HeySuccess featured on BBC: “The global fight to attract foreign entrepreneurs”

HeySuccess featured on BBC: “The global fight to attract foreign entrepreneurs”

by Innovation Warehouse, 5 March 2015

While it may at first seem odd that national governments are cheering for foreign entrepreneurs, it is in fact a growing trend.

For in the increasingly competitive global economy, a rising number of countries are trying to poach talented young businessmen and women from overseas, encouraging them to set up shop in their nations instead.

The hope is that the businesses in question will then grow, creating employment, wealth and tax revenues in the host country.

Such targeting of young entrepreneurial talent is the type of focused immigration that mainstream political parties agree upon. It is a world apart from the rows and concerns about levels of mass immigration.

Therefore, such government-backed schemes as Start-up Chile, and the UK’s Sirius programme, invite overseas entrepreneurs, typically recent university graduates, to apply for a limited number of places each year.

Successful applicants are then given living expenses, work visas, free office accommodation, mentor support, and access to potential investors for 12 months or so.

After this time the hope is that the startups can stand on their own feet, and with visas extended, remain in that country.

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In the UK, Serbian brothers Igor and Milenko Pilic are using the help of Sirius – which is run by UK Trade & Investment – to launch their website Hey Success, which lists global opportunities for students, such as scholarships, events, grants and competitions.

Milenko Pilic, 27, says: “It would have been impossible for us to launch the business in Serbia. Being in the UK gives us a global profile, and access to finance. We are here for good.”

Here’s the full article “The global fight to attract foreign entrepreneurs” by Will Smale, Business reporter, BBC News.