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Finally, a Startup Visa That Works

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Re: Finally, a Startup Visa That Works

#81

Post by betolive »

marcamillion wrote: post #50

Wow....there is a lot of hyperbole generated on Techcrunch but this post is spot-on. If this bill had been passed while I was still in the US, it definitely would have convinced me to stay. The truth is, that if it is passed, I just might be inclined to go back - under the third category. We will see what materializes though. This could be pretty interesting either way.

Agree! pretty interesting times are coming... I had to leave 7 months ago because I wanted to focus on my startup and I was not able to do it with my H1 job, the discussion ahead related to this topic is worth watching

Re: Finally, a Startup Visa That Works

#82

Post by hopstar »

If only other countries would follow suit. Afew years ago I had a great plan in place for an internet cafe (and more) planned for a great location in Grenada, and was basically told that I needed close to $300k in assets and/or financing in order to qualify for residency and make it happen. The entire project could have gotten off the ground for less than $200k (for which I had good faith agreements), and my plan involved hiring at least 3 locals to start with, so why did I need the other $100k?

"Just because..." was pretty much the only answer that the immigration officials could give me.

Oh well, it was a great 9 month vacation while it lasted...

Re: Finally, a Startup Visa That Works

#83

Post by ojbyrne »

speleding wrote: post #75
noelsequeira wrote: post #13

I'm an Indian entrepreneur, and much as I'd love to see #3 see the light of day, I have this sinking feeling it's just way too ripe for exploitation. Foreign entrepreneurs whose business has generated at least $100,000 in sales from the U.S. Two years later, the startup must have created three new American jobs and either have raised over $100,000 in financing or be generating more than $100,000 in yearly revenue. A…

I agree that it sounds too easy. My startup easily has $100K in accumulated sales from the US, so I would all of a sudden qualify for a visa. That's perplexing if you know how much trouble they made me go through to attend a US university (and send me packing right afterwards). Then again, even with some abuse of the rules I think this would probably be a good deal for the US economy. Anyone who is able to "fake" $10…

I'm going to guess that means $100k in annual sales. Its not entirely clear on that point, but the mention of the same number required annually after being approved seems to suggest that. Your use of the work "accumulated" suggests you're talking about a period > 1 year.

Re: Finally, a Startup Visa That Works

#84

Post by ojbyrne »

crux_ wrote: post #70
ssp wrote: post #68

Earlier quoted context omitted.

They already have almost the same leverage: "Agree to our terms ... or lose your business". Competition among investors would probably prevent this from becoming a big issue.

Why is that anything close to "the same"? Example: a 3-person $400k-revenue business a year and a half old would normally be able negotiate with investors from a position of great strength, because they can painlessly walk away from a deal -- if they're talking to investors at all! Same situation, only with founder(s) on a startup visa? They'll be going hat-in-hand for 6mo from VC to VC with no choice but to close a…

Except they do have an alternative. Move the company outside the US.

Re: Finally, a Startup Visa That Works

#85

Post by muzz »

tghnjtghn wrote: post #43
JCB_K wrote: post #14

On the hand one I love this. On the other hand, this means it's going to be harder for a startup scene to take off in any European city.

It's going to hit Vancouver - the place is currently full of startup people that couldn't get US visas

What notable startups have come out of this community in Vancouver?

Re: Finally, a Startup Visa That Works

#86

Post by muzz »

dman wrote: post #10
ojbyrne wrote: post #3

All I can say is I find category 2 - Workers on an H-1B visa, or graduates from U.S. universities in science, technology, engineering, mathematics, or computer science—if they have an annual income of at least $30,000 or assets of at least $60,000 and have had a U.S. investor commit investment of at least $20,000 in their venture. Two years later, the startup must have created three new American jobs and either have…

Great way to unlock innovation. No more of spending your 20's trying to get a green card.

Why would an innovator spend their 20s trying to get a green card, instead of innovating elsewhere?

Re: Finally, a Startup Visa That Works

#87

Post by philwelch »

tghnjtghn wrote: post #73
gridspy wrote: post #53

Earlier quoted context omitted.

If the founders are working in their own company, contributing to the local economy, is this really a problem for the U.S?

I worked for a european company that had a US sales office. It employed a receptionist and a US sales guy. If we added a cleaner the owner of the company now gets a US passport - was that what was intended? As it happens the owner currently spends the winter there (in Florida) on a three month tourist visa waiver - I suppose having a startup visa might make getting through immigration faster. He has a house, yacht an…

Hang on. No one is talking about automatic citizenship--and that is what a passport signifies. If the owner of your company had a permanent US residency visa, would the US be any the worse off?

Re: Finally, a Startup Visa That Works

#88

Post by Smirnoff »

ojbyrne wrote: post #3

All I can say is I find category 2 - Workers on an H-1B visa, or graduates from U.S. universities in science, technology, engineering, mathematics, or computer science—if they have an annual income of at least $30,000 or assets of at least $60,000 and have had a U.S. investor commit investment of at least $20,000 in their venture. Two years later, the startup must have created three new American jobs and either have…

My question is why this visa limiting to STEM majors only? What about business and finance majors? Aren't business students likely to start a company too?

Re: Finally, a Startup Visa That Works

#89

Post by muzz »

noelsequeira wrote: post #64
gridspy wrote: post #53

Earlier quoted context omitted.

If the founders are working in their own company, contributing to the local economy, is this really a problem for the U.S?

Agreed. But this then essentially translates into a "jobs for founder visas" scheme for relatively larger companies that can afford to immediately hire 3 American candidates. This will, therefore, probably mean a deluge of applications from across the globe and the consequent generation of several more US jobs (which works out great for everyone). Only I'm not too sure we should then call it a 'Startup' Visa.

Bingo. Theoretically, someone could even start an outsourcing firm not unlike Wipro, Infosys, etc, hire 3 employees in the US (a receptionist, etc) and the net impact would actually be a NET loss of many jobs.

Re: Finally, a Startup Visa That Works

#90

Post by muzz »

huherto wrote: post #66
tghnjtghn wrote: post #38

Earlier quoted context omitted.

Most of the monetary requirements are to stop scams - ie where millionaire's kid bills family company abroad for $100K and gets to stay in the US running his company. It's also the reason for requiring qualified investors - to stop this just being family money recycled. Although it is a bit silly that if you invented say a malaria vaccine and had a $Bn in foreign sales you would be deported!

IMHO, it is in the best interest of the US to let rich people in. They have a big potential to invest or consume.

The rich can already invest from outside the country-- capital flows freely across our borders.
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