http://dealbook.nytimes.com/2011/03/17/silicon-valley-backs-effort-to-help-foreign-entrepreneurs/there's also a great photo at the link.. also posted as a "reply", below
]A New Zealand entrepreneur seemed to have everything lined up for the start of his social networking venture in the United States. He had raised $430,000, hired 14 employees and leased an office just a few miles away from the famed Sand Hill Road in Silicon Valley.
He had everything — except a visa. With his application still pending in December, he had to leave the country. Since then, many of his employees have quit, and his money has been depleted.
“The continual waiting is frustrating,” said the entrepreneur, who spoke on the condition of anonymity because his visa application was being reviewed. “I don’t know when I’m going to get approved — it could be in two or three months, or more.”
A group of lawmakers and prominent technology investors are trying to ease bureaucratic hurdles for thousands of foreign-born entrepreneurs as part of a broader effort to create jobs in the United States and spur innovation.
A new bill — introduced on Monday by Senators John Kerry, a Massachusetts Democrat; Richard Lugar, an Indiana Republican; and Mark Udall, a Colorado Democrat — aims to give two-year visas to foreign entrepreneurs if they secure at least $100,000 in financing from qualified investors. After two years, the start-up must have at least five employees and $500,000.
“In this budget climate, we are all looking for fiscally responsible ways to create jobs,” Senator Kerry said. “The Start-Up Visa Act meets that need.”[/div
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