Senators John Kerry (D-Mass.) and Rich Lugar (R-Ind.) have proposed a new type of visa for foreign entrepreneurs that have received capital and are looking to start a company in America.
The new visa can be awarded to anyone who has raised at least $250,000 ($100,000 of which must come from a U.S. investor) and is able to create five jobs and $1,000,000 in revenue in two years. The bill has received support from the National Venture Capital Association and 160 VCs offered support in a letter to congress, including three partners of First Round Capital.
As reported by Technically Philly, Mayor Nutter is undergoing comparable efforts to attract technology companies and startups using the city’s tax structure as an incentive. What if the city promised additional bonuses to recipients of the Startup Visa? Especially those who’d like to start a video game studio?
Before you go...
To keep our site paywall-free, we’re launching a campaign to raise $25,000 by the end of the year. We believe information about entrepreneurs and tech should be accessible to everyone and your support helps make that happen, because journalism costs money.
Can we count on you? Your contribution to the Technical.ly Journalism Fund is tax-deductible.
Join our growing Slack community
Join 5,000 tech professionals and entrepreneurs in our community Slack today!
Congress votes to reauthorize the EDA, marking a historic bipartisan effort to invest in innovation and job creation
Looking for a job? This strategy turns NotebookLM into your personal hiring coach
How Comcast selects startups for its competitive LIFT Labs accelerators
