I've had two cofounder friends (both non-American) who sponsored each others' H1B. Seems like a loophole but it seemed to work :)
Talk to an immigration lawyer before you try this. The H-1B visa was clarified to allow for founder sponsorship, assuming you can demonstrate an employer-employee relationship. To demonstrate an employer-employee relationship you need to be able to show that you can be fired from your company, which is difficult to show if you're the only two founders on the board, and you each own 50% of the company. I'm not saying…
That said, the fact that the H-1B process is now a lottery - i.e. no matter qualified you are or how good your lawyer is, it's still a roll of the dice - makes it hard to recommend if you actually want any ability to plan for the future.
H-1B also puts more scrutiny on the company, so you'll probably need to have raised money (so you can prove you can pay yourself a market rate salary), have an office, etc.