EC DEI

How can I stay in the US if I’ve been laid off? • ZebethMedia

By zebethcontrolPosted on November 7, 2022Posted in Column, Dear Sophie, EC Column, EC DEI, Government & Policy, immigration law, Sophie Alcorn, Startups, tech layoffs, Verified Expert - lawyerNo Comments

Sophie Alcorn Contributor Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by this contributor Dear Sophie: How can students work or launch a startup while maintaining their immigration status? Dear Sophie: How can early-stage startups improve their chances of getting H-1Bs? Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies. “Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.” ZebethMedia+ members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off. Dear Sophie, I was laid off and I’m on an H-1B. I have enough savings to survive for a while. What should I do if I have been let go from my job? I am on an H-1B, have an approved I-140, and an I-797 that expires in March 2024. If I have to leave the U.S., can my current I-797 be transferred to my next employer? Are there any issues I should be aware of? — Upended & Unemployed Dear Upended, I’m so sorry to hear you’ve been laid off, and the stress this has no doubt added to your life! Your questions are top of mind in light of the thousands of others being laid off from Twitter, Facebook, Stripe, Brex, Lyft, and other tech companies. I realize this can be an incredibly stressful time. It is my personal life mission to help immigrants to have peace of mind, including being able to stay in the United States, keep their families safe, and build their dreams of making the world a better place. I am so happy to have the opportunity to share my advice through this column! The good news is U.S. Citizenship and Immigration Services (USCIS) allows a 60-day grace period to remain in the U.S. if you lose your job while on an E-1, E-2, E-3, H-1B, H-1B1, L-1, O-1, or TN visa. And we can turn your 60-day grace period into a total of eight months of immigration runway — it is possible to extend your time in the U.S. beyond 60 days by filing a change of status from H-1B to another category such as a visitor, student, or dependent spouse. When individuals who need visa sponsorship get laid off, we often hear their highest priority is to maintain their ability to stay in the United States beyond the 60-day grace period, especially if they own a home, have a spouse, or have dependent kids in school. Often people ask me what they need to do if they can’t get a job that offers visa sponsorship within the 60-day grace period or how they can finally follow their heart to explore their own startup ideas. Here are my recommendations for how to stay in the United States, as well as options and opportunities you should keep in mind. To work for another company, start interviewing NOW! Unfortunately, you cannot transfer your current I-797 to your next employer. However, you can transfer your H-1B to your new employer following the H-1B application process. If you are approved, you will receive a new I-797. Put all of your efforts into finding another job. Get as many interviews as you can. Reach out to everyone in your network — friends, family, former colleagues, co-workers, neighbors, and acquaintances. Take advantage of social media and attend networking events. Also, take a look at where venture capital is flowing these days; companies that are receiving Series A funding or above are likely hiring. At a job interview, be direct about your need to transfer your H-1B to a new employer. If the company is not willing to sponsor you, move on. Ideally, you should accept a job offer no more than 45 days into your 60-day grace period unless you have applied for another fallback status because it can take several weeks to prepare and file the H-1B transfer. Additionally, if you qualify for an O-1A extraordinary ability visa, you could consider using an agent to file an O-1A petition on your behalf, which would make your visa independent of any particular employer. This offers you both redundancy because you can change or add paid jobs in the United States without amending the petition every time, generally, as long as you are continuing to work in your field. To work for your own startup, start NOW! If you want to create your own tech venture, find someone you can work with to be your co-founder. Find out if you qualify for an O-1A ASAP or determine if you want to set up your startup to be compatible with an H-1B transfer. Talk with both an immigration attorney and a corporate attorney to devise the best structure for your startup and determine an immigration strategy for your startup to sponsor you for a visa. For many people, if they qualify, I suggest that your startup sponsor you for an O-1A, which offers more flexibility and freedom than an H-1B transfer. Many individuals on an H-1B visa in Silicon Valley and beyond are surprised when we tell them they already qualify for an O-1A. The added benefit of the O-1A is that it serves as a stepping stone to qualify for the EB-1A extraordinary ability green card, which is currently available. Devise a backup plan Have a backup plan and work with an immigration attorney to assess your options. You could transfer your H-1B, become an H-4 dependent visa holder if your spouse has an H-1B,

AfroTech Conference heads to Austin for first in-person event since 2019 • ZebethMedia

By zebethcontrolPosted on November 4, 2022Posted in AfroTech, conference, EC DEI, Media & Entertainment, startupNo Comments

The AfroTech Conference, one of the nation’s most prominent Black tech gatherings, will touch down in Austin on November 13 for its first in-person event since 2019. The event is put on annually by the publication AfroTech, with this year’s theme being web3. High-profile speakers for the conference include NASCAR driver Bubba Wallace, billionaire Mark Cuban, and “venture rapitivist” — VC and rapper — Chamillionaire, who will speak about brand-building and investments. Other speakers include 15 Percent Pledge founder Aurora James, Career Karma CEO Ruben Harris, and Backstage Capital founder Arlan Hamilton. Speaking to ZebethMedia, Morgan DeBaun, the co-founder and CEO of AfroTech’s parent company, Blavity, said this year’s event aims to bridge the gap between music, culture, technology, and fintech. It’s added new sessions and programming to help build the skills of attendees in various technical positions and will host workshops on how to find mentors and advisers. “Tech continues to be the fastest-growing industry in the world,” DeBaun told ZebethMedia. “We want to make sure that our community is not just getting the early career jobs, but actually making it all the way through the career ladder.” Unlike many other tech conferences, culture and music play a central role at AfroTech. DeBaun said her goal was to make the event as entertaining as possible, and music is a defining feature of African American culture. There will be live musical performances from artists like Bia, Wale, and Zaytoven, and Disney will premiere “Black Panther: Wakanda Forever.”

How can students work or launch a startup while maintaining their immigration status? • ZebethMedia

By zebethcontrolPosted on November 2, 2022Posted in Column, Dear Sophie, EC Column, EC DEI, F-1 visa, Government & Policy, immigration law, Sophie Alcorn, Startups, Verified Expert - lawyerNo Comments

Sophie Alcorn Contributor Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by this contributor Dear Sophie: How can early-stage startups improve their chances of getting H-1Bs? Dear Sophie: How can I launch a startup while on OPT? Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies. “Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.” ZebethMedia+ members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off. Dear Sophie, I’m studying bioinformatics at a university in the U.S. What options do I have to work before and after graduation on my student visa? Do any of these options allow me to launch my own startup? — Wanting to Work Dear Wanting, I applaud your enthusiasm to get to work! The opportunity to work and get training in your field is one of the draws of studying in the U.S. Complex immigration rules and regulations for international students — not to mention processing delays and time limits — can make things challenging, but all you need is a little planning to overcome those challenges! Your ability to work in your area of study — and for how long — depends on what type of student visa you hold: F-1 student visa. J-1 educational and cultural exchange visa. M-1 student visa. F-1 offers the most flexible work options Image Credits: Joanna Buniak / Sophie Alcorn (opens in a new window) The F-1 student visa offers the most options for working both before you graduate and after. Two types of training programs are available to most international students who hold an F-1 visa, making them eligible to work in their field of study: Curricular Practical Training (CPT) is available to students at some colleges and universities. Optional Practical Training (OPT) is available either before or after graduation. STEM OPT is a 24-month extension of OPT available to students who graduated with a STEM degree designated by the U.S. Department of Homeland Security. Working under CPT If CPT is available at a university or college, then students on F-1 visas are eligible if they have been enrolled full time for at least one academic year and have not yet graduated. Some graduate programs allow or even require students to apply for CPT at the very beginning of their program.

For immigrant founders in the UK, office hours with VCs are rocket fuel • ZebethMedia

By zebethcontrolPosted on November 2, 2022Posted in Column, EC Column, EC DEI, EC Europe, investors, professional networking, Startups, United Kingdom, VentureNo Comments

Lyubov Guk is a founding partner at Blue Lake VC. She supports early-stage international founders working in the U.K. Robyn Klingler-Vidra Contributor Robyn Klingler-Vidra is associate dean of global engagement and associate professor in entrepreneurship and sustainability at King’s Business School. Juanita Gonzalez-Uribe Contributor All three of us are immigrants to the U.K. We were each greeted with the classic “catch-22” of trying to open a bank account and finding a place to live: To get a bank account, you need an address, but to rent a flat, you need a bank account. This is just one of the (very minor) points of friction immigrants face when moving to a new country. Entrepreneurs who set up a business in a new country encounter more challenges. Lyubov’s own experiences as a Ukrainian immigrant in the U.K. gave her both great empathy for the trials immigrant founders face, and the belief that immigrants often make and build world-leading businesses. Beyond personal experiences, academic research seems to point to an almost inverse relationship between the contributions immigrant founders make and early acceptance by the ecosystem. Designing an international founders open office hours pilot With personal experience as her motivation, Lyubov piloted a program that would offer a softer landing for immigrant entrepreneurs in the U.K. The pilot was an “International Founders Open Office Hours” program that would help immigrant founders boost their social networks and local know-how by meeting with VCs in the U.K. Instead of the usual pitch format, the meetings were informal conversations that aimed to help founders build up this essential — and for immigrants, missing — social capital. The program was inspired by Playfair Capital and its Female Founders Office Hours. The initial start was rocky, as it coincided with the Russian invasion of Ukraine. Lyubov and her Blue Lake partner, David Gilgur, were helping families and friends in Ukraine by day and drafting the program plan by night. Early on, there was the challenge of bringing VCs and partners on board. Blue Lake had been active for a few years but was still a new name in the investment ecosystem. Asking for investors’ time meant that we had to prove we could launch something impactful that key players would want to be a part of.

Latinx founders see VC funding drop as investors retreat from underrepresented cohorts • ZebethMedia

By zebethcontrolPosted on October 28, 2022Posted in EC DEI, EC venture capital, Latinx, Startups, VentureNo Comments

The latest Crunchbase data shows that Latinx-founded companies in the United States raised $250 million out of the $39.85 billion allocated in venture funds in the U.S. this Q3 — or about 0.63%.1 The Q3 sum is a sharp decrease from the $2.3 billion the cohort raised in Q3 last year and a dramatic decline from the $1.3 billion raise in Q2 this year. In total, 1.5% of all venture dollars so far in 2022 have been allocated to Latinx-founded companies, a drop from 2.5% last year, according to the Crunchbase analysis. The numbers are not surprising. Minorities and women overall are seeing dramatic dips in venture funding this year. ZebethMedia previously reported that Black founders raised $187 million this Q3, which meant, given historical data trends, the amount allocated to Latinx-founded companies wouldn’t be too far from that sum. Meanwhile, PitchBook found that female-founded companies have raised 1.9% of all venture funds so far this year, which is, again, a drop from the 2.4% the group raised last year. ZebethMedia noted before that investors tend to pull back toward their old networks to fund the founders who are familiar to them amid economic downturns — and those people tend to be white men. The somewhat encouraging news is that funding for early-stage Latinx-founded companies is on pace to exceed 2021’s total; much of the decline that we see in the above numbers came from a decrease in late-stage financing. The reality remains that women and minorities are not faring well right now when it comes to raising VC, and promises of change have dissipated. Last year, Latinx-founded U.S. companies raised $8.5 billion. Through the end of Q3 2022, that number stands at $2.7 billion, meaning it won’t even come close to passing last year’s record-breaking sum.

The lack of VC funding to women is a Western societal shortfall • ZebethMedia

By zebethcontrolPosted on October 27, 2022Posted in EC DEI, EC venture capital, Europe, Startups, Venture, venture funding, womenNo Comments

The issue of women startup founders not receiving equitable venture funding is a shortfall of the West: It’s here, everywhere in the U.S., and over there, all throughout Europe. It’s hard to say that some of these metrics represent investors simply pulling back when data shows the bias has historical precedence. Even in 2008, all-women U.S. founding teams raised 1.2% of all venture capital, according to PitchBook data. In 2012, they raised 1.8%, then 1.7% in 2016. If anything, 2021 was the anomaly, which saw 2.3% of venture dollars allocated to all-female U.S. teams. Today, that number is tracking at 1.9% so far, which is nearly on par with what, typically, always has been. That the solution is so simple — cutting more checks to women — highlights the discriminatory ideological strongholds that our society continues to impose on us. In Europe, the story is quite similar, although 2020 was the standout year that saw women raise 2.4% of all venture capital on the continent. Last year paints a more realistic picture: All-women teams raised only 1.1% of all venture funds in Europe, a number on par with what they raised in 2017, 2018, and 2019, which saw these teams pick up 1.5%, 1.8%, and 1.5% of all venture capital, respectively, as previously reported by ZebethMedia. The inequality gap is failing to move in a meaningful direction. It’s no coincidence that our societies, with frameworks and ideological mores hand-crafted with sexism and misogynoir, have made little progress toward equitable change. There are two concurrent narratives here: In one, the data reflects how investors, the men in charge, truly feel about economic gender equality. At the same time, the numbers are a byproduct of our Western society, one that is still beholden to excluding and devaluing women, one that relishes their treatment as second-class citizens, rendering their dreams irrelevant.

How can early-stage startups improve their chances of getting H-1Bs? • ZebethMedia

By zebethcontrolPosted on October 26, 2022Posted in Column, Dear Sophie, EC Column, EC DEI, Government & Policy, H-1B visa, Sophie Alcorn, Startups, Verified ExpertsNo Comments

Sophie Alcorn Contributor Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by this contributor Dear Sophie: How can I launch a startup while on OPT? Dear Sophie: How can I protect my H-1B and green card if I am laid off? Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies. “Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.” ZebethMedia+ members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off. Dear Sophie, We have a stealth early-stage biotech startup. Do we qualify to petition a co-founder on STEM OPT for an H-1B in the lottery? Is it worth it or are there better alternatives? — Budding Biotech Dear Budding, It’s absolutely possible for an early-stage biotech (or tech) startup in stealth mode to successfully petition a founder or founding engineer for an H-1B in the lottery or even an H-1B transfer. Here’s how, starting with some background on how the H-1B lottery works for startups. In recent years, U.S. Citizenship and Immigration Services (USCIS) has leveled the playing field for startups entering an employee or prospective employee in the H-1B lottery by creating an electronic lottery registration system. Because the demand for H-1B visas far outstrips the annual supply of 85,000 (20,000 of which are reserved for individuals with a master’s or higher degree), USCIS uses the random lottery process to select companies that are eligible to petition for specific beneficiaries. Before 2020, companies had to submit to USCIS a completed, paper-based H-1B petition package for every employee and prospective employee they wanted to enter in the annual lottery. USCIS adjudicated the H-1B applications that were picked in the lottery and literally mailed the unselected paper applications back to the lawyers. The time, energy and legal costs for submitting an H-1B application made participating in the lottery under this system quite onerous, particularly for startups, because you had to commit to paying for a full H-1B before you knew if your candidate had a chance. Image Credits: Joanna Buniak / Sophie Alcorn (opens in a new window) That all changed in 2020, when USCIS instituted an electronic registration process for the lottery. Now, sponsoring companies only need to pay a $10 fee to register an employee or prospective employee in the lottery, which significantly reduced the barrier to entry for all companies, including startups. That means that you can enter as many candidates you would like to sponsor in good faith into the lottery. If people quit after they are selected and before you file, you don’t have to follow through with a full H-1B. If your budget doesn’t allow for you to currently sponsor your entire international remote team but you still want to give everybody a chance, you can do that. Can early-stage biotech startups get H-1Bs? Yes, most definitely! The biggest issues facing early-stage startups when getting an H-1B visa for their founder or co-founders are:

Black startup founders raised just $187 million in the third quarter • ZebethMedia

By zebethcontrolPosted on October 21, 2022Posted in black founders, EC DEI, EC venture capital, funding, Startups, Venture, venture capitalNo Comments

The amount of capital raised by Black entrepreneurs continues to decrease. The latest Crunchbase numbers show that Black founders raised $187 million in Q3, a staggering decline from the nearly $1.1 billion they received in Q3 2021 and a sizable drop from the $594 million the cohort raised in Q2. Black founders raised just 0.12% of the $150.9 billion deployed in Q3. Within that, Black women raised 49% of all the capital allocated to Black founders in Q3, according to Crunchbase, pacing the number at around $91.63 million. To grab crumbs, it’s good, at least, to see that Black men and women appeared to receive nearly equal amounts of funding this quarter, even though the number they split is appalling. Frankly, there are homes worth more than $187 million. Adam Neumann raised more in one round than all Black founders could in one quarter. Adele is worth $220 million. However, these numbers are not necessarily surprising. ZebethMedia reported investors often retreat to their networks amid economic downturns, taking fewer risks on minorities. “When the venture capital industry catches a cold, underrepresented founders catch pneumonia.” Tiana Tukes, investor, Colorful VC Perhaps this is best exemplified by the fact that the capital raised by Black founders this Q3 is roughly on par with the $180 million allocated to the cohort in Q3 2020. However, Black founders were able to raise that $187 million from just 32 deals, compared to 2020, when it took 93 deals to hit $180 million. In total, Black founders have raised a little more than $2 billion in venture capital this year, a decrease from the stunning $4.72 allocated in the record-breaking year that was 2021.

How can I launch a startup while on OPT? • ZebethMedia

By zebethcontrolPosted on October 19, 2022Posted in Column, Dear Sophie, EC Column, EC DEI, Government & Policy, H-1B visa, immigration law, Sophie Alcorn, Startups, STEM OPTNo Comments

Sophie Alcorn Contributor Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by this contributor Dear Sophie: How can I protect my H-1B and green card if I am laid off? Dear Sophie: Any tips for negotiating visa and green card sponsorship? Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies. “Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.” ZebethMedia+ members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off. Dear Sophie, I’m an international student in the U.S. in F-1 status. I will graduate with a bachelor’s degree in computer science this May and plan to apply for OPT. I want to launch a startup. Can I do that with OPT? What options would I have after OPT to continue growing my company? — Forward-Looking Founder Dear Forward-Looking, It’s so exciting to hear you’re planning ahead for your startup founder journey. Taking this route requires planning and forethought. Consult an immigration attorney for guidance as well as precautionary measures to mitigate risks and protect you along the way. Launching a startup on OPT As an F-1 student with OPT work authorization (work permit), you can get your company up and running and be self-employed as long as you’re putting your degree to work. You must also work full time and have all the proper business licenses that your state requires. You don’t have to wait until you get OPT to start setting up your company. Under immigration law, doing things like forming the legal entity for your company, pitching potential investors or negotiating contracts are not considered work, so you are allowed to do them without OPT work authorization. Image Credits: Joanna Buniak / Sophie Alcorn (opens in a new window) That way, once you’re on OPT, you will have a full 12 months to focus on operating your startup. F-1 students can apply for OPT up to 90 days before completing their degree, but no later than 60 days afterward. Take a look at this previous Dear Sophie column on OPT and contact your university’s DSO (designated school official) for more information. If you already know you want to maintain your startup in the U.S. and find investors here, then talk to a corporate attorney to determine how to structure the company. In general, U.S. investors want to deal with Delaware C corporations. Even though you incorporate in the state of Delaware, your startup can be based in Silicon Valley or anywhere in the U.S.

The highs and lows of Q3 venture capital data for women startup founders • ZebethMedia

By zebethcontrolPosted on October 14, 2022Posted in EC DEI, EC venture capital, startup, Startups, Venture, womenNo Comments

Perhaps unsurprisingly, <a href=” target=”_blank” rel=”noopener”>new PitchBook data found that U.S. companies with all female founders are raising less capital this year than the last amid current economic woes. Last year, women raised around 2.4% of all venture capital allocated, a figure that stands at 1.9% through Q3 of this year. That number becomes even lower and even worse if we factor race into account. When the overall number for all-female teams was 2.4% last year, Black and Latinx women hovered around 0.05% each, while Indigenous Americans raised approximately 0.004% of known capital in the United States, according to Crunchbase. It has long been a worry that, as the venture market slows, the most marginalized groups would be pushed aside as investors retreat to old networks and deals that feel most familiar to them from the founders they don’t hesitate to trust. The direct line between the venture haves and have-nots has always been stark, but there is some good news on the front. Year-to-date capital invested in all-female-founded companies in the United States is slightly higher than what was disbursed in all of 2020. (Last year was a record-breaking year, and given the current market conditions, it’s not shocking that present-day numbers are meager in comparison). All-female teams raised $3.6 billion (out of a total U.S. figure of $194.9 billion) across 742 deals so far this year. In all of 2020, all-female teams raised $3.3 billion (out of $168.7 billion) across 771 deals. It’s clear that 2021 was an outlier: all-female teams raised $8 billion across 1,132 deals. “There is no logical justification for why female founders should be impacted any more so than any other founder category, be it in a bear or bull market.” Pippa Lamb of Sweet Capital It’s jarring to note the difference between deal counts and the amount of money raised when the founding teams are mixed-gender rather than all-female. Compared to $3.6 billion worth of deals all-female teams closed this year, teams with at least one male co-founder raised $32.4 billion in 2,811 deals. So far, mixed-gender teams have also been able to secure the same percentage of capital they raised last year, around 17%.