Many endorsing bodies interview applicants before deciding on endorsement. The interview checks two things: that the business stands up to questioning, and that the plan is genuinely yours. Founders who did not write or understand their own plan are found out quickly here.
The exact questions vary by endorsing body and by business. These are the themes assessors commonly explore, grouped by the three tests.
Innovation questions
- What exactly is new about your business compared with what already exists in the UK?
- Who are your closest competitors, and why would a customer choose you over them?
- Is your innovation protectable, or could a competitor copy it quickly?
- How did you identify this gap in the market?
How to prepare: be able to name your top three competitors without notes and state your difference in one sentence. If you have a prototype, offer to show it.
Viability questions
- What in your background qualifies you to run this business?
- How will you fund the business for the first 12 months?
- What evidence do you have that customers want this?
- Walk me through your first-year revenue assumptions.
- What will you do if sales are slower than forecast?
How to prepare: know your key numbers by heart, such as price, monthly costs, break-even point and funding, and be able to explain where each one comes from.
Scalability questions
- How many people will you employ in years one, two and three, and in what roles?
- How will you expand beyond your first market?
- What are your milestones for the next 12 months?
How to prepare: your hiring plan should match your revenue forecast. Assessors notice a plan that hires ten people on revenue for two.
Ten-minute preparation checklist
- Explain the business in 30 seconds without jargon.
- Name three competitors and your difference from each.
- State your year-one revenue and the assumption behind it.
- State your funding and what it pays for.
- List your next three milestones with dates.
- Demo your prototype, if you have one, in under two minutes.
Immigration rules and fees change. We write business plans; we do not give immigration advice. Always confirm the current rules on GOV.UK or with a regulated immigration adviser or solicitor before you apply.
Frequently asked questions
Does every Innovator Founder applicant have an interview?
Practice varies between endorsing bodies and cases. Prepare as if you will be interviewed.
Can my business plan writer attend the interview?
The endorsing body wants to hear from you, the founder. That is why you must understand every part of your plan yourself.