March 05, 2013
by CFOWorld

The U.S. Congress needs to fix skilled immigration programs by encouraging talented immigrants to permanently move to the country, a group of witnesses told a congressional subcommittee.

The U.S. is driving away foreign-born entrepreneurs while other countries are recruiting them, said Deepak Kamra, general partner at venture capital firm Canaan Partners. Kamra, a native of India, called on Congress to create a new startup visa program focused on immigrant entrepreneurs, in addition to the existing H-1B program, a temporary visa program bringing foreign workers to established companies.

"America is at high risk for losing immigrant entrepreneurs to foreign countries," he told the U.S. House of Representatives Judiciary Committee's immigration subcommittee Tuesday. "Our legal immigration policies have essentially sent a message to these talented people that we do not want them here."

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