Ask HN: Foreign founder for ITAR-bound startup (nanolauncher)?

He co-founded previously a startup which worked on a small satellite rocket, which eventually folded. Now he wants to create a company in USA given that it's a better VC and overall environment.

To stay into USA he has to apply for visa, and he may possibly qualify for O-1 (exceptional abilities) with his previous experience. However ITAR (International Traffic of Arms Regulations) prohibit him working on aerospace projects if he doesn't at least have GC (green card). With O-1 he'll have to work on something in USA, but can't work directly on aerospace projects. This could take some time, and one may wonder what VC would think about investing into a company with such a founder.

Wonder what HN community would suggest in this situation? Is it feasible to get funding when O-1 and GC processing are ahead (time and money) and ITAR restrictions forbid direct work on the startup product?