A panel of experts who kicked off the TechNet Innovation Summit Thursday argue that the U.S. needs to revamp its immigration policy to maintain its position as a leader in technological innovation. They note that though the country's colleges and universities attract the world's best students, current immigration rules make it difficult for those students to stay in the U.S. after they graduate.
According to an ITworld.com piece, panelists agree that the U.S. "has about five years to tune up its engine before emerging countries such as China and India catch up." UC Berkeley business professor Laura Tyson advocates immigration laws that use point systems in the visa application process as well as those that "reward education." She points to legislation in Canada, the UK and Australia as examples, the story says.
The same panel also bemoans the complexity of Sarbanes Oxley and tax laws in the U.S., noting that it's becoming increasingly harder for innovative companies to get started and remain successful in the U.S. Large companies can bear the cost burden, Cisco Systems CEO John Chambers says, but SMBs shouldn't have to. His suggestion:
We've got to have "Sarbanes-Oxley Lite" that makes it easier for small businesses to not only list on our exchanges but to be successful in the U.S.