The Startup Visa's Appeal to Women
So why are the efforts to bring more startup founders to the US focused mostly on that stereotypical understanding of who is likely to found a startup? The Startup Visa plan calls for a law that provides a visa geared specifically towards entrepreneurs that will last two years, dependent on the entrerpeneur bringing in investment capital. In order to stay in the country after that two-year period ends, the entrepreneur needs to have created a certain number of jobs. The plan is good in concept, but it doesn’t consider the needs of entrepreneurs who aren’t easily able to pick up and move as someone fresh out of college with no family — entrepreneurs, by the way, who are more likely to keep their company in the U.S. if was established there initially.
Using the EB-5 Visa as a Basis
Currently, proponents of the Startup Visa want to base the new visa on the existing EB-5 visa for investors. The EB-5 Visa is meant for investors who wish to come to the U.S. and invest in businesses. The Startup Visa would essentially be a sub-category, sharing the allocation of the allocation of visas set aside for EB-5 applicants. There are some problems with this approach, which in turn lead to the constraints that the Startup Visa would face.
One of the big concerns is the pool of EB-5 visas available, which would be split between applicants for that visa class and for Startup Visas. There are 10,000 visas allocated — and that number has to include any dependents that come with the entrepreneur applying for the visa. Dependents include spouses (who must be legally married, not common law partners) and children (who must be both under the age of 21 and unmarried). There may not be enough visas actually available to make this a viable program for anyone who needs more than a visa just for herself.
The Startup Visa would also only offer conditional green cards, for two years, to visa holders. That means that a spouse can have difficulty getting a job and a child who wants to enroll in college may have to try to refile separately for a student visa at some point.
What Would a Fair Startup Visa Look Like?
At the very least, a discussion of the Startup Visa needs to address some of the concerns that go along with visas in general: how to make the visa program a practical option for someone who needs to bring her family with her?
There also needs to be a commitment from the investors who are interested in providing the money that entrepreneurs need to qualify for the Startup Visa. It’s going to be hard enough for startup founders to build the international connections to land that funding, but unless investors actively move past preconceived notions about who is likely to be a startup founder, it’s going to be doubly hard for anyone who isn’t a young man with a brand new computer science degree. There needs to be a commitment to look at women within international startup communities.
Originally posted in Huffington Post
Ekaterina Walter is a co-founder and CMO at Branderati. She is a social media trailblazer and an author of the Wall Street Journal bestseller “Think Like Zuck: The Five Business Secrets of Facebook's Improbably Brilliant CEO Mark Zuckerberg”. A recognized business and marketing thought leader, she is a sought-after international speaker and a regular contributor to leading-edge print and ...
Other Posts by Ekaterina Walter
Social Media Today