This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Work Visas in U.S. Elude Entrepreneurs

Stocks in this article: GOOG EBAY INTC

"The EB-5 is the opposite of what we want; it's a visa for a foreign investor," Feld says. "We want a foreign entrepreneur to get a visa." The U.K. launched an entrepreneurship visa category last year. Canada has a similar program for entrepreneurs who can show access to at least C$300,000 in capital.

Feld says immigration reform is hardly the federal government's top concern right now but notes that the visas-for-startups movement is getting Congressional attention. U.S. Rep. Jared Polis (D-Colo.) has been a strong proponent of a startup visa, making sure the category was included in the Comprehensive Immigration Reform for America's Security and Prosperity Act of 2009 (CIR ASAP), which was introduced last month. The team is working on Senate sponsorship as well.

Immigrants founded 7,000 technology companies between 1995 and 2006, according to The Kauffman Foundation. During that time, about 25% of tech companies in the U.S. had founders from other countries. In California's Silicon Valley, half of new tech companies were launched by immigrants. Companies started by immigrants accounted for 10% of new jobs during that period, according to Kauffman. Immigrants represent 16.7% of all new business owners in the U.S. and are nearly 30% more likely to start a business than are native-born citizens, according to the Small Business Administration.

"They immediately start hiring U.S.-based employees," Feld says. "This is a job-creation program for U.S. citizens."

-- Reported by Carmen Nobel in Boston.

2 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,085.56 +55.35 0.31%
S&P 500 2,090.84 +8.96 0.43%
NASDAQ 4,806.6340 +33.1620 0.69%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs