Contact:

Ben Veghte
NVCA
202.864.5923
bveghte@nvca.org


FOR IMMEDIATE RELEASE:

WASHINGTON, DC – The National Venture Capital Association (NVCA) today applauded Senator Jeff Flake (R-AZ) for introducing legislation to create a startup visa so that foreign-born entrepreneurs can bring their innovative ideas to the U.S. to build high-growth startups that create American jobs. Under the Attracting and Retaining Entrepreneurs Act, an immigrant entrepreneur would earn a “nonimmigrant invest visa” or “invest immigrant visa” if he or she has a significant ownership interest in a startup that receives requisite investment from an investor and meets other requirements, such as job creation.

“Knowing of the significant contributions immigrant founders bring to the startup ecosystem and the broader U.S. economy, NVCA has long advocated for the creation of a startup visa for foreign-born entrepreneurs to build their companies in the U.S.,” said Bobby Franklin, President and CEO of NVCA. “For too long, U.S. immigration policy has created more roadblocks than opportunities, and with the U.S. continuing to lose market share of global venture capital investment, now more than ever we need to do all we can to attract and retain the best and the brightest from around the world. Senator Flake has introduced a very thoughtful piece of legislation that will go a long way in meeting that goal. We applaud him for showing leadership on this important issue and will do all we can to assist in his efforts to create a startup visa.”

View NVCA’s letter of support HERE.


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.