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National Venture Capital Association files lawsuit against delaying foreign-born entrepreneur rule

The National Venture Capital Association is leading a lawsuit against the Trump administration challenging the Department of Homeland Security's delay of a rule that would have allowed foreign-born entrepreneurs to stay in the U.S. for 2 1/2 years with a possible extension of another 2 1/2 years.

According to the complaint filed on Tuesday in U.S. District Court for the District of Columbia, the Department of Homeland Security and Elaine Duke, acting secretary of the department, violated federal law by failing to solicit public comment before it delayed the International Entrepreneur Rule that was to go into effect on July 17.

The NVCA, along with the other plaintiffs — Omni Labs, a San Francisco-based market intelligence software company, and entrepreneurs Atma Krishna and Anand Krishnawhich — are asking the court to compel the Department of Homeland Security to implement the rule and to process applications of foreign-born entrepreneurs so that they can come to the U.S. on a temporary basis.

"Immigrant entrepreneurs play a vital role in strengthening the U.S. economy, creating new jobs for Americans and pushing the boundaries of innovation. Rather than throw up roadblocks that prevent them from bringing their talent and ingenuity to our shores, we should welcome them with open arms," said Bobby Franklin, president and CEO of NVCA, in a news release.