Contact:

Ben Veghte
NVCA
202.864.5923
bveghte@nvca.org


FOR IMMEDIATE RELEASE:

WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today after the Obama Administration announced a proposed rule by the Department of Homeland Security (DHS) to allow foreign-born entrepreneurs who meet certain criteria to remain in the U.S. to grow their businesses.  The proposed International Entrepreneur Rule is part of President Obama’s executive order on immigration first announced in November 2014.

“Today’s announcement is welcome news for the entrepreneurial ecosystem and we applaud the Obama Administration for keeping its foot on the gas of this important issue.  Immigration reform has long been a focus of NVCA and we are glad to see our priorities on the issue woven into this proposal,” said Bobby Franklin, President and CEO of NVCA.  “Absent congressional action to finally pass comprehensive immigration reform, NVCA and the venture community will continue to support all measures that make it easier for foreign-born entrepreneurs to come to the U.S. to start and grow successful businesses.  We look forward to digging in and reviewing all the details of the proposed rule and working with the administration in the coming weeks to iron out the finished product so that the rule best meets the stated goal of attracting the best and brightest entrepreneurs from around the world.”


About National Venture Capital Association

Venture capitalists are committed to funding America’s most innovative entrepreneurs, working closely with them to transform breakthrough ideas into emerging growth companies that drive U.S. job creation and economic growth. As the voice of the U.S. venture capital community, the National Venture Capital Association (NVCA) empowers its members and the entrepreneurs they fund by advocating for policies that encourage innovation and reward long-term investment. As the venture community’s preeminent trade association, the NVCA serves as the definitive resource for venture capital data and unites its member firms through a full range of professional services. For more information about the NVCA, please visit www.nvca.org.