The new proposal called “Startup Visa Act of 2011” is a whole lot better than the current one and looks quite promising for aspiring entrepreneurs.
You can read the full text of the bill here.
Here is something that is most relevant to those who are already in US either working on H1B or just completed their studies:
Immigrant entrepreneurs currently living and working inside the U.S. on an unexpired H-1B visa; OR immigrant entrepreneurs currently in the U.S. who have completed a graduate level degree in science, technology, engineering, math, computer science, or other relevant academic discipline from an accredited United States college, university, or other institution of higher education would be eligible for a StartUp Visa if…
- They demonstrate annual income of not less than roughly $30,000 or the possession of assets of not less than roughly $60,000; and
- Have proven that a qualified U.S. investor agrees to financially back their entrepreneurial venture with a minimum investment of $20,000.
After two years, their business must have created 3 new jobs and raised not less than $100,000 in additional capital investment or generate not less than $100,000 in revenue.
Source : Startup Visa
Follow the discussion and voice your support at Startup Visa if you like the proposal.