eb5exclusive

After the recent success of the EB-5 visa program, which offers permanent green cards to foreign financiers who can invest at least $500,000 in a U.S. business, some immigration experts believe the next innovative program will focus on bringing entrepreneurs themselves to the country.

The idea has already been tested in other countries. TheStreet.com reports that the UK launched an entrepreneurship visa last year and Canada has a similar program that invites entrepreneurs who have access to at least $300,000 Canadian in capital.

Brad Feld, a managing director of the venture-capital firm The Foundry Group, says that while the EB-5 visa program has been effective in creating jobs in the U.S., it may not be extensive enough.

“We want a foreign entrepreneur to get a visa,” Feld told the news source. He added, “If you’re a foreigner and you want to start a company in the U.S., it’s hard to get a visa to do that.”

The Small Business Administration found that immigrants represent almost 17 percent of new business owners in the U.S. and are about 30 percent more likely to start a business than a native-born citizen.