The following statement is attributed to Gary Shapiro, president and CEO, Consumer Technology Association (CTA), regarding the Department of Homeland Security’s postponement of the International Entrepreneur Rule:

“Today’s U.S. immigration system is not meeting tech industry needs, but possibly ending the International Entrepreneur Rule doesn’t help. This action won’t enhance our nation’s entrepreneurship, innovation, global leadership or job creation. To the contrary, this 'startup visa' provides the world’s best entrepreneurs the opportunity to have a limited period – from two-and-a-half to five years – to demonstrate their value and prove their innovations here in the U.S.

“So many skilled immigrants are knocking on our nation’s doors to innovate, yet we are sending them away to our global competitors: Australia, Canada, Chile, Ireland and New Zealand. Foreign entrepreneurs want to build companies and create jobs in the U.S. because we offer the best opportunity: a legal structure that supports innovation, access to capital and a talented U.S. workforce ready to bring new ideas to life.

“Imagine if we had sent away half of Silicon Valley’s immigrant entrepreneurs away. The 44 immigrant-founded billion-dollar startups now in the U.S. have created an average of 760 American jobs per company. Without these immigrant entrepreneurs, it is unlikely America would stand as the beacon of innovation that it is today.

“Congressional leaders and the Trump administration need to work together to ensure the world’s next great companies are founded here, stay here, continue to create American jobs and drive U.S. economic growth.”