The Trump administration has delayed the implementation of the "International Entrepreneur Rule," an Obama-era policy that would have allowed more foreigners to start businesses in the US. The administration intends to overturn the rule, which would have gone into effect next week.

Official notice of the delay, which pushes out the effective date of the regulation until March 2018, will be published tomorrow in the Federal Register. The Department of Homeland Security intends to rescind the rule but is taking public comment during a review period.

The International Entrepreneur Rule is a kind of stunted version of the "startup visa" that tech companies have long favored. It would have allowed foreign entrepreneurs an "initial parole stay" of 30 months in the US, which could have been extended by another 30 months. Only entrepreneurs who had lined up at least $250,000 of investment capital from established, reputable investors would have been allowed to use the rule.

The rule, put into effect in the final days of the Obama administration, only provided for a parole period, and it didn't provide for a path to permanent residency or citizenship. In that sense, it fell short of what some tech companies and venture capitalists sought.

Australia, Canada, Chile, Ireland, and New Zealand all have visa grants or other programs to attract entrepreneurs. In the US, there's no sure-fire way to ensure a foreign startup founder, even one who has lined up significant funding, can continue to reside in the country.

DHS believes the International Entrepreneur Rule is incompatible with Trump's January Executive Order 13767, "Border Security and Immigration Enforcement Improvements." That order requires DHS to ensure that grants of such "parole" status are used only in situations of "urgent humanitarian reasons" or "significant public benefit."

Word that the rule would likely be overturned emerged last month in newspaper reports. The official delay was reported earlier today by the San Francisco Chronicle.

A type of "startup visa" was included in a 2013 immigration reform bill, but the proposal didn't get enough support in the House of Representatives to advance.

Public comments on the matter can be submitted online at www.regulations.gov, referencing DHS Docket No. USCIS-2015-0006.