INSUBCONTINENT EXCLUSIVE:
Bobby FranklinContributorMore posts by this contributorThe Trump administration just moved to kill a key tool to support immigrant
entrepreneurs, and the startup community must make our voice heard to save it.Supported by Republicans and Democrats, the International
Entrepreneur Rule (IER) operates like a startup visa and allows foreign-born founders to launch new businesses in the United States , rather
IER is in place after the National Venture Capital Association (which I lead) successfully sued the Department of Homeland Security when it
unlawfully delayed the program last year
But now, the administration is taking new steps to end the rule before it has a chance to bring new companies and innovation to our
importance of immigrant entrepreneurship keep asking
startups valued at $1 billion or more, and 43 percent of Fortune 500 companies were founded or co-founded by an immigrant or the child of an
low end because a single entrepreneur could create a startup with tremendous growth or even an entirely new industry
IER is tailored to attract founders who are positioned to launch the next generation of great American companies and would unleash fresh
After all, we are talking about a program where a successful applicant must create a new high-growth enterprise that will in turn employ
is completely tied to the startup company and would be unable to remain in our country if the enterprise fails
There is nothing more merit-based than that, and yet the administration is saying no to the new jobs that come when young companies scale
Twenty years ago, United States startups received 90 percent of global venture capital, but that number has precipitously dropped to 54
percent last year.Policymakers must understand that United States startup dominance is being challenged every day, and the top
entrepreneurs now have a world of choices when it comes to where to launch their high-growth company
Other countries are copying the American blueprint for startup activity and making their countries more attractive for new company
American leadership on critical technologies like artificial intelligence, robotics, machine-learning and new drug discovery.If we are to
Rather than pushing entrepreneurs away, the administration should be fighting to attract top talent
Department of Homeland Security is moving forward to rescind the program before it truly gets off the ground
This is a setback to be sure, but so was the first DHS delay, and we beat the administration that go around
help maintain United States competitiveness or how IER will create American jobs
Together, we can win, and by doing so help our country remain the best place on the planet to launch a new company that provides a better
