As a Canadian entrepreneur with first hand experience navigating the difficult and convoluted immigration/visa process in the United States, I’m happy to hear that Silicon Valley VC Dave McClure is organizing a group of Silicon Valley entrepreneurs who will travel to Washington D.C. to talk with government officials about the Startup Visa Act. The act, introduced last week by Democrat John Kerry and Republican Richard Lugar, proposes a new type of visa for immigrants who create startups and jobs in the U.S. A similar proposal is part of an immigration reform bill in the House.
The Startup Visa Act of 2010 would create a two year visa for immigrant entrepreneurs who are able to raise a minimum of $250,000, with $100,000 coming from a qualified U.S. angel or venture investor. After two years, if the immigrant entrepreneur is able to create five or more jobs (not including their children or spouse), attract an additional $1 million in investment, or produce $1 million in revenues, he or she will become a legal resident.
I think this is a ‘no-brainer’ really. It will attract great minds and fuel the economy with little to no downside.
It would have been nice to at least have this option on the table when I made my way to California from Toronto. I initially entered the U.S. under TN (Treaty NAFTA) status after getting an employment offer from a mobile technology startup based in So-Cal. TN is temporary employment status and not a residency VISA so your time here doesn’t count towards an eventual naturalization. It allows Canadians, Americans and Mexicans in certain high-demand professions to work temporarily in other parts of North America and all that is required is a properly prepared Offer of Employment. This is handed to a border patrol officer who spends about 20 minutes interrogating and demeaning you (or at least in my case) before stamping your passport. The status has to be renewed yearly and there is no guarantee that you’ll get it renewed. TN workers whose employment opportunities are extended to permanent positions generally have to request that their employer sponsor an H1B visa which is a long, expensive, and convoluted process that has no guarantees because of the high demand for H1Bs.
I graduated from a university which at the time ranked in the top-20 globally with a skill set that was in high demand and came from a country that shares the longest unprotected border in the world with the United States – and I found the immigration process difficult and frustrating. I can’t imagine how difficult it is for the undiscovered would-be genius entrepreneurs overseas trying to work towards the American Dream.
America was built by the best and brightest who came here from around the world. As such, the Startup Visa Act is a testament to Americanism and the history of this nation. Let’s hope the delegation of Entrepreneurs have their voice heard.