As you can see from the above, the proposed US Startup Visa compares poorly to its Canadian competitor in terms of its external capital raising requirements, its revenue requirements, it’s level of complexity AND it’s lengthy applicant timelines.
And that’s before we even look at the requirements for startup founders’ families (most notably in terms of their spouses’ ability to work in the US), their employees, and the families of employees.
So while it is encouraging that the US is investigating how to boost their appeal as a destination for startup founders, the current LIKE Act, in its current format, is likely to be a damp squib.
And until such time as the US realises this and makes the necessary amendments, countries like Canada, Germany, the UK and Australia will enjoy the pick of the crop when it comes to international tech talent.
Since the advent of the Trump Era in American politics, the myth of American exceptionalism is evaporating fast, and with it, the country’s appeal as a settlement destination for top-tier foreign talent.
Combined with prohibitive immigration regulations and ongoing policy discrimination agains the global South, the US’ dearth of tech talent will continue, and likely become even more exacerbated during 2022 and beyond.
And the sooner American policymakers come out of denial about this, the sooner the country will stand a chance of regaining its competitive tech edge.