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Contractor flagship UK visa programme launched by Gordon Brown in 2008 to attract the "best and brightest" in the United Kingdom was "not delivering", said the Ministry of the Interior.

Instead, David Cameron, the Prime Minister launched "new entrepreneur visa" which would be the criteria for entry relaxed so that most third-party contractors could enter the country.

Mr. Cameron said, this would mean "If you have an idea of the great business and serious investment of a principal investor, you receive the welcome set your company in our country".

A spokesman for the Ministry of the Interior said the existing system had "failed draw numbers, that we wanted."

"Strict and heavy current policy requirements say that only a few hundred people use the each year," she says.

To be eligible, entrepreneurs should have at least ￡ 200,000 eliminating cash to invest in the company to the United Kingdom.

Separate regime "investors visa", designed to enable persons over 1 m ￡ to invest in companies, had approved only 155 people last year.

Numbers of compare with 1,265 application received by the U.S. citizenship and immigration services in 2009 within the framework of its own visa - the EB5 contractor.The visa allows entry to the United States entrepreneurs willing to invest 1 m $ in their business and create 10 based jobs in the United States and the number is double received in 2008.

The US National Venture Capital Association reported that U.S. business venture 25pc supported in the past 15 years were founded by the India immigrants.Après, the United Kingdom provided the greatest number of entrepreneurs who have moved to the United States.

Alongside the new UK visa, the Government has announced that he was a "Global Entrepreneurship program" managed by UK Trade & Investment incentive realignment for innovative technology companies to move to the United Kingdom.

The "global technology group" will be given "at least 15 m from ￡" to attract people with a valuable intellectual property and business.

Initiatives were part of the Department business new "plan for technology", which included examines this year of the imposition of IP (ft) and the impact of the book of several billion research and development tax credit.

The intellectual property of the United Kingdom will also launch a pilot "peer review" system approval of patent to help accelerate demande.Fonds local authority pension process have been also urged "to take into account further" to invest in start-ups.

Simon Cook, Associate Director European venture (VC) Draper Fisher Jurvetson, Silicon Valley company supported the Government's position.

"We believe Silicon Valley is as much a State of mind as a place and therefore believe firmly entrepreneurs can develop truly changing world of global corporations a base here in London."

"That is why we are one of the growing number of Silicon Valley venture capital actively develop partners on the ground in London to invest in companies locales.Entrepreneurs can start businesses everywhere today and Governments must compete for their Prime Minister talent.Le acknowledges this in its vision and the endorsement of the contractor is an exciting example."

Separately, the giants Intel and Cisco technology promised to invest in the region of London Olympic Park after the games to support the vision of the Government to create "a city of technology" in the region.

Intel will be "extend" existing Winnersh, focused on reading "Faster Lab facility", which performs the calculation of financial services, while Phil Smith, CEO of Cisco UK & Ireland said that his company would be put in place an "innovation centre" host "several million technology books.

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