Ask HN: How can I go full-time on my startup with H1B visa?

(posting from a one-time account for anonymity)

Hi HN,

Some background: * I've a valid H1-B Visa i.e. I've a day job. * My Green Card (Permanent Residency) application is in the last stage, but it will still take 3-4 years to get the GC. * I run a web-application in the part-time, which makes decent money and has decent traction. * I've a co-founder, who is also part-time, and is in the same boat as mine. * I was doing fine until a competitor came with serial/celebrity entrepreneurial background, and they are executing fast with boat loads of money. * Having competitors validated my idea/market, so I'm more excited to compete now. * To execute it faster, now I need to go full-time and raise some angel money.

But - * What are the options for me to go full-time by sponsoring my own H1B visa?

I've heard/read that if I raise around 200-300K, then I can start a company and it can sponsor my H1B visa.

I'll obviously consult with lawyers.

But my main questions are - * Has anyone already done this kind of thing before so that I can have a chat with you? * Do you have any recommendations for lawyers who have helped you to do this? * How feasible is this in current economic situation?

Thanks in advance for your feedback.