Skilled immigrants looking to create startup firms in the US have found support with a venture capitalist investor group that is trying to make it easier to do this. Unlike in France, Singapore, the United Kingdom, and Canada, there is no startup US visa, making such help vital to immigrant entrepreneurs.
A rule set up by the Obama administration, which would have enabled international founders to remain in the US for five years was delayed in July by the Trump administration, with indications that they intend to rescind it completely. Several VC firms have decided to fill that gap by explicitly investing in firms created by immigrants. The firms, including the likes of One VC, Unshackled Ventures, and One Way Ventures, were not created in response to the actions of the Trump administration, but their focus on helping immigrants is not especially timely.
VC has been offering immigration counsel to companies, according to the vice president of government affairs at Washington DC based trade group the National Venture Capital Association. Unshackled Ventures has assisted company founders from as many as 16 different countries to gain seven different kinds of US visas, while One Way Ventures will begin investing in businesses in October.
There are many reasons why firms specialize in immigrant startup investing. The VCs are themselves immigrants, and understand the unpredictable and tedious nature of the US visa process, while others believe immigrants make better entrepreneurs, and that it gives them a greater sense of purpose.