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diggImmigrants power start-ups
In past 15 years, 25 percent of U.S. public companies backed by venture capital started by high-skill immigrants
During the past 15 years, 25 percent of U.S. public companies backed by venture capital were started by high-skill immigrants, according to a new study commissioned by the National Venture Capital Association.
The study, American Made: The Impact of Immigrant Entrepreneurs and Professionals on U.S. Competitiveness, looks at sectors in which immigrant entrepreneurs have had an impact and how the United States' legal immigration system plays a role in that activity.
The current market capitalization of publicly traded immigrant-founded companies with venture backing in the United States is $500 billion, according to the study. Some of the sectors in which these companies operate include high-technology manufacturing, information technology and life sciences. Major venture-backed public companies founded by immigrants, according to the study, include Intel, Sun Microsystems and Google.
The study makes the case for keeping an open legal immigration system in the United States, noting that few of the immigrant entrepreneurs surveyed came to the country with the intent of starting a company. For more, www.nvca.org.
