Today, the U.S. Citizenship and Immigration Services (USCIS) proposed a new International Entrepreneur Rule that will allow qualifying foreign entrepreneurs to live in the U.S. for up to five years to build their startup.
Statement by Engine Executive Director Evan Engstrom
Re: DHS Proposed International Entrepreneur Rule
The startup community has been fighting for years for reforms that would allow the world’s brightest innovators to start and scale their companies here in the United States. Engine welcomes the Department of Homeland Security’s International Entrepreneur proposal, which will allow talented foreign-born entrepreneurs to build their companies in the U.S., in turn creating jobs and driving economic transformation. Today’s announcement is an important step towards making our immigration system work for the 21st century innovation economy.
We’ve seen firsthand the extraordinary contributions that immigrant entrepreneurs have made in the startup economy. Just look at some of the most successful startups in America: a sizeable portion of them have foreign-born founders. Immigrants are responsible for founding 25 percent of high-tech startups across the country and more than 40 percent of Fortune 500 companies. DHS’ proposed rule is estimated to support upwards of 3,000 additional international entrepreneurs who will build innovative companies across the country that will create jobs and spur growth.
These efforts by the Administration are absolutely critical, and we are grateful to the White House for their tireless work to ensure that America remains a leader in innovation. If you are interested in weighing in on the proposal or want to learn more, email Emma Peck at emma@engine.is. You can read the full proposal here.
Photo credit: Tom Lohdan
