A major campaign to encourage highly skilled entrepreneurs to set up business in Jersey is to begin in the new year.
Digital Jersey will be fronting the initiative, in the hope of attracting 20 such people as part of its Digital Start-up Scheme. It comes just days after the government’s new migration policy highlighted the need for immigration which focuses on those with skills the economy needs.
It’s working to target 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 follows a current programme which assists local firms in finding skilled employees when such skills don’t exist on-island.
Since it 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 as the local companies grow.
Digital Jersey is working with the Population Office to establish a robust entry criteria for the new Digital Start-Up Scheme. 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 “Licensed Lease Only” permission, meaning they can open a business and have full access to the rented housing market, though they won’t be entitled to purchase property. After 3 years, the licence will be reviewed as part of the usual Population Office process.