Entrepreneurship

Fiona Harrigan | 1.19.2024 1:10 PM

International students have few workable options to stay in the United States after graduating, even though most say they would like to do so. Instead, many leave and put their training to use elsewhere, depriving the U.S. economy of a skilled—and often entrepreneurial—work force.

New York state could start chipping away at that problem. Last week, Democratic Gov. Kathy Hochul announced 204 new policy proposals as part of her 2024 State of the State address. The agenda features a section on creating "new avenues for immigrant entrepreneurs," which will allow certain "graduate and doctoral students…to obtain university-sponsored visas that allow them to continue performing and commercializing research without leaving the state."

International students earned "more than 44% of graduate degrees in STEM awarded by SUNY in 2020–2021," it continues. "But many graduates are unable to secure visas and are forced to leave New York and start companies abroad."

In addition to the university-based visa pathway, Hochul's plan will involve Empire State Development, a state economic development agency, "offer[ing] competitive grants to research universities and colleges to retain international entrepreneurs who would otherwise be unable to launch start-ups in New York."

"In the absence of Congress taking action on immigration reform and creating a 'startup visa,'........

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