Looks like the Trump administration doesn’t want to let anything come in between his efforts to constrict immigration flows to the country.
Having blocked the H1B visas that allowed US companies to temporarily employ foreign nationals, it is now targeting startup visas, which once implemented would allow foreign entrepreneurs who launch startups in the U.S. to live in the country.
The rule is known as the International Entrepreneur Rule and several bigwigs in the technology industry are in favour of this, as it would allow non-U.S. citizens, who are owners of companies that won $100,000 in government grants or received $250,000 in venture capital investment to live in the U.S. for a renewable 30-month term.
The rule was finalized when Obama was still in power, and was set to take effect from July 17. However, the Trump administration has announced that it would delay the program until next March, adding that the Department of Homeland Security needs to have an additional review of the program.
Steve Case, founder of America Online and now chief executive officer of the Revolution LLC investment fund took to twitter to call the possible cancellation of the program a big mistake.
"Immigrant entrepreneurs are job makers, not job takers," he said.
Similarly, Bobby Franklin, president and CEO of National Venture Capital Association, an industry trade group said, "At a time when countries around the world are doing all they can to attract and retain talented individuals to come to their shores to build and grow innovative companies, the Trump Administration is signaling its intent to do the exact opposite."
