The U.S. startup visa, passed with much fanfare during the twilight of Barack Obama’s presidency, was supposed to draw thousands of foreign entrepreneurs. Instead, just 10 people have applied.
A big reason for the shortfall is that the year-old program has been constantly under assault since the election of President Donald Trump, whose agenda revolves around tightening immigration rules and dismantling Obama-era policies. The Homeland Security Department has twice delayed implementation of the program but agreed to leave the application process open after venture capitalists won a court challenge in December. No one has been granted a visa, and Homeland Security said last year that it’s working on a plan to kill the rule entirely.