The group, led by Senator Jerry Moran (R-Kan.), wants to make it possible for foreign entrepreneurs who will employ at least five full-time workers — who are not family members — to stay in the U.S. for up to three years. Applications would be open to holders of the H-1B or F-1 visas as long as they’ve already raised at least $100,000 in funding and are employing at least two people currently.

“Entrepreneurs who have an idea, who are wiling to invest money here, ought to be welcome here,” Moran told Hillicon Valley.

In addition, the bill would create a new five-year visa for foreign students in STEM disciplines who get a job in a technical field. Students would then have the right to become a legal resident and possibly a citizen after that five years.

Apparently, the senators are tired of educating the world and then exporting all that talent back out.

The first Startup Visa was birthed in 2010 by Senator John Kerry (D-Mass.) but died stillborn. Another version in 2011 is still not resolved, and probably never will be, which makes it worth wondering if the same fate will befall the third triplet in this trio of surprisingly entrepreneurial legislation.

Existing visas such as the H1-B, which are designed for technical employees, don’t really fit the bill if you’re a founder, as Anda Gansca, CEO of Knotch, recently discovered:

“This solution just made me uncomfortable — I was starting a company, and all of a sudden I had to become someone else’s employee just to run it?”

Will the bill pass, or even get to a vote?

Vivek Wadhwa, the VP of innovation and research at Singularity University and author of a book titled The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent, is skeptical that government will solve immigration. He said in December that “if we get any immigration reform at all, it will be unpalatable to both sides. It will take months or years to negotiate and will be messy. And while the political battles rage, tens of thousands engineers, scientists, and researchers will return home and Silicon Valley will suffer.”

Hopefully the fact that this is a bipartisan bill will help it move forward.

photo credit: laverrue via photopin cc

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Boom provides an online financial platform for people without bank accounts. It primarily serves immigrant families and allows them to save, share, and spend their money globally, which is key for those with extended families abroad.

Boom’s mobile money service eliminates the need for traditional cash wire transfers by allowing members to use their phones to make low-cost, bank-grade payments using text messaging. Users can also make purchases and withdrawals at participating Boom vendors and ATMs. They simply load money to their account at participating retail locations, such as 7-Eleven, and then text the amount of money to transfer and the phone number of the recipient. Boom confirms the transaction and wires the funds.

Considering there are over 60 million people in the U.S. who do not have bank accounts but do have mobile phones, there is a huge market for this service. Furthermore, there’s also a strong demand among this segment of the population for a way to send money across borders.

“Boom Financial was founded to provide our customers, who are often used to a feeling of helplessness due to high fees, fear of robbery, and extreme inconvenience, bordering on hardship, gain a feeling of control over their finances,” said CEO Bill Barhydt.

In 2011, Boom (then m-Via) collaborated with the US State Department to create the International Diaspora Engagement Alliance to support diaspora communities in the United States, which underscores the company’s commitment to making life easier for immigrant communities. It raised its initial investment of $5 million in 2010.

This second round brings the total funding to $30 million. It was led by Digicel Group, a value mobile operator with an international presence, including in the Caribbean, Central America, and the South Pacific. Boom Finanical will channel the investment towards expanding its product team in the US, as well as increasing its sales and distribution in the US, Latin American, and Caribbean.

m-Via was founded in 2008 and currently has 30 employees, although it is looking to double the team this year. It is based in Palo Alto.