As a part of the recent immigration reforms, US President Obama called on Congress to create a special visa category for foreign-born entrepreneurs. This category shall allow such entrepreneurs who launch successful startups to remain in the country.
This “startup visa” shall allow immigrants who found startups to live in the United States as long as they raise a minimum level of financing and employ a certain number of workers. They could “remain permanently” in the country if their startups continue to grow, he said.
First reported on the Huffington Post, this comes a great welcome news to the huge number of startups that wish to make the Silicon Valley their home, or for that matter, cater to the US demography, and take the advantages of the “startupy” atmosphere in the country.
During an interview with YourStory, Vivek Wadhwa, author, The Immigrant Exodus, and executive in residence at the Pratt School of Engineering, Duke University had mentioned about the ties forged by the entrepreneurs from countries like China and India with their counterparts in the States. This immigration reform should improve the scenario and bring in a more integrated efforts in terms of eliminating the need of startups returning to their home turf post a stint in the US.
Given the unique demography of our audience, should India also bring such reforms? Tell us in the comments.