by Gerry Smith
President Obama on Tuesday called on Congress to create a special visa category that allows foreign-born entrepreneurs who launch successful startups to remain in the country.
"Right now there are brilliant students from all around the world sitting in classrooms at our top universities," Obama said. "They are earning degrees in the fields of the future like engineering and computer science. But once they finish school, once they earn that diploma, there's a good chance they'll have to leave our country."
Obama noted how the popular photo-sharing site Instagram was co-founded by an immigrant -- Brazilian entrepreneur Michel Krieger -- who studied in the United States and stayed after graduating. But the president said many other immigrants who study at elite American universities are unable to secure visas or permanent residency and are forced to launch their startups abroad.[click title to read more]