Yes, an F-1 student can start and own a company in the United State and it theoretically is possible the company will sponsor the F-1 student as an H-1B worker. USCIS will require proof that the student’s company is able to pay the H-1B holder, the prevailing wage, also that there is a real business need to hire this specific H-1B employee and that there is a real employer/employee relationship in as much that the H-1B worker could be fired – which may be hard to prove.