On 25 May 2018 DHS US Citizenship and Immigration Services posted a notice titled DHS Proposal To Remove The International Entrepreneur Rule.
The notice says DHS proposes to end a program that allows certain foreign entrepreneurs to come to the US to develop and build start-up businesses here (the full rule is at: International Entrepreneur Rule). The initial rule basically says that the nation recognizes the significant public benefit of entrepreneurs coming to the US, and, when certain criteria are met, we want more of these great innovators and job creators here! This is all consistent with law (Section 212(d)(5) of the Immigration and Nationality Act (INA), 8 U.S.C. 1182(d)(5)), which allows these exemptions when there is significant public benefit.
Historically, it takes more than great ideas to create innovation and it takes more than innovation to create companies, jobs and wealth. It takes entrepreneurs willing to take risks and persist and never give up till they make it. People with this spark come from all over the world, and we should all consider it a great honor when a successful, capable, proven entrepreneur comes to the US to create. These great champions are helping the American economy and helping create jobs both now and in the future.
DHS does not provide much of a reason for their proposal to kill the program. They say “DHS is now proposing to eliminate the IE Final Rule because the department believes that it represents an overly broad interpretation of parole authority, lacks sufficient protections for U.S. workers and investors, and is not the appropriate vehicle for attracting and retaining international entrepreneurs.”
In my view, they do not provide any facts, evidence or even well thought out opinions to back up the assertion that this rule lacks sufficient protections for U.S. workers and investors. It seems to be a bigger threat to U.S. workers and investors if DHS kills the rule. Sure would like to see what facts they based this belief on.
Additionally, when they state this is not the appropriate vehicle for attracting and retaining international entrepreneurs they did not provide much insight into that conclusion, other than to cite that the Immigration and Nationality Act already provides for visa classifications for entrepreneurs to start businesses and work in the US. Maybe their point is that this works so very well that the new approach was not needed at all. They provide no insight into what facts or observations lead them to believe this. Maybe they are right, but maybe they are wrong! Why would they move to kill this if they don’t have the data to say which is which? And if they do have data, can we see it?
Speaking of facts, we already know that immigrant entrepreneurs account for the creation of over half of the startups in the US that have $1 billion valuations. And we know that immigrant entrepreneurs, on average, create 760 jobs per company. This is huge! And this is for those that struggled to come to the US under the current system. We need more of these great leaders faster!
We also know that there is a great global competitions for this type of startup talent, and we can’t just sit still and not improve the situation.
CTOvision is on the side of the American worker and we always want to be on the side of their bright future. And we are on the side of the creators of jobs, the investors in our future, and the fielders of life improving technology for us all. For those reasons, based on what we read from DHS, CTOvision is opposed to the new DHS proposal. But DHS we love you too and want to give you a chance to explain yourself. Please clarify for us all what justification you have for proposing this. We will listen we promise.
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