Tuesday, May 29, 2018

NVCA: Elimination of International Entrepreneur Rule A Major Mistake

The National Venture Capital Association (NVCA) said Friday that the recission of the International Entrepreneur Rule (also billed as the "Startup Visa") -- which was aimed at encouraging foreign-born entrepreneurs to launch high-growth startups in the U.S.--is a "major mistake for U.S. job creation and innovation". The rule, which the NVCA says would allow for talented immigrant entrepreneurs to remain in the U.S. to build and scale their startups, is being targeted by the current U.S. Presidential administration. The Department of Homeland Security's recission statement said the rule "does not adequately protect U.S. investors and U.S. workers." The NVCA filed a lawsuit last year against the Department of Homeland Security over an earlier delay in implementing the rule.