Even as the rules for getting an H-1B visa have been made more tough, three powerful American Senators on Monday introduced a legislation in the Congress which if passed would instantly provide a two-year US visa to any entrepreneur that can obtain an investor to fund his idea.
The StartUp Visa Act of 2011 will allow an immigrant entrepreneur to receive a two-year visa if he or she can show that a qualified US investor is willing to invest in the immigrant''s startup venture.
The Act was introduced in the Senate by Senators John Kerry, Richard Lugar and Mark Udall.
Congresswoman Carolyn Maloney plans to introduce companion legislation in the US House of Representatives.
"Every job-creating American business started as an idea in the mind of an entrepreneur. We need to keep and bring more of those ideas to our shores where they can put Americans to work. Global competition for talent and investment grows more intense daily and the United States must step up or be left behind," said Kerry.
"We want to establish a way for the smartest and most entrepreneurial individuals in the world to come to the United States and create jobs. Many are already here studying at our great universities," said Lugar.
Senator Udall said the broken immigration system prevents talented entrepreneurs from all over the world from developing ideas that keep America competitive in a global economy.
"This legislation will promote our competitiveness around the globe and create a new generation of prosperity here at home by helping highly-skilled talent -- wherever in the world it comes from -- to create companies and jobs in the US," Maloney said.
The StartUp Visa Act of 2011 would amend immigration law to give immigrant entrepreneurs three new options for entry or retention of residency. .
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