.
This could be a massive challenge for those who wish to study and live in the UK, post their degrees.
Fortunately, the new immigration policies set by the UK Government are providing massive relief to these Indian and International students. The Govt. understands the genuine challenges which people are continually facing because of the Covid-19 outbreak. The new policy is beneficial not only for international students but also for the country itself.
Upon completion of their online courses, these students will attend at least one semester in the UK. This will enable them to gain their post-study work visas and live in the UK without any consequences.