Agreed; unfortunately, the people that will immediately imagine hordes of terrorists entering the country pretending to be entrepreneurs form a significant portion of the electorate.
I'm pretty pro-immigration in general, but wouldn't it be more direct to just greatly increase the immigration quotas, rather than making people go through the charade of pretending to have a business plan? Either that, or if you want to insist that it be a real business plan and not a charade, you need someone to vet them.