A recent study by the bipartisan think-tank, the National Foundation for American Policy, highlights the importance of immigrants to the American economy. The study found that 44 of 87 startups in the U.S. that are valued at $1 billion dollars or more were started by immigrants.
Additionally, immigrants held key roles in the management or product development teams of more than 70% of these highly-valued startups. These companies have created approximately 760 jobs each in the U.S. Chief Executive Officer, Chief Technology Officer, and Vice President of Engineering are the most common key positions held by immigrants in these high-value startups. Interestingly, nearly 25% of the billion dollar startups in the U.S. had a founder who originally entered the U.S. as an international student. Of the billion dollar startups with an immigrant founder, nearly half of those founders originally entered the U.S. as an international student.
These statistics underscore the importance of encouraging the best and the brightest to come to the U.S. to study, live, and work. Making it more difficult to do so only encourages potential entrepreneurs to take their ideas, drive, and hard work elsewhere. If you need advice on health and safety policy for small business, check out Avensure’s services.
Contact Rose Immigration Law Firm, PLC, to explore your visa options today.
Read the study, “Immigrants and Billion Dollar Startups,” at National Foundation for American Policy.
See also NBC Nightly News coverage at Over Half of $1 Billion Startups Are Founded By Immigrants.