Visas for Entrepreneurs are needed for Silicon Valley to keep the lead

Visas for entrepreneurs in select countries, Source:

According to the Economist, it is easier for entrepreneurs to immigrate to Australia, Canada, the New Zealand and Chile than in the United States. The article also hints that obtaining an immigration visa is more flexible in the UK, Singapore and Ireland. 

And here’s the complete article

Everyone is playing “catch up” to Silicon Valley

What the article fails to mention is that these countries are playing catch up, i.e. they’re trying to build their own start-up ecosystem and they can achieve this by being more flexible in their immigration policies and attract world-class talent away from Silicon Valley.

The Economist Intelligence Unit and recruitment firm Heidrick and Struggles ranked countries globally according to the openness of their ecosystem to foreigners (the overall score includes hiring of foreign nationals as well as foreign direct investment and foreign trade). Denmark, Sweden, Singapore, and Finland consistently rank high on openness. In my opinion, a question arises: Is this just because they are small countries that have to be open to survive?

See pp. 19 and 20

Silicon Valley has become conservative

I do believe that the US needs to do more to keep and attract more talent if it wants to stay the uncontested leader. A few articles with a tad of American sensationalism on this subject::

Silicon Valley pushes for more foreign workers despite federal probes

Silicon Valley loses foreign talent

The US raised the quota for foreigners who can receive work visas in 2000 until 2003 during the boom with the American Competitiveness in the Twenty-First Century Act. The cap was 195,000 during the boom and then abruptly was adjusted down to 65,000 starting in 2003.

What lays ahead

Silicon Valley’s loss is another country’s gain — the valley benefited from brain drain from other countries in the 90s and 2000s, but now those countries are developing and trying to keep their talent “home.”

The US has become more conservative with regard to foreign talent as its ecosystem matures. Will other countries become more conservative as well once their ecosystem “matures”?

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