It’s quite pleasing for the Indian students to know that, although the US government has announced limits on the number H1B visas that can be given per year, more pathways are getting opened for them to get these visas. The universities of Chicago have taken a landmark decision under which the budding entrepreneurs will get H1-B visas provided they enroll themselves in these universities. The consortium of universities which has taken this decision are, DePaul University, Columbia College and Illinois institute of technology. The name of this program is Global entrepreneurship in Residence (EIR). The visas will be for the entrepreneurs to work in this city only.
The Mayor of this city Chicago “Rahm Emanuel” was quite optimistic about this program. As per his opinion, this initiative will lead to a lot of employment happening in this region due to the startups being led by these entrepreneurs.
The universities will also evaluate whether the company started by such an entrepreneur is eligible to be sponsored for an H1B visa.
The companies which already are well set up can work in tandem with such universities and get the chances to provide guidance to new students. Their entrepreneurs will also work from the university, i.e. set up bases on the university itself.
The entrepreneurs who are not that well established can also work with these universities but only in part time roles. Rest of the time they can work from their offices set up in either Chicago city or elsewhere.
Since the government has now put limits on H1B visas of just 65,000, there has been tension prevailing among Indian students. But now, they have found other routes to settle in this country. An additional quota of 20,000 visas has been set up for those who hold a Master’s degree or even more than that.
It’s up to these 4 universities to review the applications of students cum entrepreneurs sent to them. Similar initiatives were also taken by the University of Massachusetts earlier in 2014 on all the three campuses to hire budding entrepreneurs.