Saturday, 06 June, 2020

Venture capital association slams Trump Administration's delay of the International Entrepreneur Rule

Daniel Kravtsov works on his computer late at night at his home in Hayes Valley. Kravtsov is one of thousands of foreign entrepreneurs who try and make it in the U.S Venture capital association slams Trump Administration's delay of the International Entrepreneur Rule
Christy Curtis | 12 July, 2017, 02:05

Under the rule, foreign entrepreneurs who received financial backing for a new business venture could come to the US for 30 months to build their companies, a stay that could be extended if they raised $250,000 or more for their business from American investors or $100,000 or more from government entities.

The Trump administration has delayed implementation of an Obama-era rule that would have made it easier for foreign entrepreneurs to enter the USA for building their startups.

"The notice reads, "This delay will provide DHS with an opportunity to obtain comments from the public regarding a proposal to rescind the rule" in light of President (Donald) Trump's executive order from earlier this year on immigration enforcement".

The NVCA's work on the International Entrepreneur Rule began last October, when the organization pushed to ensure that the rule would be finalized before the end of the Obama administration.

In its decision, DHS determined that the International Entrepreneur Rule violated this order and chose to delay it accordingly.

The Rule was due to come into effect next week and would have allowed entrepreneurs with stateside backing of at least US$250k to move to the Land Of The Free to start a company.

"Big mistake", wrote America Online founder Steve Case, now chief executive of the Revolution investment fund, in a post on Twitter.

David Griffin pulls his name out of Knicks front office job race
So Griffin departed, immediately becoming a desirable option for any team looking for someone to run its basketball operations. With Griffin's pull-out, Steve Mills will continue his work as general manager until the Knicks find a replacement.

"Immigrant entrepreneurs are job makers, not job takers", he said.

Looks like the Trump administration doesn't want to let anything come in between his efforts to constrict immigration flows to the country.

More than 160 technology firms, including Amazon, Facebook and Google parent Alphabet backed a legal brief criticising an earlier executive order banning travel into the USA from six Middle Eastern countries.

"Today's announcement is extremely disappointing and represents a fundamental misunderstanding of the critical role immigrant entrepreneurs play in growing the next generation of American companies", Bobby Franklin, President and CEO of NVCA, said in a statement.

A group of Republican senators last month sent Homeland Security Secretary John Kelly a letter calling the rule consistent with the administration's "goals of stimulating the economy and creating job growth at home".

United States technology firms, which are heavily dependent on their ability to attract talent from overseas, have also been critical of the administration's moves to restrict access to the H-1B visas used for skilled staff.

Recommended

Ben Simmons' goal for the upcoming season: "The goal is to win". Ben Simmons' goal for the upcoming season: To complement its slew of promising young talent, Philadelphia has also signed veterans J.J. The 2016 number one pick, Ben Simmons , missed his entire rookie season with a foot injury.

China: Umbrella Rental Company Has Lost Most Umbrellas In 3 Months China: Umbrella Rental Company Has Lost Most Umbrellas In 3 Months However, he added that the company will press on with its rollout, aiming to make 30m brollies available by the end of the year. The same publication reports that Zhao plans to release another 30 million umbrellas across China by the end of the year.

Kellyanne Conway laughs off contentious CNN interview: 'I admire your moxie' Kellyanne Conway laughs off contentious CNN interview: 'I admire your moxie' Trump Jr. met with Veselnitskaya because she promised information that could be damaging to Trump's opponent, Hillary Clinton . The meeting was also attended by President Donald Trump's son-in-law Jared Kushner and former campaign manager Paul Manafort.

Japan floods death toll rises to 15 Japan floods death toll rises to 15 Volunteers from within and outside Fukuoka began gathering in Asakura to help remove sand and soil from houses. Kyushu is the name of the southwestern main island that includes Fukuoka and Oita.

Wildfire Scorches Thousands of Acres in Santa Barbara County Wildfire Scorches Thousands of Acres in Santa Barbara County The fire has burned 42.6 square miles (110.3 square kilometers) of grass, brush and timber since starting June 30. Island fire: Lightning also caused this fire, which is burning west of Edna in the Marble Mountain Wilderness.

Blac Chyna Breaks Silence On Rob Kardashian's Revenge Porn Blac Chyna Breaks Silence On Rob Kardashian's Revenge Porn I felt as though he just really needed, you know, help without somebody pointing their finger. Kardashian is also prohibited from posting any photos online of Chyna or their daughter .

Lawmakers slam Alvarez's proposal to extend martial law to 2022 The death toll has breached the 500 mark, with 39 civilians killed, 379 terrorists killed, and 89 government troops killed in action.

UNESCO puts Hebron in danger list UNESCO puts Hebron in danger list In an intractable and long-running battle, Unesco's recognition is, at least, a move in the right direction for Palestinians. She would not comment on whether Hebron had been recognised as Palestinian, saying the exact wording would be decided later.

Jon Rahm secures convincing six-stroke Irish Open victory Jon Rahm secures convincing six-stroke Irish Open victory Challenge Tour player Gavin Moynihan finished as the leading home player in a share of 20th place on 13 under after a closing 64. Southgate's share of second was the best finish of his career to date, eclipsing his fourth place in the same event past year .

Trump Considers Hard Line on Chinese Steel in Advance of G20 Summit Trump Considers Hard Line on Chinese Steel in Advance of G20 Summit But any USA restriction on steel imports would have a relatively muted effect on China, and would hit other countries much harder. "It just opens the door to everyone else to do same thing, not just on steel", Reinsch said .

Vladimir Putin Warns Against 'Losing Cool' On North Korea Vladimir Putin Warns Against 'Losing Cool' On North Korea South Korean President Moon Jae-in said the test indicated a quicker than expected pace of the North's ICBM program. The Air Force, in a statement, called the mission a "demonstration of the ironclad US commitment to our allies".

Tour de France 2017: Geraint Thomas out after crash on stage nine Tour de France 2017: Geraint Thomas out after crash on stage nine Monday is a rest day and the fight for the overall title is set to resume next Thursday with the first big Pyrenean stage. Although the group went with Aru, they neutralised the Astana rider, and allowed Froome to get back into the group.

UK Hospital Reconsiders Baby Charlie Gard's Death Verdict UK Hospital Reconsiders Baby Charlie Gard's Death Verdict A GoFundMe campaign for Charlie has raised more than £1.3 million, or roughly $1.7 million. The hospital also offered to ship the experimental drug to Great Ormond Street Hospital.

UK Industrial & Construction Output Fall Unexpectedly UK Industrial & Construction Output Fall Unexpectedly Sterling dipped below $1.29 after Friday's data and hit its lowest level since June 28. Similarly, manufacturing output dropped 0.2%, offsetting a 0.2% rise in April.

Britain's May optimistic on Trump visit, UK-US trade deal Britain's May optimistic on Trump visit, UK-US trade deal Fraser, Britain will not be able to negotiate with anyone until they have departed from the European Union. Downing Street said that "no date is being announced today".