On 18 March 2015, the government commissioned the MAC to review whether the Tier 1 (Entrepreneur) route is appropriate to deliver significant economic benefits for the UK.
The commission asked the MAC to consider:
- the initial eligibility criteria of access to funds is a sufficient factor of entrepreneurial ability and whether other criteria, for example, assessment of previous entrepreneurial activity and/or testing the purpose of the investment, should be applied
- the existing eligibility and extension criteria are aligned sufficiently with entrepreneurial and early stage business life-cycles, including consideration of the role angel investors and crowd-funding can play
- the route utilising international best practice. As part of this, the MAC is requested to consider the route and incentives to ensure competitiveness
You can read more about the review in the Tier 1 Entrepreneur report and the MAC press release.