As the Trump administration sought to end the International Entrepreneur Rule created by the Obama administration for immigrant entrepreneurs and has made obtaining H-1B visas more difficult, other countries have sought to attract tech talent and entrepreneurs. Although immigrants and children of immigrants have played critical roles in many of Silicon Valley’s top companies—including Google, Tesla, eBay, Stripe, Apple, Oracle, and Amazon—immigrants are now being drawn to visa programs with a range of perks in such countries as the UK, China, Japan, Israel, Germany, Estonia, Australia, New Zealand, and Canada. “The fight over tech talent is not something that is coming in the future. It’s happening right now,” Kate Mitchell, founder of Scale Venture Partners in Foster City, California, tells Bloomberg. “And we are losing.”

The Department of Homeland Security (DHS) has proposed a rule that would end the Obama-era International Entrepreneur Rule (IE Final Rule), which allows certain foreign entrepreneurs to be considered for parole to come temporarily to the US to develop and build companies. To qualify, entrepreneurs must demonstrate that they would provide a significant public benefit with rapid job growth and creation by submitting substantial evidence including proof of significant capital investment from US investors with established records of successful investments, or if they have obtained significant awards or grants from specific federal, state, or local governments. The parole would provide these entrepreneurs temporary stay of up to thirty months, with the option to extend an additional thirty months, so that the entrepreneur can oversee the company’s growth in the US.