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Hi, I'm doing research on this topic to draft a public comment for USCIS and I'd like to request everybody's input: -Is it reasonable to limit this to only 3 f

Hi, I'm doing research on this topic to draft a public comment for USCIS and I'd like to request everybody's input: -Is it reasonable to limit this to only 3 founders per company, or should it be 4? -Reasonable for a successful founder to own at least 10% at the end of the 2 year period (which could be 5 years after founding the startup)? -Reasonable to require $345k within the 1st 3 years to qualify? Too much capital? -Is $500k annual revenue with average annualized revenue growth of at least 20% a good minimum requirement for proving "substantial and rapidly increasing revenue"? -Will certain industries like biotech or medical devices be harmed if there is a requirement that the investor funding and application must occur within the first 3 years after founding? Are there some types of companies that take longer to get traction? -Is winning pitch events or other competitions a good indicator of potential for rapid growth and job creation? -Does getting into an incubator show a potential for success? Thanks Sophie Alcorn My blogs about this program: http://alcornimmigrationlaw.com/international-entrepreneur-rule-foreign-founders/ http://alcornimmigrationlaw.com/international-entrepreneur-r...

duncanawoods 10y ago
> Reasonable to require $345k within the 1st 3 years to qualify? Too much capital? An international founder probably wants to come to the states for funding and scaling. Having pre-conditions on both scale and funding seems like a chicken and egg. Requiring funding rules out all bootstrapped businesses which are likely candidates. > $500k annual revenue The conditions feel like they select for small businesses like restaurants but filter out the potentially massive ones e.g. pre-revenue consumer facing like Facebook / WhatsApp or R&D heavy businesses like Biotech. Neither of these may see revenue in the first few years but have evidence potential in user growth, engagement or scientific achievement. > Is winning pitch events or other competitions a good indicator of potential for rapid growth and job creation? > Does getting into an incubator show a potential for success? If a founder is wanting to relocate from a non-startup friendly region then neither of these are may have been available. IMHO both competitions and second-rate incubators are "playing at business" and distractions from the truly necessary steps.
- bernardlunn 10y ago
  Just nodding and agreeing with all your points.

duncanawoods 10y ago

> Reasonable to require $345k within the 1st 3 years to qualify? Too much capital? An international founder probably wants to come to the states for funding and scaling. Having pre-conditions on both scale and funding seems like a chicken and egg. Requiring funding rules out all bootstrapped businesses which are likely candidates. > $500k annual revenue The conditions feel like they select for small businesses like restaurants but filter out the potentially massive ones e.g. pre-revenue consumer facing like Facebook / WhatsApp or R&D heavy businesses like Biotech. Neither of these may see revenue in the first few years but have evidence potential in user growth, engagement or scientific achievement. > Is winning pitch events or other competitions a good indicator of potential for rapid growth and job creation? > Does getting into an incubator show a potential for success? If a founder is wanting to relocate from a non-startup friendly region then neither of these are may have been available. IMHO both competitions and second-rate incubators are "playing at business" and distractions from the truly necessary steps.

bernardlunn 10y ago
Just nodding and agreeing with all your points.