A better Startup Visa

As Brad Feld, one of the chief campaigners for the Startup Visa, announced on his blog, a new version of the Startup Visa Act is preparing to do the rounds of the US legislature.

In particular, Feld notes that the new act offers:
  • Lowered, More Realistic Thresholds: The minimum investment has be lowered to $100,000. This is more in line with a larger number of startup companies.
  • Broadened Qualifications to Include H-1B or Students with Advanced Degrees: Entrepreneurs already in the US on an unexpired H-1B or those who have completed a graduate level degree in science, technology, engineering, math, computer science are eligible to apply as long as they have either an annual income of $30,000 or assets of at least $60,000 and a qualified US investor has agreed to invest at least $20,000. This opens up the Startup Visa to students after they graduate, which is a huge thing.
  • Entrepreneurs Who Want to Relocate: Entrepreneurs who’s companies are based outside the US can now relocate as long as their businesses have generated at least $100,000 in sales in the US.
If the second point had included MBAs as well as the Science, Technology, Engineering and Math crowd -- I could already qualify! Fortunately, I am more excited about the point on the "$100,000 in sales". This is highly compatible with my own goals.