So okay it might not be new but I discovered this today. Actually I discovered a lot today, I joined change.org (and I recommend everybody who cares about others do the same) and there I read about the Start Up Visa Act.
The Start Up Visa Act is a bipartisan initiative to spur innovation in the US. ANy foreign-born entrepreneur that can get at least $250,000 of US investment can get a temporary Visa for period of one year to establish its business in the US. At the end of this year if they have reached the (high) level of $1 million US investment AND have created at least 5 full-time jobs, they can get a permanent visa.
So well for someone like me who thinks that the US are much better than our home country for entrepreneurship it is great news. Granted it puts a strain on your mental health if at D-10 you are still at $250,000 investment but after all we cannot ask yet to have the same situation as everybody else because of our status of foreigner. Will it relaunch the American dream? Most certainly will I want to say and on a more general ground it will relaunch competitiveness in America and this for three reasons:
- On a foreigner point of view it will motivate more people to set up businesses in America. Let's face it, the best entrepreneurship ecosystems (Boston, New York City, BOulder, Austin, San Francisco and Seattle) are in America and currently it is pretty much impossible for foreign start up to set up operations there. It is not that we do not want to, it is that we cannot do so.
- On a local point of view it will flatten the competition between American and foreign companies for investment. Sure American investors are more likely to invest in an American company that does not have this temporary status but if your product is better, they will be drawn to investing in yours rather than other.
- Which leads to my third point, it will increase competition between companies, we will have to be the best to get those investments, and by spurring competitiveness, you generate better, more efficient and more nimble organizations
Now the act is not yet finished and people are lobbying for it to get a move on, and we can take action on that. How? By joining change.org and looking up for the act and signing the petition.
I made it easier for you to do so by clicking on this link http://socialentrepreneurship.change.org/blog/view/tell_congress_to_pass_the_startup_visa_act
You can do something today, they need 200 signatures on the petition and they have 99 so far.
Josephine
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