The administration of President Barack Obama proposed a rule on Friday aimed at attracting thousands of immigrant entrepreneurs to start companies in the United States.
The rule, proposed by the Department of Homeland Security, would ease the ability of startup founders to build companies if they have significant funding from U.S. investors.
The administration hopes the rule will be completed before Obama’s term ends on Jan. 20.
The proposed rule is part of Obama’s commitment to “attracting the world’s best and brightest entrepreneurs to start the next great companies here,” Tom Kalil, a technology policy adviser at the White House, told reporters in a call.
Kalil said immigrants have co-founded as many as one in four high-tech startups across the United States and more than half of all startups in Silicon Valley.
Read more: St. Louis Post-Dispatch