NVTC Backs Startup Act 3.0 Bill

The Northern Virginia Technology Council (NVTC) has put its support behind Startup Act 3.0, a renewed bipartisan jobs and high-skilled immigration bill to bolster entrepreneurship and innovation among foreign talent. U.S. Sen. Mark Warner (D-Va.), along with Sens. Jerry Moran (R-Kan.), Chris Coons (D-Del.) and Roy Blunt (R-Mo.), submitted the updated version of their bill as a way to reward immigrant entrepreneurs who are committed to jumpstarting the economy through the creation and growth of new businesses.The legislation will allow immigrants currently holding an H-1B or F-1 visa the ability to apply for an opportunity to stay in the U.S. for up to three years to start businesses that would employ at least five full-time workers who are not family members. Applicants must have already raised at least $100,000 in funding and currently employ at least two people.The bill also has a provision that would create a new five-year visa for foreign students studying and working in STEM fields. After five years, students have the potential to become a legal resident and a later a citizen.“By proposing this bold piece of legislation, Senator Warner and his colleagues are advancing the cause of job creation, innovation and entrepreneurship,” said NVTC President and CEO Bobbie Kilberg. “Startup Act 3.0 will drive job growth and innovation by helping startup companies recruit and retain global talent, encourage more research and development (R&D), promote investment in startups, and generate new intellectual property and new technology.” .google {left:100%;display:inline-block;position:fixed}

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