Immigration Archives - National Venture Capital Association

Expedited Coverage for Medical Technologies Will Drive Healthcare Innovation

All Press Releases, Immigration, Public Policy October 15, 2021/by Sabrina Fang

FOR IMMEDIATE RELEASE
October 15, 2021

Contact: Sabrina Fang
Phone: 703-283-2091
Email: sfang@nvca.org

WASHINGTON, DC – The National Venture Capital Association strongly urges the Centers for Medicare and Medicaid Services (CMS) to expedite coverage for innovative medical technologies by prioritizing reforms to the reimbursement process. The existing reimbursement policy and the uncertainty that follows approval of new medical products has led to the decline in medical device investment over the years as a share of overall venture activity.

“Now is the time to encourage venture investors and startups to make bold advancements in life-changing treatments and cures,” said NVCA President and CEO Bobby Franklin. “The proposed rule to repeal the MCIT pathway is disappointing. We need CMS to prioritize establishing a revised framework for innovative medical technologies.

“An expedited coverage pathway has the potential to bring major improvements to the U.S. healthcare system, including encouraging greater long-term investment and providing immediate benefits for the Medicare population through transformative new products.”

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About National Venture Capital Association

The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit www.nvca.org.

Startup Visas Would Ignite U.S. Economy & Job Creation

All Press Releases, Immigration, Public Policy July 26, 2021/by Devin Miller

FOR IMMEDIATE RELEASE
July 26, 2021

Contact: Sabrina Fang
Phone: 703-283-2091
Email: sfang@nvca.org

WASHINGTON, DC – After years of advocating for a Startup Visa, the National Venture Capital Association was thrilled to see the introduction of the Let Immigrants Kickstart Employment (LIKE) Act by Congresswoman Zoe Lofgren (D-CA). The legislation would establish a Startup Visa allowing foreign-born entrepreneurs to launch high-growth companies and create jobs in the United States.

Implementation of International Entrepreneur Rule by Biden Administration will Spur Job Creation and Innovation

All Press Releases, Immigration, Public Policy May 10, 2021/by Devin Miller

FOR IMMEDIATE RELEASE
May 10, 2021

Contact: Devin Miller
Phone: 703-300-5232
Email: dmiller@nvca.org

WASHINGTON, DC – The National Venture Capital Association (NVCA) was thrilled today that the Biden Administration announced it will fully launch the International Entrepreneur Rule (IER). NVCA has fought for several years for IER, which works similarly to a Startup Visa, to be fully implemented. Today’s announcement means foreign-born entrepreneurs and their investors can take advantage of IER when building high-growth companies in the U.S.

Startup Visa Would Create New Jobs and Innovation in the Pandemic Recovery and Other Findings from NVCA’s New Immigration Policy Report

All Press Releases, Immigration, Public Policy March 17, 2021/by Devin Miller

FOR IMMEDIATE RELEASE
March 17, 2021

Contact: Devin Miller
Phone: 703-300-5232
Email: dmiller@nvca.org

WASHINGTON, DC – The National Venture Capital Association (NVCA) today released a new report called Immigrant Entrepreneurs Can Drive Economic Growth in the Pandemic Recovery. The report examines how foreign-born entrepreneurs play a key role in the creation of U.S. venture capital-backed startups, how current immigration policy is not working for entrepreneurs, and how a Startup Visa and other policy reforms would significantly increase new company formation, job creation, and the overall economic competitiveness in the U.S.

Innovation Coalition Calls on President Biden to Implement the International Entrepreneur Rule

All Press Releases, Immigration, Public Policy February 5, 2021/by Devin Miller

FOR IMMEDIATE RELEASE
February 5, 2021

Contact: Cassie Ann Kiggen
Phone: 202-864-5923
Email: ckiggen@nvca.org

WASHINGTON, DC – A coalition of 16 organizations representing the U.S. innovation, entrepreneurship, and startup ecosystems sent a letter today to Department of Homeland Security (DHS) Secretary Alejandro N. Majorkas asking him to implement the International Entrepreneur Rule (IER). IER, originally put in place at the end of the Obama Administration, would work similar to a Startup Visa by allowing world-class foreign entrepreneurs to launch high-growth companies in the United States by utilizing the parole authority of DHS.

NVCA Defends International Entrepreneur Rule in Comments to DHS

Immigration, Public Policy June 28, 2018/by actualize

WASHINGTON, DC – The National Venture Capital Association (NVCA) filed comments today to the Department of Homeland Security (DHS) arguing against the department’s proposed rescission of the International Entrepreneur Rule (IER), which would allow for talented immigrant entrepreneurs to remain in the United States to build and scale their startups. NVCA argues in its comments that rescinding the IER program would prevent the U.S. from realizing the substantial economic and security benefits that locating new startup companies in the U.S. would provide.

“NVCA is proud to once again lead the charge to support immigrant entrepreneurs,” said Bobby Franklin, President and CEO of NVCA. “Our comments in support of the International Entrepreneur Rule reflect the incredible contributions of foreign-born entrepreneurs and how they are working in partnership with venture capitalists to solve the world’s most challenging problems, whether in technology, healthcare, science, or many other areas. In addition, our comments demonstrate that the administration relies on unsupported assertions and arguments in justifying removal of the International Entrepreneur Rule.” Read more

Rescission of International Entrepreneur Rule Major Mistake for U.S. Job Creation and Innovation

All Press Releases, Immigration, Public Policy May 25, 2018/by actualize

WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today after the Department of Homeland Security (DHS) proposed to rescind the International Entrepreneur Rule, which would allow for talented immigrant entrepreneurs to remain in the U.S. to build and scale their startups.

“The startup and venture community is very disappointed with DHS’s short-sighted decision to turn away American jobs that would be created by the International Entrepreneur Rule,” said Bobby Franklin, President and CEO of NVCA. “The facts are clear: our country needs more entrepreneurship, which is exactly what the International Entrepreneur Rule would bring. We will continue to explain to the administration why immigrant entrepreneurship benefits our country and must be supported by policymakers.” Read more

Court Motion Filed on DHS Implementation of Job Creating International Entrepreneur Rule

All Press Releases, Immigration May 9, 2018/by actualize

WASHINGTON, DC – The National Venture Capital Association (NVCA), entrepreneurs, and startup companies today filed a motion to conduct discovery regarding the Department of Homeland Security’s (DHS) compliance with the court order in NVCA v. Duke. In that case, the U.S. District Court for the District of Columbia ordered DHS to implement the International Entrepreneur Rule (IER). NVCA and the other plaintiffs have grave concerns that DHS has chosen to disregard the court’s previous order. DHS has failed to take action on IER applications, including the applications of the plaintiffs. Troublingly, DHS has made public statements suggesting it is not implementing the IER. The motion to conduct discovery is essential to ensure the court’s decision is fully implemented to allow IER to move forward.

“The federal court’s ruling in NVCA v. Duke was clear: DHS’s delay of the International Entrepreneur Rule was unlawful and the rule must be implemented,” said Bobby Franklin, President and CEO of NVCA. “Unfortunately, DHS has dragged its feet and even tried to persuade immigrant entrepreneurs to not launch new high-growth startups through the International Entrepreneur Rule. The venture capital industry believes the International Entrepreneur Rule will create American jobs by attracting the world’s top startup founders. Our industry is committed to seeing the rule implemented and will continue to advocate for this powerful job-creation tool.” Read more

NVCA, Investors, Business Leaders and Others Call on President Trump to Maintain International Entrepreneur Rule

All Press Releases, Immigration February 8, 2018/by actualize

Coalition Letter to President Trump Outlines Why IER Should Not Be Rescinded

WASHINGTON, DC – The National Venture Capital Association (NVCA) today led a group of 31 business leaders, investors, and organizations committed to American entrepreneurship in calling on President Trump to not rescind the International Entrepreneur Rule (IER). The “Rescission of the International Entrepreneur Rule” proposed by the Department of Homeland Security (DHS) has been pending review with the Office of Management and Budget since November, placing IER on uncertain footing and threatens the benefits to the U.S. economy that come from the IER.

Talented immigrant entrepreneurs are already applying through the IER program and making plans to grow the next generation of iconic American companies as a result of a December 1, 2017 court order from Judge James E. Boasberg of the U.S. District Court of the District of Columbia. Judge Boasberg granted summary judgment for NVCA, entrepreneurs, and startups after they challenged the DHS’s delay of IER. The ruling compelled DHS to end its delay and begin accepting applications of foreign entrepreneurs who wish to grow new companies in the U.S. Despite the court ruling and broad support from venture investors, startups and the business community, DHS continues to push for repeal of a common sense, pro-jobs policy that is in alignment with the president’s economic agenda.

“The International Entrepreneur Rule (IER) allows world-class immigrant entrepreneurs to build new companies in the United States if the startup has substantial potential for rapid growth and job creation,” wrote NVCA and other signatories in a letter to President Trump. Read more

NVCA Cheers Implementation of International Entrepreneur Rule, But More Work Remains

All Press Releases, Immigration December 15, 2017/by actualize

WASHINGTON, DC – The National Venture Capital Association (NVCA) today cheered an announcement from the U.S. Citizenship and Immigration Services (USCIS) that the agency would begin accepting applications under the International Entrepreneur Rule (IER). The move comes in accordance with a recent court ruling in the case of National Venture Capital Association v. Duke challenging the delay of IER by the Department of Homeland Security (DHS). On December 1, 2017, Judge James E. Boasberg of the U.S. District Court of the District of Columbia ruled in favor of the lawsuit brought by NVCA, entrepreneurs and startup companies challenging DHS’s delay of IER. The court ruled in favor of the lawsuit on the grounds that because DHS did not solicit advance comment from the public on the delay, it violated clear requirements of the Administrative Procedure Act. At the same time USCIS is beginning to accept applications of foreign-born entrepreneurs, DHS is proceeding with a notice of proposed rulemaking to eliminate IER, rendering implementation of the application process only temporary.

“At long last, the International Entrepreneur Rule is now taking effect, providing a pathway for foreign-born entrepreneurs to come to the U.S. to build their companies and make strong contributions to the U.S. economy. Foreign-born entrepreneurs are critical to maintaining a strong and growing U.S. entrepreneurial ecosystem and we were proud to step up and represent their interests in fighting for implementation of IER,” said Bobby Franklin, President and CEO of NVCA. Read more

Study Shows Significant New Taxes on Carried Interest Damages Economic Opportunity

blog, Public Policy, Taxes October 12, 2021/by Justin Field and Michael Chow

New research reveals that taxing carried interest at ordinary income rates will harm new venture capital (VC) fund formation in emerging technology regions in the United States. The study, by Professors Yael Hochberg and John Barrios (of Rice University and Washington University in St. Louis, respectively), finds that taxing carried interest as ordinary income would […]

NVCA Member Spotlight: Illumina Ventures

blog, Member Spotlight October 6, 2021/by Sabrina Fang

Welcome to our Member Spotlight series where we give a profile overview of our many diverse members. For this deep dive, we spoke to Nick Naclerio, Founding Partner at Illumina Ventures, to learn more about his firm.

Coalition Letter to President Trump Outlines Why IER Should Not Be Rescinded

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