Frustrated by Congress, Obama creates startup visa-like program

Entrepreneurs will receive “parole,” not a visa, to live in the U.S.

There have been efforts in Congress to approve what's called a "startup visa," which would be given to entrepreneurs who commit to certain levels of investment and job growth. But as with other immigration bills, it's gotten nowhere.

In the absence of congressional action, President Barack Obama's administration Friday said it will create a startup visa-like program, and said it can do so without congressional approval.

Entrepreneurs who can deliver a startup plan backed by significant investment can be "paroled" -- an immigration term -- to live and work in the United States, said White House officials.

The U.S. believes as many as 3,000 people may take advantage of this program, called the International Entrepreneur Rule.

"While there is no substitute for legislation, the administration is taking administrative action, where possible and consistent with current law, to fix our broken immigration system," said Tom Kalil, deputy director for technology and innovation at the White House Office of Science and Technology Policy, in a press briefing today describing the proposal.

The Department of Homeland Security has authority to extend immigration parole -- a way to remain in the U.S. without a work visa or permanent residency -- on a case-by-case basis for either humanitarian reasons or for "significant public benefit."

The White House argues that foreign entrepreneurs offer significant public benefit, if they meet certain investment and job creation goals.

This parole status will be available for up to five years and can be revoked at any time by the DHS secretary. After that period, officials said the person would be able to move from parole status to permanent residency or to some other type of visa.

To get parole status, the entrepreneur will have to demonstrate "significant investment of capital" -- at least $345,000 from "certain qualified" U.S. investors with a track record of successful investments, or $100,000 from certain federal, state or local government entities.

The startup will also have to demonstrate compelling evidence of the startup entity's substantial potential for rapid growth and job creation.

The administration doesn't have a lot of time to act. Over the next few months it will publish the rules, open them up for a 45-day public comment period, and finalize the rule by the end of year, a timetable that brings it within weeks of Obama's last day in office.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Patrick Thibodeau

Computerworld (US)
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Armand Abogado

HP OfficeJet 250 Mobile Printer

Wireless printing from my iPhone was also a handy feature, the whole experience was quick and seamless with no setup requirements - accessed through the default iOS printing menu options.

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?