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National Venture Capital Association scores big win for foreign-born entrepreneurs with lawsuit victory.
I reported about this matter on a post few month ago.
‘This was a fight worth having’: NVCA goes to court for immigrant startup founders.
In September, the National Venture Capital Association sued the US government over its opposition to a key immigration program.
Created during the Obama administration, the International Entrepreneur Rule gives the Department of Homeland Security the ability to allow foreign-born entrepreneurs to remain in the US for up to five years if they’ve created a company that has the potential for rapid growth and job creation, among other requirements.
The program was set to take effect on July 17, but on July 10, the Trump administration postponed it until March 14, 2018, with the reported intent of scrapping it altogether. The DHS said at the time it objected to the rule partly because the management of a foreign-entrepreneur program would consume resources needed for existing initiatives.
The International Entrepreneur Rule is set to go into effect, as a US district judge has overturned the Department of Homeland Security’s delay of the Obama-era policy. The decision is a win for the National Venture Capital Association, which filed a lawsuit challenging the delay in September. The rule permits foreign-born entrepreneurs to remain in the US for up to five years if they’ve created a company that has potential for rapid growth and job creation, among other requirements. With the ruling, the DHS is required to begin accepting applications from foreign founders who wish to come to or stay in the US.
US federal court opens doors to ‘startup visas’
via Times Of India Business