Senator Mark Udall Co-Sponsors The Startup Visa Act of 2010

I’m extremely excited that Senator Mark Udall (D-CO), the senior senator for Colorado, has signed on as a co-sponsor of The Startup Visa Act of 2010 that was originally proposed by Senators Kerry (D-MA) and Lugar (R-IN).  Senator Udall joins his Colorado colleague in the House, Jared Polis (D-CO), who has proposed Startup Visa legislation as part of his EB-5 reform bill.

In addition, our friends at SVB Financial (the parent of Silicon Valley Bank) have also formally endorsed the Startup Visa.  My partner Jason Mendelson wrote a post about a roundtable that Silicon Valley Bank hosted for members of “the new Democrat Coalition” which included Jared Polis.  Shortly after this meeting, SVB formally endorsed the Startup Visa.

I’m really proud that two of Colorado’s members of Congress are leading the charge on the Startup Visa.  I have deep respect for both Mark and Jared, their understanding of the importance of entrepreneurship, and their vision for innovation in our country.  I’m also grateful that SVB – which has been an integral part of the entrepreneurial activity throughout the US – for their support as well.

We are working on a few additional major announcements and endorsements in the next sixty days.  I’ve received a number of requests for ways to help.  At this point, if you are part of an organization that you think would be supportive of the Startup Visa, please drop me an email and let’s talk about ways to get a formal endorsement.

  • Andrew

    Three things: 1) We should get rid of credit altogether. Can't afford it, don't buy it. 2) Why is the government further interfering in the market. 3) Is he chanting with Obama in the "yes we did" phenomena of James, Wade, Bosh? ;)

  • http://intensedebate.com/people/brad_bernth4780 Brad Bernthal

    This is encouraging. The United States should be doing everything possible to attract the world' best and brightest innovative minds. Existing policy frictions today for A+ talent that want to reside in the United States, if not remedied soon, is an awful blunder that we'll collectively shake our heads at in 20 years (if not sooner). The start-up visa proposal is easy to get behind: a boost to economic competitiveness, wealth creation, and American vitality.

  • rtoennis

    I'm a big supporter of allowing people, especially smart motivated people, to come to this country, make a new life and succeed and contribute to society the way my ancestors did.

    So I'm supportive of any legislation that makes it easier for the best and brightest from any country, who want to come here, to do so.

    However, I'd also like to see legislation that aggressively supports both US citizens and foreign citizens on "Startup Visa's" in actually delivering funding opportunities so everyone has some time/resources to actually make those companies a success.

    Today most government economic support is aimed at supporting banks or the top 500 existing large businesses. Virtually nothing is available from the public sector to directly help small businesses, even less startups, get going and succeed.

    I've called for a long time for the SBIR program to be expanded into a full fledged government-backed seed fund that can give small grants and loans to startups. Given that traditional Angels and VC's have nearly completely abandoed the seed stage and nearly completely abandonded supporting first time entrepreneurs it's left to the public sector to fill this need.

    I'll be writing to Senator Udall asking him to also look at this "Getting started" problem for first time US and foreign entrepreneurs. The country needs a LOT of people to transition to the entrepreneur mindest and traditional VC's have never been in a position, and certainly aren't now, to support a really big chunk of the workforce becoming entrepreneurs and employees of startup companies.

    So lets really push the pedal to the floor and give both the budding foreign entrepreneurs and budding US citizen entrepreneurs the funding opportunities they(we) need to remake our economy and provent our society from heading into decline as the 20th century Fortune 500 economic model rusts out from the inside and collapses.

  • http://intensedebate.com/profiles/fanbi87 Fan Bi

    awesome, two startup visa blog posts in two days (referring to fred wilson's post yesterday – http://www.avc.com/a_vc/2010/07/immigration-refor…. thanks for the update brad, definitely motivating that there's still great progress being made.

    in terms of timing fred mentioned:
    "So I was thrilled to hear Senator Schumer's optimism last night that we will get "comprehensive immigration reform" in 2011, after the midterm elections". is this inline with what you're hearing on the front-line?

  • Ali

    Do you know when the bill will be passed and when I can apply for it?!