To establish an employment-based immigrant visa for alien entrepreneurs who have received significant capital from investors to establish a business in the United States.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``StartUp Visa Act of 2011''.
SEC. 2. STARTUP VISAS.
(a) In General.--Section 203(b) of the Immigration and Nationality Act (8 U.S.C. 203(b)) is amended-- (1) by redesignating paragraph (6) as paragraph (7); and (2) by inserting after paragraph (5) the following: ``(6) Sponsored entrepreneurs.-- ``(A) In general.--StartUp visas shall be made available, from the number of visas allocated under paragraph (5), to qualified immigrant entrepreneurs-- ``(i)(I) who have proven that a qualified venture capitalist, a qualified super angel investor, or a qualified government entity, as determined by the Secretary of Homeland Security, has invested not less than $100,000 on behalf of each such entrepreneur; and ``(II) whose commercial activities will, during the 2-year period beginning on the date on which the visa is issued under this subparagraph-- ``(aa) create not fewer than 5 new full-time jobs in the United States employing people other than the immigrant's spouse, sons, or daughters; ``(bb) raise not less than $500,000 in capital investment in furtherance of a commercial entity based in the United States; or ``(cc) generate not less than $500,000 in revenue; ``(ii)(I) who-- ``(aa) hold an unexpired H1-B visa; or ``(bb) have completed a graduate level degree...