Navigation Links
Immigrant Entrepreneurs Demonstrate Growing Contribution To U.S. Economy, Says American Made 2.0
Date:6/20/2013

Washington, D.C. (PRWEB) June 20, 2013

The National Venture Capital Association (NVCA) today released high level findings from a study that examines the contributions of immigrant entrepreneurs to the U.S. economy. American Made 2.0: How Immigrant Entrepreneurs Continue to Contribute to the U.S. Economy provides an update to a 2006 report and finds that immigrants are having an even greater impact on U.S. competitiveness today, despite high-skilled immigration policies that many believe harm job creation, innovation and capital creation. The analysis concludes the contributions of immigrants to the United States would be even greater if Congress adopted the right policies on startups and high skill immigration.

“As Congress debates comprehensive immigration reform, understanding the contributions of high-skilled, foreign born entrepreneurs to our country is imperative to ensuring meaningful changes to our system,” said Mark Heesen, president of the NVCA. “These individuals have founded many of America’s most successful companies, keeping jobs, market value and innovation here in the United States. Our policies must not only accept but welcome the next generation of immigrant entrepreneurs who are making even greater strides in starting and growing amazing companies.”

The full study, which will be available in its entirety in early July, was authored by Stuart Anderson of the National Foundation for American Policy, former head of policy at the Immigration and Naturalization Service, and commissioned by the NVCA. American Made 2.0 determined the nativity of the founders of U.S. venture-funded companies that became publicly traded both before and after 2006. In addition, privately-held venture-backed companies were surveyed for their views on current immigration policy and potential reforms to the immigration system.

Highlights from the study include:

An increasing number of public companies have immigrant founders. Of the U.S. venture-backed companies that became publicly traded between 2006 and 2012, 33 percent have at least one immigrant founder. These companies include well-known names such as Facebook, LinkedIn, Zipcar and Tesla Motors. This compares to 20 percent of venture-funded companies with an initial public offering prior to January 1, 2006. Before 1980, only seven percent of U.S. publicly traded venture-funded companies had an immigrant founder or co-founder.

The value created to date by immigrant-founded venture-backed companies is extraordinary. Venture-backed, publicly traded immigrant-founded companies have a total market capitalization of $900 billion (as of June 2013), an increase of approximately $400 billion since 2006 when the market value of these companies was in the $500 billion range.

Immigrant entrepreneurs create jobs. Immigrant-founded venture-backed, public companies employ approximately 600,000 people worldwide, the majority in the United States. Among the largest employers are Intel, Google, Sanmina, eBay, PAREXEL, and Yahoo!. Immigrant-founded companies that went public since 2006 employ 65,450 people, with annual sales of over $17 billion.

To provide greater insight into privately-held venture-backed companies, NVCA also sent surveys on immigrant entrepreneurs and immigration policy to venture capital members, which forwarded them to companies in which they have invested. NVCA received over 600 responses.

Of those surveyed, thirty-three percent of the entrepreneurs were foreign-born, with top countries of origin being India, the United Kingdom, Canada, France, Israel and Germany. Sixty-one percent of the privately-held immigrant-founded companies held one or more patents.

The survey results indicated that company executives believe America’s immigration system needs to be reformed. Among all private company founders, both native-born and foreign-born, 79 percent believed “The process for a foreign-born entrepreneur to enter and remain in the U.S. to start a business is too difficult.” Overall, 74 percent of companies agree “Current U.S. immigration laws for skilled professionals harm American competitiveness.” Finally, 90 percent of both native-born and foreign-born company founders believe a start up visa category would benefit the U.S. economy. Two-thirds of immigrant entrepreneurs indicated that “A start up visa category would have been helpful when starting their company in the United States.”

Under U.S. immigration law today, American employers can hire skilled foreign nationals on an H-1B temporary visa, but for more than a decade the supply of H-1B visas has been exhausted before the end of the fiscal year. Fifty-seven percent of the companies replied that “projects had been delayed because of the lack of H-1B visas.” Forty-three percent of the companies said the lack of H-1B visas influenced the company’s decisions to place or hire more personnel in facilities located outside the United States.

“The study demonstrates not only the contribution of immigrant entrepreneurs but also broad-based support from the entire U.S. start-up community for meaningful immigration reform that allows high skilled and entrepreneurial foreign born professionals to start and grow companies in America,” said Anderson. “If Congress enacts the solutions proposed by today’s cutting-edge companies – a startup visa category as well as more temporary visas and green cards for highly skilled foreign nationals -- then we are likely to see more jobs and innovations created in the United States.”

The full study, with more details on demographics and industry sectors as well as case studies, will be released in July 2013.

About the National Venture Capital Association

Venture capitalists are committed to funding America’s most innovative entrepreneurs, working closely with them to transform breakthrough ideas into emerging growth companies that drive U.S. job creation and economic growth. As the voice of the U.S. venture capital community, the National Venture Capital Association (NVCA) empowers its members and the entrepreneurs they fund by advocating for policies that encourage innovation and reward long-term investment. As the venture community’s preeminent trade association, NVCA serves as the definitive resource for venture capital data and unites its nearly 400 members through a full range of professional services. For more information about the NVCA, please visit http://www.nvca.org.

Read the full story at http://www.prweb.com/releases/2013/6/prweb10851379.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Immigrant women giving birth in Spain suffer great stress, a study warns
2. Green biased yellow fever swept through Irish Immigrants in 19th century US
3. Childrens health, access to care differ by parents immigrant status
4. Children of U.S. Immigrants May Have Academic Edge
5. Jamaican teen immigrants do better when they retain strong ties to original culture
6. Babies born to immigrant women in Ontario bigger than those born in their mothers native countries
7. GW launches center to address health disparities in the Latino immigrant community
8. Local Entrepreneurs Find New Landing Spot in the Center for Entrepreneurial Innovation at GateWay Community College
9. Young CEO Delivers Keynote Address to Inspire Collegiate Entrepreneurs at Regional Conference
10. Entrepreneurs Blog to Change the World, One Customer at a Time
11. Health and Harmony LLC Offers New Business Packages for Entrepreneurs
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/25/2017)... ... April 25, 2017 , ... As Spring reignites vigilance against ... related to Zika virus during pregnancy, as well as other prenatal exposures like ... , The Teratology Society is an international and multidisciplinary group ...
(Date:4/25/2017)... ... April 25, 2017 , ... Saad B. Chaudhary, MD is committed to providing the ... or chronic problems, I focus on preventative care with all my patients to alleviate possible ... questions, always feel free to contact my office and my trained staff will assist you ...
(Date:4/25/2017)... ... 25, 2017 , ... There is no better place in South Florida to ... in the May issue of Consumer Reports focused on heart health. , The ... during and after coronary bypass and aortic valve replacement procedures. , Consumer Reports ...
(Date:4/24/2017)... ... April 24, 2017 , ... Emmanuel College is introducing enhancements ... their careers. Beginning in the fall of 2017, Emmanuel’s program will allow registered nurses ... as 16 months and for as little as $14,528. These changes will enable nurses ...
(Date:4/24/2017)... ... 2017 , ... The Santana Telehealth Project was honored with the 2017 ATA ... Telemedicine Association’s annual conference, on April 23 in Orlando, FL. , “I am proud ... lives of the poor and underserved in other parts of the world,” said Jonathan ...
Breaking Medicine News(10 mins):
(Date:4/19/2017)... YORK , April 19, 2017 Cardiology devices ... the projected period The Cardiology Devices segment is ... than US$ 15 Mn in 2018 over 2017. By the ... a market valuation close to US$ 700 Mn, expanding at ... Devices segment dominated the Asia Pacific ...
(Date:4/19/2017)... , April 19, 2017 Global Surgical ... devices are tubes used to remove excess liquid and ... serum, pus, urine, bile or lymph. Surgical drains are ... surgery such as orthopedics surgery, cardiovascular surgery, neurosurgery, plastic ... prophylactic post-surgery to prevent accumulation of fluid e.g. blood ...
(Date:4/19/2017)... The Global Effective Microorganisms (EM) Market ... has covered and analysed the potential of Global Effective Microorganisms ... shares and growth factors. The report identifies and analyses the ... the global market. ... 152 Tables and Figures, 6 Major Company Profiles, spread across ...
Breaking Medicine Technology: