VC trade group seeks injunction to reverse entrepreneur visa delay
The National Venture Capital Association, which last week filed a lawsuit against the Dept. of Homeland Security over its delay of a visa for foreign entrepreneurs, has submitted a request for a preliminary injunction on the delay. The injunction would force the agency to immediately implement the International Entrepreneur Rule, which was set to go into effect in July, pending the NVCA's lawsuit.
Why it matters: In July, Trump delayed until March the Obama-era rule which would have let entrepreneurs who meet certain requirements to stay in the U.S. for 2.5 years to get their companies off the ground. The NVCA says the lack of entrepreneur-friendly visas will push startup founders to start their companies in other countries and that this has already begun to happen.