From: betaboston.com

A state plan to help foreign-born entrepreneurs stay in the country is getting a boost from the private sector.

Silicon Valley Bank is donating $30,000 to the Massachusetts Global Entrepreneur in Residence program, which helps startup founders wrangle the visas they need to keep working on their ideas in the Bay State.

That adds to the initial $100,000 that state lawmakers set aside for the program, which is based at the University of Massachusetts Boston.

The Global Entrepreneur in Residence program is intended to help foreign workers and entrepreneurs stay in Massachusetts if they want to launch, or even work at, an early stage company.

Once those students graduate, they can be caught in a furious competition for a limited number of H1-B visas, which allow employers to sponsor a certain number of foreign workers with in-demand skills.

Those visas also require employers to pay wages at industry standard levels, which can be impractical at startups, where founders and employees are often working for less money in exchange for company stock.