A new immigration program is set to take effect early next year to encourage foreign-based startup companies to locate in the United States.

Supporters of the “International Entrepreneur Rule” include Rep. Jared Polis (D-Boulder), who says the rule will bring new jobs and income to Americans.

Polis has been a strong advocate of immigration reform.

The program was proposed by U.S. Citizenship and Immigration Services. The public comment period for the international entrepreneur rule ended last month.

“The International Entrepreneur Rule would help fill gaps in the current immigration system that force many talented entrepreneurs to depart the U.S. and continue their business ventures abroad,” Polis said. “The U.S. has a history of welcoming the best and the brightest worldwide, immigrants traveling here with energy, entrepreneurial goals and a willingness to do whatever it takes to achieve their dreams. The International Entrepreneur Rule helps keep that tradition going.”

Polis’ comments are similar to recommendations submitted last week by an immigration advocacy group associated with technology executives such as Facebook CEO Mark Zuckerberg and Microsoft Corp.’s Bill Gates.

The group, called FWD.us, submitted their suggestions to the Department of Homeland Security during the public comment period on the International Entrepreneur Rule. Twenty-three other immigration advocacy and technology groups joined FWD.us, including the Consumer Technology Association.

They draw part of the inspiration for their movement from the success of some immigrants who already started big businesses in the United States. They include Google, eBay and PayPal.

Immigrants helped get half the U.S. startup companies off the ground, valued at more than $1 billion, according to Obama administration figures.

The proposed rule gives the Department of Homeland Security authority to assess the applications of business owners for the “startup visas” on a case-by-case basis. FWD.us made recommendations on the criteria that should be used for the assessments.

The group suggested reducing the minimum funding from U.S. investors required for an applicant’s business from $345,000 to $250,000.

FWD.us wants the visa terms for the international entrepreneurs increased from five years to eight years. The number of jobs a startup must create also should be reduced, the group says.

Other FWD.us recommendations include making it easier for entrepreneurs to gain permanent U.S. residence, expanding how a “U.S. investor” is defined and providing better guidelines to qualify for the visas for startups that lack investors.

President Barack Obama started the process that evolved into the International Entrepreneur Rule with an executive action in 2014.

Immigration became a higher visibility issue when Republican President-elect Donald Trump threatened to deport all immigrants residing in the country illegally during his campaign, and to build a wall along the Mexican border to keep out others, a promise he has continued to pledge will be a top priority for his administration during his first 100 days in office.

Polis is one of the congressmen who recommend less drastic immigration reforms, such as the International Entrepreneur Rule.

“While I applaud the Obama administration for moving forward with this rule, it is past time that Congress address immigration reform comprehensively in a more enduring way,” Polis said. “I will continue to be steadfast in my advocacy for immigration reform legislation that keeps families together, promotes economic growth and aligns with American values.”

One of the entrepreneurs who could benefit from the International Entrepreneur Rule is Nigel Sharp, a University of Colorado at Boulder visiting faculty member. He already founded one software company and is trying to start a second computer networking company called Stateless while he remains in Boulder.

His visa expires next May, meaning Sharp, his wife and daughter would need to return to the United Kingdom unless the International Entrepreneur Rule allows them to qualify for an extension.

“And after having invested a year into the Boulder, Colorado community, which I believe is a great place for us to grow this new business, it would be devastating to be forced to leave,” Sharp told The Colorado Statesman.

The Global Entrepreneur in Residence Coalition, a nonprofit group that helps universities obtain H-1B visas for startup executives, assisted him in becoming a visiting entrepreneur at CU-Boulder.

Sharp was one of the executives who gained more time in the United States because of his status as an entrepreneur.

He said the International Entrepreneur Rule would be a big improvement to immigration policy but still sets unrealistic limits on how long foreigners can stay.

“The drawback to me is that when the five years are up and a successful company has been built, there is no clear path on how that successful founder can remain,” he said. “The average for a company to exit or [do an initial public stock offering] is eight to 10 years. Still, this rule is aimed at allowing people to get started and logically is a great starting point for immigration reform.”

The U.S. Department of Homeland Security estimates about 3,000 entrepreneurs per year would qualify for visas under the International Entrepreneur Rule.

A statement from U.S. Citizenship and Immigration Services, a branch of the Homeland Security Department, said the rule “would provide a significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation.”