Picture the founders of any big-name tech company in the U.S. and you’ll probably think of Twitter’s Biz Stone, or Apple’s Steve Jobs, or Bill Gates from Microsoft.
In other words: white American men.
But a report released this month reveals that 16 percent of high-tech, “high-impact” companies are founded by immigrants.
The study, commissioned by the self-proclaimed “business watchdog” Office of Advocacy of the U.S. Small Business Administration, is significant for a couple reasons. For one, consider the term “high-impact,” which describes firms with sales that have at least doubled over the most recent 4-year period, with notable employment growth. These aren’t fledgling gadget companies with no hope for survival.
Even more importantly, the research underlines the vital role U.S. immigration policy plays in entrepreneurialism — particularly in light of growing competition from emerging economies like China. As the study points out, immigrant entrepreneurialism isn’t just on the rise, it’s driving job creation in a key industry and growth in the U.S. economy.
But immigration policy has some cracks in it, and it could be costly. Says the study:
“Even those individuals who have a reasonable prospect of extending their stay in the United States may lack the certainty that they will be here long enough to be able to reap the benefits of taking the entrepreneurial ‘leap’ because of the way the immigration system handles their cases. As a result, their potential entrepreneurial contribution to the nation may be lost.”
One final note about immigrant entrepreneurs, lest anyone think they’re swooping into the U.S. to make a fortune before they fly the coop: a big chunk of them have been in this country for two decades or more, more than three-quarters of them are U.S. citizens, and two-thirds of them received undergraduate or graduate degrees in the U.S.
Is the U.S. doing enough to foster entrepreneurialism? Share your thoughts below.
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[...] Reuters: Picture the founders of any big-name tech company in the U.S. and you’ll probably think of Twitter’s Biz Stone, or Apple’s Steve Jobs, or Bill Gates from Microsoft. [...]
- Posted by Immigrants: The New, High-Tech Entrepreneurs - Business Opportunities WeblogHugh
My children mingle with all colors, do sleepovers and have fun and go to Hollywood movies like any other american kid whole nine yards. ….Not all is gloom and doom. We the Parents learn american accent from our kids more than from our colleagues.(in turn we teach them vocabulary!).Up front I want to say I have loads of good words for USA. (Responding to some posts, here, I am likely to look otherwise.)
The first generation immigrants pay a lot in living the ordeal of becoming perm residents as amply explained by others. They simply lost the ability to mingle beyond a point and worse, they forgot to enjoy life in general. They don’t know skiing, foot ball or the partying culture. I must say, almost all of them encourage their children to join their school mates without any insulation. No parent tells children that whites, blacks and Hispanics are bad. There are some practical issues which may impede the spirit of assimilation. Places of worship, movies / cultural events and a overall soft corner one harbors for ones nation of origin binds the first generation immigrants on a social level. I have a Russian friend, doing fine here, but misses Russia deep down he complains. Another first generation case.
- Posted by bharatSome bloggers with typical indian screen name accused of( indias) bias. Either they just forgot to see the ground reality or simply they refuse to realize the truth about contemporary India. Iam sure, they don’t even know the prime minister of India or sonias background or her son in laws faith.Mayawati and Narendra Modi and half a dozen other chief ministers belong to the deprived castes. Aandhra (Tirupati), tamil nadu and rajastan states s have made people of all castes (including dalits) train as Pujaris thru their respective universities and placed them in temples. Not watching news? Shocked? Yeah well. Its not a walk in the park back in India.
USA is lagging behind India in its ability to implement affirmative action to its minorities. BY excluding all the Asian kids across the board they have deprived all minority religions to enjoy benefits of the policy. Iam given to understand that only Hispanics and African americans get to enroll in the affirmative action plan (if am I wrong-please tell me so).
Agree a careful evaluation of immigration policy will be supported by all, including trimming the influx, provided all bias is eradicated. A national debate is welcome.
People who are under the impression that H1B workers are driving unemployment rates up have their facts messed up. Do you know that h1B workers amount to 0.28% of the workforce? We are none different than any American Citizen. The only difference being that we can’t vote. We pay our taxes, abide by the same rules. I have been in this country for the past 15 years, & I consider this my home. It would be tragic if I have to head back home since I’m so used to the American way of life & I love it. The immigration policies are another matter
- Posted by Debasish