More than half of million dollar companies are founded by immigrants

Half of startups worth $1 billion or more in the U.S. were founded by immigrants, and laws should make it easier for would be entrepreneurs to enter the country, says a group which recently released research on immigrants and the economy.

A study released by the National Foundation for American Policy, a non-partisan organization which does research on trade and immigration, found that immigrant entrepreneurs started 44 $1 billion startups, which comes out to about 51 percent of the companies surveyed.

Stuart Anderson, the Executive Director of NFAP and writer of the report, said immigrants also hold management and product development positions in as many as 71 percent of startups worth more than $1 billion.

Anderson said the cap on H-1B hinders potential entrepreneurs from creating jobs, and measures like S.2394 introduced by Sen. Ted Cruz (R.-TX) in December would make potential immigrants work abroad for 10 years post-degree to apply.

Large group of people full length isolated on whiteThe report calls for, "a startup visa to enable foreign nationals who start companies and create jobs would be an important addition to the U.S. immigration system."

"What's interesting about this is that not only that half had immigrant founders, it's that most of the companies have immigrants in key positions," Anderson said. "Even if an immigrant isn't the founder, they have a Hola! 511 ECONOMY 3comparably high position that drives innovation and creates jobs for Americans."

The U.S. Citizenship and Immigration Services issues 65,000 H-1B visas per year.

"The results show that immigrants make many important contributions to the U.S. economy and job creation, and would make even more with intelligent reforms to the legal immigration system," Anderson concluded.
NBC News

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  • noh1bvisas

    more drivel and lies from big tech. NONE of these were founded by an h1b.

    Vinod Dham:- Father of the Pentium – came to the US LONG before there was such a thing as an h1b. he was part of a team. lie revealed.

    Elon musk:- Founder of Tesla – Canadian born in south Africa. became a US citizen LONG before the h1b. lie revealed.

    .

    Jerry Yang – Co-founder, Yahoo! – Yang was born in Taipei, Taiwan on November 6, 1968, and moved to San Jose, California at the age of ten with his mother and younger brother. lie revealed.

    .

    Vinod Khosla – Co-founders, Sun Microsystems – graduated from a US university in 1980. LONG before the h1b. lie revealed.

    .

    Andrew Grove – Co-founder, Intel – refugee who arrived in America in 1957. LONG before the h1b. lie revealed.

    Sergey Brin -Co-founder, Google – .Brin immigrated to the United States with his family from the Soviet Union at the age of 6. lie revealed.

    .

    there are almost one MILLION active h1bs in the US right now. you can’t find ONE example?

  • John80224

    I don’t have the time to explain just how many ways this cannot be trusted. I’ll boil it down to Stuart Anderson’s studies ALWAYS point to what they were first paid find and his definitions are VERY far from what they appear to mean.

    If one were to actually read and consider the study, it would demonstrate that immigrants are underperforming their representation in founding these “unicorn” startups.

    I’m actually not against immigration, but Anderson’s brand of it and (at best) half truths to trick you into it are laughable.

  • John80224

    Also, of this crafty little lie of a study, the second biggest immigrant (IN PART) founded “success” is an offshore outsourcing company that barely hires any domestic workers though you can be sure the company leads to displacing many. #3’s 20% immigrant founding arrived as a toddler (1 year old), #4 doesn’t actually seem to have an immigrant founder and the immigrant CEO arrived at the much older age of five.
    This is always unicorns and daisies until you pull back the cover, eh?