The United States is the best country in the world for entrepreneurs. Yet it is also a country that goes out of its way to prevent many of the most promising would-be entrepreneurs from realizing their potential.
Each year, the United States grants H-1B visas to 85,000 highly skilled foreign workers, nearly 70 percent of whom come to this country to work in the technology industry. In my experience, these people are some of the most entrepreneurial people in Silicon Valley. For what? H-1B visas are granted only to those with specialized skills, often obtained through advanced technical training at top universities; virtually all H-1B holders have at least a baccalaureate, and the majority went beyond. It takes extraordinary courage – and ambition – to leave your own country in search of better opportunities. Plus, maneuvering through the U.S. immigration system is hell, and it takes a certain amount of entrepreneurial courage to get through it.
And yet, under the current system, H-1B holders cannot effectively start a business: their immigration status depends on their employment with a sponsoring company. To maintain its lead in innovation, the United States must reform the immigration system to allow H-1B workers to start their own businesses.
