The Hill reports that more than 100 venture capital investors, company founders, startup accelerators and other individuals and organizations have signed on to a letter calling on the Trump Administration to retain the entrepreneur parole rule. The letter was organized by the National Venture Capital Association and signatories were from all of the country (but, notably, not Silicon Valley firms).
From The Hill:
“Immigrant entrepreneurs are a critical driver of increased economic activity, as they play an outsized role in new company creation in communities all across our country,” the groups argued in their letter.
“Despite these contributions, the United States has pushed away many promising would-be immigrant entrepreneurs because we lack a dedicated ‘startup visa’ that would help attract more of the world’s top entrepreneurs to create jobs in our communities.”
Ben Veghte, a spokesperson for the NVCA, highlighted that the letter was signed exclusively by entrepreneurial interests in emerging areas and not by anyone from traditional venture capital hubs like Silicon Valley, New York and Boston.
The groups wrote that while the rule was not a substitute for legislation, they saw it as an important step in bringing entrepreneurial talent to the U.S., which has been waning in recent years.
Bloomberg BNA also reported on the uncertain future of the rule.