Image via Wikipedia
As a venture capitalist involved in University technology transfer deals, I am pleased to see some movement on the obvious issue - that is to dramatically increase the quota on H1B visa and permanently account for growth. See the article House Republicans Move to Increase H1B Visas .
The USA, hands down, has the best science education system in the world. As such, a large and growing percentage of advanced science degree's are earned by foreigners. Not just any foreigners either, but the smartest, most innovative foreigners. Logic might say, "hey, if we educate them here in this country, we may want require them to stay for a period of time to work to add value to our economy". We have the opportunity to attract and retain the best and brightest in the world! Instead, current H1B Visa policies makes it very difficult for them to stay and we send them home. Yes, we educate them and send them home. As manufacturing moves overseas, our biggest advantage in the world is our ability to out-innovate our competition. USA educated foreigners that want to stay to work should be able to - period, end of sentence.
The next battle to to give start-ups a fair shake at the quota. How does a start-up compete with a team of Microsoft or Intel lawyers who are charged to suck up the entire quota as fast as possible?
Comments