via https://www.agenciamestre.com
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.
Lost opportunity
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
- Budget 2021: Policy changes startups need in the post-coronavirus worldon January 27, 2021 at 6:34 am
Startups need two resources—funds and talent. The pandemic put a sharp spotlight on India to become Aatmanirbhar (self-reliant).
- What Biden's 'Buy American' executive order means for US small businesseson January 26, 2021 at 1:17 pm
Small and midsized manufacturers in particular will have access to more information about federal purchasing decisions and contracting opportunities.
- How Ghana’s history is hurting entrepreneurshipon January 26, 2021 at 10:23 am
History has shown that Ghanaian banks have become very comfortable charging larger spreads (risk premium) above the risk-free rates, they attribute it to risk. It is however perplexing why a country ...
- The biggest opportunity for entrepreneurs is now – Jake Tayler Jacobson January 25, 2021 at 11:05 pm
Being an entrepreneur can be a lonely and difficult journey. It’s exciting when you’re recognized for your work and get to meet new people who are in the same position as you. This recognition has ...
- Stirring The Status Quo In Wealth Managementon January 24, 2021 at 2:31 pm
After an astounding success removing inefficiencies in stock trading through Zerodha, Nikhil Kamath has set out to disrupt the wealth management space with his next venture True Beacon, an asset ...
- U.S. China Policy Must Confront the Genocide in Xinjiang Firston January 21, 2021 at 10:35 am
He’s currently presumed to be held in one of the infamous internment camps in Xinjiang without access to anyone, including his family—one victim among millions of government atrocities that the United ...
- Starting A Business In A Tropical Paradise - 6 Lessons From A Successful Zanzibari Entrepreneuron January 19, 2021 at 4:09 am
The appeal to work and live in a tropical paradise is self-explanatory. But difficulties to access capital and skilled labour as well as dealing with bureaucratic minefields can be off-putting to any ...
- Justin Owens, the 34-year-old entrepreneur who leads by exampleon January 19, 2021 at 12:32 am
Justin Owens who hails from Stockbridge Georgia is a personal growth mentor, leadership expert, and financial strategist. He discovered his path in the foreign exchange markets and teaching others. He ...
- Foreign Direct Investment during the Reform Eraon January 18, 2021 at 3:54 pm
In this book, Yasheng Huang makes a provocative claim: the large absorption of foreign direct investment (FDI) by China is a sign of some substantial weaknesses in the Chinese economy. The primary ...
via Bing News
