News Column

Study: 'America's New Immigrant Entrepreneurs'

Oct. 2, 2012
Hispanic businesswoman

A new study released Tuesday has found that around a quarter of all new technology companies started in the U.S. are founded by immigrants.

The study, entitled America's New Immigrant Entrepreneurs: Then and Now, found that the role of newcomers in Silicon Valley is even more pronounced than previously believed, with some 44 per cent of all tech start-ups in the country's high tech capital having at least one immigrant founder.

The study's co-author, Vivek Wadhwa of Duke University said that the findings should spur US legislators to encourage the immigration of highly skilled foreigners.

"The US risks losing a key growth engine just when the economy needs job creators more than ever," said Wadhwa in a statement. "The US can reverse these trends with changes in policies and opportunities, if it acts swiftly."

Wadhwa urged the creation of a startup visa for entrepreneurs and an expansion of the number of green cards granted to skilled foreigners to work in startups.

"Many immigrants would gladly remain in the United States to start and grow companies that will lead to jobs," Wadhwa said.

The study, which examined a random sampling of 1,882 of the more than 100,000 engineering and technology companies founded in the past six years, found that immigrants from India represented the largest group of foreign founders, at 33.2 per cent, followed by China (8.1 per cent), the United Kingdom (6.3 per cent), Canada (4.2 per cent), Germany (3.9 per cent), Israel (3.5 per cent), Russia (2.4 per cent), Korea (2.2 per cent), Australia (2.0 per cent) and the Netherlands (2.0 per cent).

For more stories covering the world of technology, please see HispanicBusiness' Tech Channel

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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