People who want to start a business in the UK will be able to apply for a new "start-up" visa from 2019.
The initiative, announced by home secretary Sajid Javid at London Tech Week, is intended to make the visa process faster and smoother for entrepreneurs coming to the UK.
To be introduced in Spring 2019, it will replace a visa route which had been exclusively aimed at graduates, opening it up to a wider pool of business founders.
Applicants for a start-up visa will need an endorsement from a university or approved business sponsor, including accelerators. The visa route has been designed following advice from the Migration Advisory Committee and feedback from the tech sector and other stakeholders.
Sajid Javid said: "The UK can be proud that we are a leading nation when it comes to tech and innovation, but we want to do more to attract businesses to the UK and our migration system plays a key part in that."
The new visa, he said, will "help to ensure we continue to attract the best global talent and maintain the UK's position as a world-leading destination for innovation and entrepreneurs."
This initiative builds on other recent reforms to the visa system - including doubling the number of visas available on the Exceptional Talent route to 2,000 per year.