Global Entrepreneur in Residence Program

• The program will allow your company to be co-located “at” Babson’s location in Wellesley and be allowed to file a cap-exempt H-1B petition with the USCIS. This means that you will not be subject to the H-1B cap lottery. The petitioning company, not Babson, is responsible for paying filing fees and attorney fees.
• Babson College GEIRs pay an annual program participation fee.  This program participation fee may be paid in monthly installments if needed. As a participant in the program, Babson College GEIRs have access to Babson's entrepreneur support ecosystem which includes access to co-working space at Babson's Wellesley location in the heart of campus and steps away from Babson's esteemed entrepreneurship faculty. 
• Program participation rates may be impacted by the number of workspaces required by your company and your affiliation with Babson. Babson, F.W. Olin College of Engineering, and Wellesley College alumni will be offered a discounted rate.
• The program also encourages your involvement as a volunteer mentor and your support for Babson academic and research initiatives. See below for more information on the Babson College GEIR role. The role you play will be in furtherance of Babson’s mission to educate entrepreneurial leaders who create great economic and social value everywhere.

Each year, more than 1,000 entrepreneurs leave the Commonwealth of Massachusetts due to the cap on U.S. H-1B visas (nonimmigrant visas that allow U.S. companies to employ foreign workers in specialty occupations that require theoretical or technical expertise in specialized fields). Annually, there are only 85,000 H-1B visas available for some 233,000 requests.

The Babson GEIR builds off the framework established by the Massachusetts Legislature in 2014 with the enactment of a program to facilitate collaborations between global entrepreneurs and institutions within the University of Massachusetts system. Successful pilot programs ensued at UMass Boston and UMass Lowell with nine visas issued to entrepreneurs who created 134 jobs and raised $47.6 million in funding for these ventures.

• Those who are well underway in setting up a business in the U.S.
• Those currently in F-1 status who want to obtain H-1B status to work for their company in the U.S.
• Those with sufficient proof of funding to show that they can pay the prevailing wage when sponsoring themselves for H-1B worker status
• Those who are currently on OPT/starting OPT and have a startup that can reasonably be expected to qualify as “well underway” by the time their OPT expires
• Graduates from any Massachusetts college or university

In order to be eligible for the Babson College GEIR program (and to file an H-1B petition), your business must be “well underway”. There are a number of factors we (and the United States Citizenship and Immigration Services (USCIS)) would consider when determining whether your business is “well underway”. Such factors include the following:

• Your business would have a separate Board of Directors which has the ability to hire, fire, pay, supervise or otherwise control your employment.
• The business would have to be ready to generate enough professional work for you to do on a part-time or full-time basis. The argument has to be available that there is enough work that requires at least a bachelor’s degree or its equivalent. You cannot perform mostly the ministerial functions of setting-up a business. The business needs to be at the point where the professional work is being done. For instance, you are CEO and overseeing the functions of the business (sales, services, billing, etc).
• To demonstrate that your business has sufficient professional work, you should have copies of signed contracts, work orders, and/or term sheets. You will also be able to show sufficient funds for your business (for example, bank statements showing startup funding, wire transfers and/or tax returns).
• Your business would have the ability to pay you at least the prevailing wage. Visit the Foreign Labor Certification Data Center Online Wage Library for prevailing wage data.
• Your business would have been legally formed, and have the appropriate corporate documents (including articles of incorporation, etc.) and proof of an IRS Employer Identification Number (EIN).
• Your business would have any/all required Business Licenses.
• It is helpful to have an organizational chart and business plan regarding the business, with a list of positions the business is planning to fill.
• It is helpful to have marketing materials, brochures and other documentation of the services to be performed/products to be distributed by your business.

You should be able to document how you will be paid. A bank statement showing funds in the bank, signed contracts for work, or other similar proof, will be required. H-1B petitions are required to attest that the prevailing wage will be paid to the H-1B worker. The prevailing wage for an entry-level CEO in the Boston area is $58.57 per hour. The prevailing wage for an entry level general manager is $34.39 per hour. The prevailing wage for a marketing manager is $47.40 per hour. The prevailing wage for a sales manager is $40.32 per hour. The prevailing wage for a market research analyst is $22.07 per hour. There are other categories to consider depending on the role you serve at your company, and prevailing wages are adjusted once a year by the DOL so the figures above are subject to change. You can file for part-time work.

You will be required to pay USCIS fees as well as attorney’s fees. The USCIS fees for an H-1B petition for a small employer are $1,720. Using premium processing costs an additional $2,500, which is usually encouraged/needed because of lengthy USCIS processing times. Attorney fees can vary.

Specific volunteer program activities expected/encouraged as part of the Babson College GEIR program in furtherance of Babson’s mission:

1. Provide mentoring and guidance to students and alumni who are working on starting businesses or developing entrepreneurial projects.
2. Serve as an ambassador to make connections between the campus and community members in the entrepreneurial ecosystem in Wellesley and Boston.
3. Meet with students and alumni to support their strategy and tactics for building their businesses and/or help connect them with the appropriate resources on campus or in the community.
4. Become involved with organizations on campus and in the community to identify, create, and deliver content-specific workshops and events.
5. Involve Babson students in volunteer activities regarding your startup so that they may gain relevant experience.
6. Participate in academic and research initiatives as appropriate (e.g., cooperate with Babson faculty seeking to create academic materials such as business cases).