Study Abroad: This is How New York is Planning to Turn International Students into Entrepreneurs

The plan is to use university-sponsored visas to help students stay in the United States. This will help students to practice their research without having to leave the state. The idea behind this plan is to provide a feasible way for skilled graduates to stay in the States and use their skills to the best of their ability. 

As many graduates leave the States after graduating, they utilise their newly acquired skills elsewhere. The policy proposals for the 2024 State of the State address also include provisions for developing ‘new avenues for immigrant entrepreneurs’.

What is the Plan?

Under this provision, certain graduate and doctorate degree students will be given university-sponsored visas. They can use these visas to continue their research and also commercialise it. Moreover, according to research, more than 44% of STEM graduate degrees were earned by international students at State University of New York between 2020 and 2021.

Therefore, if the US is not able to retain such students it is losing a huge skilled task force. As the US visa is one reason to leave New York, the city is finally ready to address the problem. 

Therefore, a state economic development agency is being planned out. It will work as a medium to fund research colleges and universities in order to retain skilled research graduates. The bird’s eye view is to help them grow start-ups and fuel the technical development in the country. 

The Startup Visa

The new startup visa will help bridge the demand and supply gap for skilled workers in New York City. This visa will also serve as a driving force for innovation and the economy in this way. It will be an alternative pathway for the post-study work visa. That is by providing an opportunity to those who could not procure the former. 

The demand for work visas like the H1B exceeds far more than the annual cap on these visas. US immigration authorities only grant 85,000 H1B visas annually. Therefore, alternative pathways are far more necessary. If you want to read more such informative content, follow Leverage Edu News Updates.