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Weekly Wisdom from Kauffman: Startup Visas for foreign-born entrepreneurs could jumpstart economy

Christina Hernandez Sherwood, eMed Editor, MedCity News

With Washington buzzing about the possibility of comprehensive immigration reform this year, a new Kauffman Foundation white paper showed how Startup Visas for foreign-born entrepreneurs could help jumpstart the economy.

The white paper, “Give Me Your Entrepreneurs, Your Innovators: Estimating the Employment Impact of a Startup Visa,” estimated the visas could help create between 500,000 and 1.6 million in the next decade.

As part of the Startup Act 3.0 bill, Startup Visas would be available to 75,000 foreign-born entrepreneurs who already hold H-1B or F-1 student visas and who start businesses in the U.S.

“There’s hope that 2013 finally may be the year the United States implements comprehensive immigration reform,” said Dane Stangler, director of research and policy at the Kauffman Foundation. “However, that legislation would fall short if it fails to create a new visa for the thousands of potential foreign-born entrepreneurs who are already in the country.”

Related: Immigrant scientists help improve cancer survival rates

Weekly Wisdom from Kauffman is a regular feature on eMed highlighting insightful research from the Kauffman Foundation. Do you have a favorite Kauffman research insight that could help life science entrepreneurs? Send it to mailto:emededitor@kauffman.org.

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