Great to see that might be gaining momentum and it would seem to be an idea that could get bipartisan support. Here's the link to the discussion on Paul Graham's essay on the Founder's Visa - http://news.ycombinator.com/item?id=556908
"being able to raise money" is just clearly a too easily fudged condition since you wouldn't want to regulate what was done with the money afterwards. They snuck the "accredited U.S.-based venture capital firm" phrase in without explanation when, as previously discussed here, accrediting venture capitalists is a far from easy task and quite possibly not desirable for the industry.
An alternative would be to liberalize the terms of the H1b Visa so that workers could come on an H1b and then start startups. It would give the H1b receiver more leverage, thus increasing their salaries and reducing complaint about H1b abuse - this way everyone wins ... well, except the many H1b abusers.
