Unshackled, a new $3.5 million fund, has a plan to help entrepreneurs who have great ideas but who need help securing work visas so they can remain in the U.S. to work on them. In addition to funding, Unshackled will sponsor these entrepreneurs’ visa applications, so they can leave their current employer — or graduate from college — without being deported.
The idea of a startup studio, a hybrid between a VC fund and a coworking space and an accelerator, is becoming more and more popular. Today, yet another ‘startup studio’ is being announced by founders Nitin Pachisia and Manan Mehta, and they’re calling it the Unshackled Fund. The duo has put together $3.5 million in funding, as well as 50 of some of the most influential angel investors, VCs and entrepreneurs to provide the most resourceful environment possible to create a company. Unshackled will bring on 20 to 25 promising entrepreneurs with ideas, provide a steady paycheck and health benefits, and connect the entrepreneurs with the right advisors in the fund to get to a seed round. Unshackled will even help foreign entrepreneurs handle issues with being in the U.S., like sponsoring a work visa or green card.