While Nibletz isn’t going to pontificate on the southern border issue in the United States, the recently passed Senate Immigration Bill is solving a huge problem for startups. One that the likes of Steve Case, Scott Case, Marc Nager, Brad Feld, and others have been championing.

In the most basic of laymen’s terms, it’s somewhat easy for a foreigner to come to America, attend an accelerator, get funding for their company, and go home. It gets rocky when they want to stay and build their company in America, one of the reasons Startup America and other organizations are even around.

It’s also somewhat easy for a sharp foreigner to come and work for Google, Microsoft, or Facebook, but when they have that great idea and want to build their startup in the U.S. things get a lot more dicey.

The new immigration legislation includes “startup visas” that according to The Washington Post, will “allow entrepreneurs from around the world to start firms and create jobs.”

Earlier this year at SXSW Steve Case and Scott Case (no relation) spent a lot of time celebrating startups across the country. However at Startup America’s huge SXSW party, Steve Case took to the stage to talk about immigration and how we needed this reform in order to help spur innovation from great minds who, in most cases, have come over to the United States and seen what they can do here.

Steve Case told The Washington Post: “This important step demonstrates the capacity of our elected leaders in Washington to come together across party lines to advance what is clearly in our nation’s best interest – an immigration system that meets the needs of our 21st century economy. The Senate’s bill will attract the world’s best entrepreneurs and innovators and be a key ingredient to sustaining America’s long-term competitive edge.”

Steve Case, the founder of AOL and Revolution has done some major lobbying on Capitol Hill over the past 4 years to help spur entrepreneurship and innovation across the country. He is the founding chairman of Startup America, which recently merged resources to go global with Startup Weekend as UpGlobal.

Steve Case is also trying to save social local commerce

Some pieces of legislation refuse to die. For a third time, lawmakers introduced a bill that would create visas for foreign entrepreneurs looking to start a business in the United States. The Startup Act 3.0 is a bipartisan bill that would grant entrepreneurs who employ at least two full-time employees or raise investments up to $100,000 an additional three years to grow, with the possibility for permanent status, according to Mashable.com

Democrats and Republicans don’t agree on much at the moment, but the Startup Act 3.0 has support on both sides of the aisle. Even President Obama has voiced his support for these “entrepreneurial visas.” Obama noticed that bright foreign students are studying at American Universities, but don’t have the opportunity to continue toward the American Dream. “Once they earn that diploma, there’s a good chance they’ll have to leave our country,” Obama said.

Not every bill gets three strikes. But the Startup Act 3.0 could be the next step toward economic recovery and social reform.

Potential Impact

The beauty of new businesses isn’t just the jobs or innovation. It’s also the secondary consequences. Foreign entrepreneurs, B2B businesses and consumers all stand to gain from the Startup Act 3.0. Obviously, foreign born entrepreneurs gain access to launch business in the United States. While many will argue that the U.S. is becoming a less and less fertile place to start a business, it still boasts the largest economy in the world, according to Economywatch.com. As startups launch, they strengthen B2B businesses through partnerships. A startup usually can’t facilitate credit card transactions on its own, but a company like Capital Processing Network offers expertise and support. The result? Both businesses become stronger. From the consumer’s perspective, there’s no downside to new startups. Competition means lower prices, higher quality and increased innovation. Considering the vast positives and potential for more job opportunities, it’s no wonder the Startup Act has come back to life.

Visas and Immigration

Part of the reason the Startup Act has needed three renditions is because it dives into a currently unsettled territory: immigration. According to Huffingtonpost.com, previous renditions of the bill failed to pass because of their controversial nature. Immigration is no less controversial, but once again, entrepreneurial visas are on the table. During his recent State of the Union address, President Obama called for a comprehensive immigration reform bill in “the next few months.” It remains to be seen whether this comprehensive reform will interfere with the Startup Act 3.0.

Inside the Bill

According to a press release from Virginia Senator Mark Warner, one of the bill’s sponsors, the Startup Act 3.0 includes provisions beyond creating new visas. Additional provisions include:

A mandate that grants U.S.-educated foreign students who graduate with a master’s or Ph.D. in science, technology, engineering or mathematics a green card and allows them to stay in the United States
Research and development credits for startups less than five years old
Elimination of per-country caps for employment-based visas
A mandate that makes permanent the extension of capital gains taxes on the sale of startup stock held for at least five years

These provisions reveal that the Startup Act 3.0 packs a punch. Perceived by some as a small piece of immigration reform, lawmakers hope 3.0 will jumpstart the economy.

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Steve Case: Passing Immigration Legislation Victory For Startups

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Startup Act 3.0 Aims to Open Borders for Entrepreneurs

Potential Impact

Visas and Immigration

Inside the Bill

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