Kerry/Lugar just introduced "The Startup Visa Act of 2010" to encourage entrepeneurs to come here.

[beachmom]

Got this via Tech Crunch:

http://techcrunch.com/2010/03/02/silicon-valley-delegation-to-go-to-d-c-to-rally-support-for-startup-visa-act/

The U.S. needs to be more welcoming of startup founders, no matter where they were born. But the illegal immigration debate is so politically sensitive that startup founders, who create tons of jobs, get lumped in with migrant farm workers and the discussion sort of comes to a crashing halt there. Now is the time for us to rally, though, and avoid this type of situation. There is real momentum behind the Startup Visa Act, and there’s a realistic chance that, for once, our government can do something to actually help the innovation ecosystem in Silicon Valley.

On Thursday 20 or so Silicon Valley entrepreneurs will travel to Washington D.C. to talk with government officials about the Act, introduced last week by Senator John Kerry (D-MA) and Richard Lugar (R-IN), and drum up more support. Venture capitalist Dave McClure is organizing the trip.

The Startup Visa Act of 2010 would create a two year visa for immigrant entrepreneurs.

I'm a big believer in "American DNA", as in there are certain people all over the world who have a hungry spirit and are more likely to come to America and become Americans than others. Often, these people are entrepeneurs (as well as scientists and researchers). These folks are part of the reason why America has stayed on top as long as it has. I have been very worried that ever since 9/11 plus the anti-immigrant sentiment, that we would lose these people who would go elsewhere to innovate. I am glad that Kerry has the insight to understand this and introduce this act.

Here is one example: Bill Nguyen, founder of La La Music Media, which was just acquired by Apple (who was terrified that Google would snap it up).

http://talk.onevietnam.org/new-vietnamese-american-star-bill-nguyen-of-lala-media/

The man that stands behind this vision at Lala Media is co-founder and chairman, Bill Nguyen. Bill is described as a serial entrepreneur. He is also described as charismatic, energetic, and one of the reasons Apple decided to acquire Lala, the New York Times postulated.

Although the tech savvy Vietnamese American population is no strangers to Silicon Valley (like our very own Paul Pham and Hai Le), Bill Nguyen may be one of the brightest stars in our community. Not only is Bill a great engineer, he is also a charismatic and visionary entrepreneur. As Bill moves forward with his relationship with Apple, I certainly am excited to see what Bill will come up with next!

Here is another article describing the bill in detail:

http://techcrunch.com/2010/02/24/startup-visa-jobs-green-card/

[ProSense]

1. This is already being

attacked in GD.

[karynnj]

3. Lots of kneejerk reaction - just as this op predicted - lumping these

immigrants with illegal immigrants. In addition, they are linking it to the programs that gave skilled workers positions where there was no American who could fill them. That and some residual anti-Kerry sentiment among a certain now discredited 2008 candidate's people seemed the balk of it. The amazing thing is how it is clear that many just read the op's biased comments rather than Kerry's press release.

[beachmom]

4. Yup. That's why I only posted it here. :)

And really, this is not even a debate about H1B visas. This is something entirely different involving new businesses and creating jobs. Not displacing an American worker.

[wisteria]

2. I think this is a wonderful idea to reach out and bring here to the US the best minds

and entrepreneurs. America is a nation founded by immigrants. We have always welcomed with open arms people from other countries.I see this as a positive thing and a way to open America up to new ideas.

[karynnj]

5. Here's a well written BG op-ed supporting it

I guess they remembered that they DID have two Senators after all!

If you think we could use a few more jobs in the U.S. right about now, you should know about the Startup Visa, an idea that has been gaining momentum in the blogosphere since last spring. Last month, Senators John Kerry and Richard Lugar introduced a bill that would create a new class of visa for foreign-born entrepreneurs who start companies (and attract funding for them) here.
<snip>
A number of local venture capitalists signed on to support the idea, representing firms like Spark Capital, .406 Ventures, and Flybridge Capital Partners. And earlier this month, the board of the Massachusetts Technology Leadership Council voted to support the legislation introduced by Senators Kerry and Lugar, which would issue at most 10,000 visas a year (and probably many fewer than that.) Entrepreneurs who hope to obtain one of the new visas must raise $250,000 in funding from an investor in the U.S., and they become a permanent legal resident after two years if their company has either raised an additional $1 million, hit $1 million in revenue, or created at least five full-time jobs in the U.S.
<snip - Tom Hopcroft, Massachusetts Technology Leadership Council President is quoted as saying:>

First, throughout our history we've relied on foreign-born entrepreneurs to help spur economic growth. Nationwide, about a quarter of our technology companies have been founded by immigrants. Here in Massachusetts, some of our most notable tech giants were created by brilliant, visionary immigrants like An Wang of Wang Laboratories, Desh Deshpande of Sycamore Networks, and Ash Dahod, who recently sold Starent Networks to Cisco for nearly three billion dollars.

< snip - he continues>
With some 445K students currently enrolled at Massachusetts colleges and universities, we naturally have one of the nation's largest pools of foreign-born students, a disproportionate talent asset that, in turn, can create tremendous innovation and wealth in our Commonwealth. We need to retain every one of those students who is willing to strike out on his or her own to start a company and create new jobs and wealth in our Commonwealth.

http://www.boston.com/business/technology/innoeco/2010/03/in_support_of_the_startup_visa.html

[Luftmensch067]

6. Link doesn't work? n/t

[karynnj]

7. Sorry - fixed it and added excerpt, because it was lazy not to have done so before nt

[Luftmensch067]

8. Very nice!!!

Thanks so much for posting!