Canada May Benefit From US Decision To Remove Start Up Initiative

Canada May Benefit from US Decision to Remove Start-Up Initiative

Two countries sharing a long border with each other have such a huge difference in opinion towards entrepreneur immigrants. We are talking here about United States and Canada, one country see a huge potential in bringing more immigrant entrepreneurs and the other see them as a threat to the country.

Canada has an open heart to immigrant entrepreneurs who want to build and grow high-potential startups.

As we move on to the border, things are just up side down, in the US, the Department of Homeland Security (DHS) proposes to remove the International Entrepreneur Rule that was introduced during Obama era. This rule was introduced to provide temporary residence to immigrant entrepreneurs who have promising start-up ideas.

The US administration led by President Donald Trump has targeted the program since early 2017 and DHS states that it wants to end this rule as the US government is of the view that this rule compromises protections for US workers and investors and it is not the right means to attract and retain international entrepreneurs.

A silver lining among the black clouds is National Venture Capital Association based in Washington, DC, which has opposed the proposal to remove the International Entrepreneur Rule and has described it as a “major mistake” and “short sighted”.

The association added, “the best immigrant entrepreneurs across the globe now have a number of options as to where they can start their new business, and the International Entrepreneur Rule enables creation of jobs by starting new businesses in the United States, rather than in some other country”.

The same view was expressed by Linda Moore, president and CEO of Technet, a national, bipartisan network of technology senior executives and CEOs in the US that calls itself “the voice of the innovation economy.”

The decision of US to remove the International Entrepreneur Rule sends out a clear message to investors and entrepreneurs across the globe that United States does not need them anymore, said Moore.

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