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Contact:  Eric Thomas or Frances Cox, 202-822-9491

March 14, 2011

Compete America Endorses “StartUp Visa Act”

Foreign-Born Innovators and Entrepreneurs Create U.S. Jobs

Washington, D.C. – Compete America, a coalition dedicated to ensuring that the United States has the highly educated workforce it needs to continue to lead in innovation, today endorsed the “StartUp Visa Act of 2011,” as introduced by Senators John Kerry (D-MA), Richard Lugar (R-IN) and Mark Udall (D-CO).

The bill would establish a new two-year employment-based immigrant visa for foreign entrepreneurs and innovators who can show that a qualified U.S. investor is willing to invest in the immigrant’s startup venture. 

“The StartUp Visa Act is an important step towards keeping the best and brightest foreign-born entrepreneurs in the United States, where they can innovate and create jobs for Americans,” said Scott Corley, Compete America Executive Director.  “This is a common sense piece of legislation that deserves wide, bipartisan support.  Foreign-born entrepreneurs have founded thousands of innovative startup companies throughout the country that have helped put America on the leading edge of world technology and innovation.  These companies provide quality jobs and opportunities for Americans and are critical to our nation’s economic recovery and strength.”

The StartUp Visa Act of 2011 would be an expansion from the Kerry-Lugar StartUp Visa Act from last Congress, extending the pool of eligible immigrants to include holders of H-1B visas and entrepreneurs living outside the United States with a market presence in the country. 

“We recognize that the StartUp Visa Act is just one piece of critical employment-basedimmigration reforms, as existing U.S. companies also need the ability to attract and retain the high-skilled talent that is vital to their organizations and ultimately U.S. competitiveness,” Corley concluded.

To learn more about the benefits of highly educated foreign-born professionals to the U.S. economy, visit www.competeamerica.org.

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Compete America (www.competeamerica.org) is a coalition of corporations, educators, research institutions and trade associations concerned about legal, employment-based immigration and committed to ensuring that the United States has the highly educated workforce necessary to ensure continued innovation, job creation and leadership in a worldwide economy.