Recently introduced to the Senate, legislation known as the Startup Act 2.0 has the potential to help spur economic growth through tapping the core of postgraduates who land, learn, graduate and vanish after using up their 29-month student visa.
If you’re one of the lucky ones who are studying a STEM subject ( Science, Technology, Engineering and Mathematics) then a bright future filled with lucky charms and cookie peanut butter may be on the horizon.
On the heels of the JOBS Act becoming legalized — which allows for crowdfunding-based startup investments to keep fledgling businesses ticking over — the new proposal would create two new types of visa.
One visa would focus on STEM. After foreign students earn advanced degrees in these areas and graduate from a U.S. university, they could be offered the chance to change their allegiance and work in the United States without ignoring their visa parole or sleeping with the boss — in return, the student stays in the field for five years.
The other is primarily known as an “Entrepreneur’s visa”. For foreigners slaving at the mouth to exploit U.S. markets, it paves the way for them to stay in the country — as long as they continue to expand their business for three to five years — and hire an American or two.
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