Help USCIS create a legal immigration status for entrepreneurs and startup-founders! You can be a part of the process of creating this important new mechanism for immigrants to contribute to the US and stay here legally.
On November 20, 2014, President Obama announced several executive actions on immigration reform. USCIS is currently seeking public comments on a proposed new program to give entrepreneurs and investors a way to stay in the US with parole if they would create a “significant public benefit” under section 212(d)(5) of the Immigration and Nationality Act.
If you are a startup founder or entrepreneur, this new program would allow you to apply for parole to stay in the U.S. if you:
- “have been awarded substantial U.S. investor financing”;
- “hold the promise of innovation and job creation through the development of new technologies or the pursuit of cutting-edge research.”
With this parole, you could “temporarily pursue research and development of promising new ideas and businesses in the United States.”
To create this new program, USCIS wants your feedback! This US immigration agency is seeking data, fact-based evidence, and any other written information about a legal status for startup founders and entrepreneurs. Particularly useful would be:
Qualifying US Investors
- How would you identify a qualifying U.S. investor?
- How would you identify a legitimate and credible investor, incubator or accelerator?
- How would you monitor fraud or abuse?
- What third-party organizations validate investors, incubators and accelerators?
- Are there any other ways to validate investors, incubators and accelerators?
Substantial US Investor Financing
- What amount of U.S. investor financing in startup is substantial?
- What are the typical types of investments, like equity and convertible debt?
- What is the average/median investment amount in Series A, B and C?
- Is there a correlation between the amount of investment and “whether the startup entity generates significant revenue and experiences significant job creation”?
- How much equity does an entrepreneur typically have after each series of funding?
- How likely is it for an investor to realize a return on investment? How long does it take to exit with a return?
- How typical is it for a startup to earn at least $1 million in annual revenue? How long does it usually take to get there?
- How do the answers vary by industry?
Innovation and Job Creation
- What are the typical growth trends for startups, such as how many jobs they create, how much investment they receive, and how much revenue they generate?
- Are you aware of entrepreneurs who don’t have other immigration options who would be interested in this program?
- If a startup is growing rapidly, how many jobs would it typically create, how much investment would it receive, and how much revenue would it create in years 3, 4 and 5?
- How do your answers vary by industry and geography?
Feel free to share your comments below, and make sure to forward them to USCIS by email Public dot Engagement [at] uscis dot dhs dot gov by Friday, July 10, 2015. Keep an eye on this blog for updates to the Parole in Place program for alien entrepreneurs and startup founders.