I’ve been working on a side project for quite some time which I hope can turn into a profitable business someday. I am planning to submit it to ycombinator and pitch some investors on it. Thanks to h1b, I won’t be permitted to do it along with my day job. How do immigrant founders go about it? I’ve looked into O-1 and spoken with a lawyer but it seems it’s not easy to get it approved unless you already are a CEO of a well funded startup. This is a chicken first or egg first situation. Doing this in Europe/Canada is feasible but the potential market is USA and this is where the big bucks VCs are..
Register it in your home country and operate from there too it's profitable
Just do it and forget about the laws. If it fails, nothing would happen to you. If you succeed, you will face less lawsuits than Mark Zuckerburg.
In current political climates though, there’s a small chance a competitor will call ICE
If you get funded you don’t have to keep your day job. At that point you build your business until you have something worthy for O1. That’s how immigrant founders do it.
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I have tried everything that you mentioned. Luckily my spouse is a US citizen and we got married 😉