Can an H-1B Visa Holder Start a Startup as a Co-Founder While Working Full-Time for Another Company?

The traditional belief is a resounding No. However, the 1Mby1M methodology takes a different stance, suggesting that it is absolutely possible under certain circumstances. Whether you are financially backing the venture or acting as a passive co-founder, the key lies in the level of involvement and the declaration to your current employer.

Passive Participation and Non-Conflict of Interest

Yes, you can act as a co-founder, but only if you are not seeking angel investors outside your network. It is crucial to declare your intentions to your sponsoring company to adhere to their policies and avoid any potential violations of the appointment norms.

Even as a co-founder, there are several factors to consider:

Resources and Time Management

Understanding your resources is paramount. Vast amounts of time and money are not always beneficial. Start small and gradually scale your efforts. This approach helps you manage your resources more effectively without overextending yourself.

Competing Business Ideas

If your startup idea is in direct competition with your current job or employer, it is wise to clear this with your current employer. Hiding this information can lead to complications and even conflicts of interest.

Building a mentor or coach can also be invaluable. Having someone to guide you and hold you accountable can ensure that you make the right decisions and stay on track.

It is important to recognize that you can't sustain your efforts in two ventures for long. At some point, you will need to give your full attention to one venture. Make this decision early to ensure your success.

Company Permission and Support

Many companies encourage their employees to engage in innovative ventures. If your company is aligned with your goal, you can approach your CEO or the board for permission to pursue a new business venture. Your company may even support you in the initial phase, which can significantly benefit both you and your company.

Final Insights

Neha and Deep offer a straightforward answer of 'Yes,' with the caveat that it requires a significant time and effort commitment. If you are not fully dedicated to your startup, you may not be able to provide the necessary support. In the eyes of investors, a full-time commitment is essential. Additionally, burning bridges can be detrimental, so be prepared to take leave or quit rather than get fired.

Embarking on such a journey requires careful planning and decision-making. Whether you are financially backing the venture or acting as a passive co-founder, the key is to manage your resources wisely and maintain a non-conflicting relationship with your current employer.