Following the previous study on immigrants and its relation to entrepreneurship, Kauffman Foundation recently issued an Entrepreneurship Policy Digest that highlights strategies for how a “startup visa” would allow immigrants to start businesses here after satisfying certain funding, employment and other requirements.
The Policy digest states that currently there are several startup visa legislative proposals in the U.S. Senate and House of Representatives, and it features a Kauffman Foundation analysis of possible economic contributions of one such proposal and goes on to offer the following research-based strategies to maximize the benefits of any startup visa:
Broaden Eligibility Thresholds
- Fewer than 1 percent of new businesses receive venture capital investment at the outset.
- While not all businesses receive outside investment capital, viable businesses will generate revenue. Recognizing that it can take time to develop, market and sell a product or service, revenue-generation over time could be a measure of potential entrepreneurial success.
- Since a startup visa is meant to boost economic growth and create jobs, initial job creation could be a measure used to determine visa eligibility, so long as the requirement is not overly restrictive
To read the full policy digest, please visit here.