White House Rules in Favor of Immigrant Entrepreneurs

Today, we joined a call with the White House’s Tom Kalil and Doug Rand from the Office of Science and Technology Policy and Manar Waheed, Deputy Policy Director of Immigration and read the USCIS announcements on proposed rules for International Entrepreneur Parole (links below). We couldn’t be more proud and excited about this announcement as it fits in the spirit of inclusive entrepreneurship.

Once implemented, this ruling is estimated to support an additional 2,940 entrepreneurs annually and will add a new option for us to continue investing in and supporting immigrant founded startups. This will be in addition to the six different visa types we have already deployed for our portfolio founders.

This will be in addition to the six different visa types we have already deployed for our portfolio founders.

For nearly 12 years, our very own Founding Partner, Nitin Pachisia, an entrepreneurial immigrant on a work visa, has been waiting for this first step to be taken. While many details are still to be determined and open to public comment for the next 45 days, the Obama Administration’s announcement reflects what we fundamentally care about — retaining and attracting the best immigrant talent our country educates and employs. The rule could be a catalyst in achieving our goal of creating 100,000 American jobs by Unshackled Ventures funded companies.

As our relationship with D.C. has grown, we’ve become increasingly confident that there is a great opportunity for the public and private sector to work together to drive change. In our recent Op-Ed with Congressman Joaquin Castro (TX-20) on Startup Day Across America, we highlighted the economic value of supporting immigrant talent across our nation and how we must do more. We’ve also shared our values and objectives at the White House and State Department sponsored Global Entrepreneurship Summit and a subsequent trip to Capitol Hill. It’s clear this is not a zero-sum game and today’s announcement is the result of years of hard work by many people. We should build on it.

It’s clear this is not a zero-sum game and today’s announcement is the result of years of hard work by many people. We should build on it.

In little over seven quarters, Unshackled Ventures has created 50 new jobs for our country as startup teams emerge out of concept stage and into revenue generating businesses. In fact, we’ve even seen many immigrant founded startups strive to make our country stronger, with three of our startups working with our state and/or federal government on technology advancements. Imagine what can happen when we support and encourage more immigrant founders.

Imagine what can happen when we support and encourage more immigrant founders.

At Unshackled Ventures, we will continue our work toward keeping the American dream alive. By bringing together a community at the earliest stages and fostering a culture of access, choice and opportunity, we believe the greatest inventions of the future are still to be seen. We look forward to participating in the public comment period and will do what we can to make sure your voice is heard and this important ruling comes to fruition. We encourage all entrepreneurs, investors, corporations or anyone who cares about immigrant founded startups to join us and send us a note with your comments and thoughts to policy@unshackledvc.com.

In an environment of strong and divisive language, we applaud President Obama and his administration for this action. It’s meaningful and sets our country up for more innovation and economic development as we support the world’s best.

This is what makes America great.

Additional Resources:

https://www.uscis.gov/news/news-releases/uscis-proposes-rule-to-welcome-international-entrepreneurs

Nitin Pachisia and Manan Mehta