Senators Kerry & Lugar Introduce the Startup Visa Act in Washington, DC

We are thrilled to announce Senators John Kerry (D-MA) & Richard Lugar (R-IN) today introduced The Startup Visa Act in Washington.

The full text of the proposed legislation is here.

This new legislation is also supported by signatures from over 100 US venture capital and angel investors.

The Startup Visa Act proposes legislation to modify the existing EB-5 Visa in order to drive job creation in the US and increase American global competitiveness.  This would enable immigrant entrepreneurs who are creating new companies to secure visas to come to the United States, if there is investment capital available from a sponsoring US venture capital or angel investor of at least $100,000 in an equity financing of not less than $250,000.

Earlier legislation had been proposed last year by US Representative Jared Polis (D, CO-2), H.R. 4259, the Employment Benefit Act of 2009, also known as the StartupVisa.  Later, HR 4259 was included in the overall House Comprehensive Immigration Reform Bill.

The folks here at StartupVisa.com are all very proud of this moment, and we ask for your support as the proposed Startup Visa Act legislation moves closer to a vote. We will provide more information from the sponsoring legislators as it becomes available.

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Relevant documents are available below:

• Letter from Sen.’s Kerry & Lugar describing Startup Visa Act
• Full Text of Proposed Legislation of The Startup Visa Act
• Signatures from US Venture Capitalists & Angel Investors