Last week New York was the third state to create a program – called the International Innovators Initiative (IN2NYC) – based on the construct of the Global Entrepreneur in Residence program.
This is a New York City based program created by the New York City Economic Development Corporation (NYCEDC) and the City University of New York (CUNY). IN2NYC is by far the most ambition program to date. It will help up to 80 selected entrepreneurs gain access to the visas they need to grow their businesses in New York City and is projected to create more than 700 jobs for New Yorkers in the first three years.
The first program was in Massachusetts and is a state driven initiative. The second program was in Colorado and is a privately funded initiative. The New York program is a city driven initiative.
When we started the Global EIR Coalition last year, we knew that Massachusetts and Colorado would be straightforward since they were both in process (MA was done, CO was almost done.) However, we didn’t know which state would be next. We’ve learned a lot about the process of getting things up and running, especially since each state or city university system, which is a key part of the Global EIR program, is different.
New York, as with many things that New York (and New Yorkers) do is big and ambitious. It’s impressive how the various constituents, especially the CUNY system and the NYCEDC, have come together.
After working since 2010 on the Startup Visa and being endlessly frustrated by the inability of Congress to get anything done, I shifted my focus last year to a state by state approach, using the legal and functional framework created in Massachusetts by a team that includes Jeff Bussgang, a fellow board member with me on the Global EIR Coalition. We have several more states in the pipeline to launch and I’m super excited about where this is heading.
If you are in a state other than Massachusetts, Colorado, and New York and are interested in playing a leadership role around the Global EIR Coalition, please email me.
Two big proposals from Massachusetts Governor Deval Patrick today. First, he’s proposing to ban non-competition agreements. He’s also proposing an incredibly clever and innovative approach to immigration reform applicable only to Massachusetts.
I lived in the Boston-area for twelve years (Cambridge for four years and Boston for eight years. ) Even though I often say that was 11 years and 364 days too many for my “non-big city, non-east coast” personality, Boston still has a sweet spot in my heart. I had an amazing (and often excruciating) experience at MIT which was foundational to my personality, thought process, and character. I started and sold my first company there (first office – 875 Main Street, Cambridge; last office 1 Liberty Square, Boston). Techstars Boston was the first geographic expansion for Techstars. I’m not a sports fan but I always root for the Red Sox. I think I have more close friends in the VC business in Boston than in the Bay Area. Two of my closest friends – Will Herman and Warren Katz – both live there. And I know my way around downtown Boston – even after the Big Dig – better than any other downtown in the world.
The Massachusetts non-competition situation has always been stupid. In 2009, my partners and I at Foundry Group joined a coalition of VCs to try to eliminate non-competition agreements in MA. It’s awesome to see Governor Patrick take action on it since it’s one of the major inhibitors of the MA entrepreneurial scene.
The immigration report proposal is even more fascinating. It’s a great example of creative and innovation public-private policy at the state level to encourage and enhance entrepreneurship. Jeff Bussgang from Flybridge explains it succinctly in his post so I’ll just repeat it here.
“The idea is a simple one: create a private-public partnership to allow international entrepreneurs to come to Boston and be exempt from the restrictive H-1B visa cap. How is it possible to do this? The US Citizenship and Immigration Services Department (USCIS) has a provision that allows universities to have an exemption to the H-1B visa cap. Governor Deval Patrick announced today that the Commonwealth of Massachusetts will work in partnership with UMass to sponsor international entrepreneurs to be exempt from that cap, funding the program with state money to kick start what we anticipate will be a wave of private sector support.”
Brilliant. As our federal government continues to struggle to make any real progress on immigration reform, I love to see it happening at the state level. In addition to being good for innovation, it’s the kind of thing that dramatically differentiates states from one another on a policy, business, and innovation dimension that actually matters and likely has significant long term positive economic impacts on the region.
Governor Patrick – kudos to you. Governor Hickenlooper – I encourage you to roll out exactly the same thing in the State of Colorado. I know exactly the people at CU who would be happy to lead this, as would I. And since one of our Senators (Michael Bennet) is leading the immigration reform effort in the US Senate and our other Senator (Udall) has been a strong supporter of the Startup Visa and immigration report from the first discussion about it in 2009, I expect you already know your broad constituents support it.
Oh – and to my friends in NY who have been helping on the immigration reform front, let’s crank this up in NY also! Why should MA have all the fun?