NVCA is pleased to report that a new bi-partisan bill has been introduced in the Senate that is aimed at bringing and keeping the best and brightest entrepreneurs from around the world here in the United States. Introduced by Senators John Kerry (D-MA), Richard Lugar (R-IN) and Mark Udall (D-CO), the StartUp Visa Act of 2011 will permit entrepreneurs to come to the U.S. or to remain here after completing university studies if they meet certain criteria, including receiving investment in their businesses from a qualified U.S. investor. This would include venture capital dollars.
Several NVCA members helped craft this legislation and we will work to gain co-sponsors for the bill in the Senate. Two supporting pieces of legislation are expected to be introduced in the House in the coming weeks. The first is a companion bill to the Kerry-Lugar legislation which is scheduled to be introduced by Representative Carolyn Maloney (R-NY); the second is a separate bill expected by Representatives Zoe Lofgren (D-CA) and Jared Polis (D-CO). NVCA has been working with Lofgren and Polis on their bill and we will see if these two bills can be merged together to best serve the interests of the start-up and entrepreneurial communities. In the coming weeks and months, if the Administration and Congressional leadership attempt to move immigration legislation we will reach out to the NVCA membership to help drive support for these initiatives.
Additional information about the Senate StartUp Visa bill is available here.
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