A proposal that will make it easier for foreign entrepreneurs in the US to start the next Google or Yahoo will be debated in the new year.
Congressman Jared Polis has proposed a start-up visa to entice “foreigners with good ideas” to stay in the US.
The issue has been gathering steam in Silicon Valley where half of all tech company founders are immigrants, according to Duke University research.
The idea is part of a proposed overhaul of the US immigration system.
“Every day the American economy is losing ground – not to mention high-tech jobs and technologies – to India and China because foreign-born entrepreneurs cannot secure a visa to stay in the US,” he said.
Eric Diep, who has just turned 22, could be regarded as one entrepreneur who got away.
He came to Silicon Valley as a student like many immigrant founders who have helped start companies such as Google and PayPal.
Mr Diep was one of the first developers to get into social games with his application called Quizzes, initially launched on the social networking site Facebook.
Over a year ago he started to apply for a visa to allow him to carry on working in the Valley, but he soon encountered problems.
“The reason it was so difficult for me was because I dropped out of university and the stipulation for a lot of visas is undergraduate experience. My age also seemed to be an issue for the attorneys
“At the beginning it wasn’t the expense in terms of legal fees but the big problem soon became one of distraction. I was trying to spend as much time working on perfecting my product but then I would have to go away and figure out the legalities of applying for the visa,” Mr Diep told BBC News.
In the end, Mr Diep decided to base himself in his native Canada and travel back and forth to Silicon Valley.
“The flying is so tiring between the two places and it’s expensive. At one point, I had no money left in my bank account but at the last minute money came in and now I feel pretty fortunate that I can still do this.
“It was a pretty close call,” he added.
He backs a start-up visa because, for him, being in Silicon Valley is where he needs to be.
“Being there at the time really launched me. I would never have spotted the social gaming opportunity had I not been there.”
The Latest on: Foreign entrepreneurs in the US
via Google News
The Latest on: Foreign entrepreneurs in the US
- The COVID-19 Crisis Has Catalyzed Vision 2030on March 3, 2021 at 1:44 am
The pandemic has prompted a much-needed agenda revaluation, pushing Saudi leaders to move with a greater sense of urgency toward economic diversification.
- The ePlane Company Raises $1 Mn In Seed Round Co-led By Speciale Invest And Naval Ravikanton March 2, 2021 at 10:03 pm
IIT-Madras incubated startup The ePlane Company, which is betting on eradicating traffic by building electric planes for short-range intracity commute, on Wednesday announced to have raised $1 million ...
- Serial Entrepreneur Hector Sosa Flores Featured in New Articleon March 2, 2021 at 9:29 pm
Serial entrepreneur Hector Sosa Flores discusses the effect, both good and bad, of COVID-19 on the precious metals industry.SAN DIEGO, CA / ACCESSWIRE / March 2, 2021 / In a recent article, Hector ...
- Natali Budzei, Dubai Based Ukrainian Entrepreneur Launches New Luxury Producton March 1, 2021 at 8:16 pm
One of such is Natali Budzei, an entrepreneur, lawyer, and multi-business owner. We wonder how she finds the time to run three businesses and keep up her vibrant social media presence. Natali is one ...
- Panama vs Costa Rica: The Facts on Applying for Residencyon March 1, 2021 at 10:18 am
Establishing residency in Panama or Costa Rica could offer many advantages for international entrepreneurs. But selecting a country that meets personal needs and understanding the regulation ...
- Serial Entrepreneur Hector Sosa Flores Discusses Essential Workers in New Featureon March 1, 2021 at 3:15 am
Serial entrepreneur Hector Sosa Flores discusses the significant role mining workers play in the global economy and notes that their labours continue amid the pandemic. SAN DIEGO, CA / ACCESSWIRE / ...
- Big Tech set for starring role at Beijing’s ‘two sessions’ political gala amid regulatory heat and US tech waron February 26, 2021 at 6:02 pm
Tech entrepreneurs at China's biggest annual political gala next week will be under pressure on two fronts as Beijing pushes its national strategy of technology independence while ratcheting up ...
- Here’s the first thing President Biden should do to spark entrepreneurship in the U.S.on February 25, 2021 at 1:36 pm
The most powerful lever President Joe Biden can pull to catalyze entrepreneurship in the U.S. is immigration reform. That's according to two experts from the venture capital community who spoke at ...
- America should throw open its doors to immigrant entrepreneurson February 24, 2021 at 12:44 pm
The Biden administration should restore a rule that allows immigrants who have proven records as entrepreneurs to come and stay.
via Bing News