The Big Story: LIKE Act provides hope for startup visas
A new bill in Congress would create more opportunities for foreign-born innovators and strengthen our diverse startup ecosystem. This week, Congresswoman Zoe Lofgren (D-Calif.), chair of the House Subcommittee on Immigration and Citizenship, introduced the Let Immigrants Kickstart Employment (LIKE) Act, legislation that would enable foreign-born innovators who meet certain investment benchmarks to embark on their entrepreneurial endeavors in the U.S., while also providing them with a pathway to permanent residency. A startup visa is more critical than ever, as other countries continue to attract founders through visas and investment in entrepreneurial infrastructure.
The introduction of the LIKE Act brings some hope for immigrant innovators as policymakers grapple with how to protect America’s Dreamer population. As we’ve previously stated, immigrants play a key role in the American innovation ecosystem—they are business owners and job creators who support the growth of our economy. Immigrants found new businesses at higher rates than native-born Americans, and over 50 percent of unicorn startups have at least one immigrant founder. Dreamers fuel this innovation and are overwhelmingly entrepreneurial with some 86,000 jobs stemming from businesses started by DACA recipients. The LIKE Act would further this economic and job growth by intentionally creating a new category of startup visas so that foreign-born entrepreneurs can bring their innovative businesses to the U.S.
In order for the United States to remain a global leader in innovation, policymakers must embrace diverse and entrepreneurial talent from around the globe. Creating a pathway for the immigrants that have made, or are set to make, significant contributions to the country is critical for the continued growth of the U.S. startup ecosystem.
Policy Roundup:
Senate votes to advance infrastructure bill. The Senate this week advanced the bipartisan infrastructure bill that would provide, among other things, $65 billion for broadband, setting the bill up for a final Senate vote as soon as next week. If signed into law, funds would go towards ensuring broadband is more available and affordable for low income, underserved, and underrepresented groups. Faster, more accessible, and more ubiquitous broadband across the country will help create opportunities for startups and work to close the digital divide.
Join Engine in asking Congress to provide Dreamers with permanent legal status. After a recent federal court decision found the Deferred Action for Childhood Arrivals (DACA) program unlawful, it is up to Congress to find a legislative solution for the thousands of Dreamers without protections. Dreamers are entrepreneurs and job creators, who contribute to the vibrancy of America’s innovation ecosystem. Startups are encouraged to sign our letter urging Congress to pass a permanent solution for Dreamers that includes a pathway to citizenship.
FTC oversight hearing hints at future challenges for startups. Policymakers touched on a wide range of issues that could impact startups during a House Energy and Commerce subcommittee hearing this week on FTC oversight, including Section 230, privacy, and acquisitions. During the hearing, members of the FTC and subcommittee pointed to Section 230 when discussing the spread of misinformation online. As we’ve long argued, Section 230 provides the necessary legal certainty for user-generated content platforms of all sizes to launch and grow, and content moderation at scale is inherently difficult, especially for startups. Lawmakers and FTC officials also discussed their skepticism around mergers, but as we have regularly noted, acquisitions are a critical part of the startup ecosystem, especially outside of places like Silicon Valley. Committee members also discussed the FTC using its narrow rulemaking authority to write privacy rules in lieu of congressional action on a federal privacy framework. As we’ve explained in the past, Congress should pass a federal privacy law that creates strong protections for consumers and consistency for startups.
Mixed messages from Republicans on content moderation. House Republicans released a myriad of policy proposals aimed at reining in “Big Tech,” many of which would further complicate the already expensive, time-consuming, and inherently difficult field of content moderation. The more than 20 bills around Section 230 and content moderation create varying—and seemingly contradicting—requirements for companies that host user-generated speech.
House Science Committee votes on legislation supporting regional innovation hubs. This week, the House Committee on Science, Space, and Technology, advanced several pieces of legislation including a bill to reauthorize the National Institute of Standards and Technology and another to authorize and support the regional innovation hub creation around the country. Legislation funding regional innovation hubs was also included in the Senate-passed U.S. Innovation and Competition Act, which boosts federal research and development dollars.
Startup Roundup:
#StartupsEverywhere: Pittsburgh, Pennsylvania. Rubitection is making skin health evaluation better, easier, and more reliable to prevent chronic conditions and improve quality of life through innovative, inclusive technology. We recently spoke to Rubitection’s Founder and CEO, Dr. Sanna Gaspard, about the importance of diversity in medtech, the need for more innovation and investment for technology to support an aging population, and what the government can do to advance these goals.
