The “Digital Start-up Scheme” will attract applications from potential high-growth digital businesses from around the world, as well as local residents without Entitled status, who want to launch their own digital businesses.
Tony Moretta, CEO of Digital Jersey, said “We want Jersey to have a vibrant digital industry. By carefully targeting the types of businesses we encourage to set-up on-island, we can stay globally competitive and ensure sustainable and well-paid jobs are available to local people for years to come.”
This new scheme is an extension of an existing programme run by Digital Jersey to assist local firms in accessing skilled employees who can’t be found locally. Since this started in mid-2016, Digital Jersey has helped local firms employ 59 highly-skilled individuals, with an average salary of £54,500, which earns the public an estimated £645,000 a year in tax revenues. In turn, nearly 120 new local jobs will be created off the back of these workers, thanks to the growth opportunities they present for local firms.
To ensure Jersey attracts only the best candidates, and to limit the impact on the island’s population, Digital Jersey has worked with the Population Office to establish a robust entry criteria for the new Digital Start-Up Scheme. Drawing on international best practice and research by the European Commission and the UK Migration Advisory Committee, applicants will need to show high levels of digital skills and education, as well as a credible business plan.
Successful applicants will be granted a ‘Licenced Lease Only’ permission, allowing them to open a business and to have full access to the rented housing market – however they will not be entitled to purchase property. After 3 years, the Licence will be reviewed as part of the normal Population Office process.