Trump Administration Blocks ‘Startup Visas’ That Tech Leaders Backed
- Postpones Obama-era program that was to begin July 17
- Announces intention to rescind program for entrepreneurs
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The Trump administration said it plans to rescind an Obama-era program that would allow foreign entrepreneurs who launch startup companies in the U.S. to live in the country, in the president’s latest effort to constrict immigration flows.
Known as the International Entrepreneur Rule and favored by many in the technology industry, the program would allow non-U.S. citizens who launched companies that won $100,000 in government grants or received $250,000 in venture capital investment to stay in the U.S. for a renewable 30-month term. Finalized in the last days of the Obama administration, it was set to take effect July 17.