Silicon Valley Bank and Brad Feld Donate $200,000 To Global Entrepreneur In Residence
Just yesterday we reported that Canada has started a fast track visa program to attract technology talent and startups to the country. This is on the heels of President Trumps attempts at immigration bans and the rocky status of the H1B visa.
Meanwhile here in the United States, Mr. Startup Community, Brad Feld donated $100,000 to the Global Entrepreneur In Residence Program. Silicon Valley Bank made a matching donation via their Anchor Point Foundation for a total of $200,000.
“There’s nothing more frustrating than when a visa problem causes a promising startup to shut down. Global EIR offers a proven method for keeping a business in the United States,” said Brad Feld, partner at Foundry Group and board co-chair of Global EIR. “And it’s not just an idea—Global EIR has already helped a growing number of entrepreneurs gain access to the visas they need to grow their businesses and create American jobs. I’m excited about the potential of Global EIR as a valuable tool to build entrepreneurial communities around the country.”
The donations from Feld and Silicon Valley Bank will continue to fund Global EIR’s mission to help international entrepreneurs access U.S visas in order to build American businesses and create jobs. Global EIR matches highly-skilled foreign entrepreneurs with universities so that immigrant entrepreneurs can provide expert mentorship to entrepreneurial-minded students. In return, these entrepreneurs receive access to the visas they need to build their businesses inside the United States, ultimately contributing to the growth of the U.S. job market.
“Global EIR will unlock a new generation of entrepreneurs, and in turn, their successes will create new innovative economy jobs available to all Americans,” said Craig Montuori, Executive Director of Global EIR. “These commitments from Brad Feld and Silicon Valley Bank challenge the startup community to sign on to our vision of helping great entrepreneurs—the world’s best and brightest, born in any country.”
Currently, there are Global EIR programs in four states across 13 college and university campuses, including the University of Massachusetts, Boston; the University of Colorado, Boulder; the University of Alaska, Anchorage; and San Jose State University. Since the creation of Global EIR in 2014, the nonprofit has attained 42 visas for international entrepreneurs who have started their own companies, creating 123 new jobs and raising $29.9 million in capital in the process.
On top of the $100k donation from Silicon Valley Bank, the company’s General Counsel, Michael Zuckert, will join Brad Feld on the Global EIR board. Zuckert will provide strategic guidance to the organization, drawing on his legal and government affairs experience.
“We were attracted to the Global EIR program since it is a targeted solution to an important issue in the innovation economy,” said Michael Zuckert, General Counsel for Silicon Valley Bank. “Global EIR is bringing bright, entrepreneurial minds into the U.S. as a way to continue to foster job creation and opportunities for U.S. citizens.”
Global EIR is a recent graduate from the Techstars’ Boulder accelerator program and is the first nonprofit to go through the accelerator.
Find out more at globaleir.org