Excellent article from Businessweek, instead of encouraging the first brain drain in U.S. history, the country should create a program to welcome funded startup entrepreneurs.
Vivek Wadhwa argues that
It’s time to bring the immigration question squarely into the debate over jobs. A change to immigration policy could help create jobs and rev up economic growth. It’s a change that wouldn’t be hard to bring about. I’m talking about the establishment of a Startup Founders Visa program.
The program would make it easier for those with great ideas and the desire to start a company to live and work in the U.S. The idea is simple, yet powerful. By letting in company founders, the U.S. would bring in risk-takers who want to create jobs and potentially build the next Google (GOOG), Cisco Systems (CSCO), or Microsoft (MSFT). This is an excellent idea, as such founders will create jobs for Americans. Currently, only the E2 non immigrant visa and EB5 Immigrant visa allow self starters to create compnaies by investing funds. While the E2 and EB5 are good options, they are not addressing the need for a specific visa for brainy individuals that have great ideas, but are lacking funds. We still need them to fuel the next big discovery that will lead to that start up creation.
Read the BW article here…