Friday, July 15, 2011

25% of Start-up Firms: Immigrants at work

Foreigners in the US are responsible for nearly 25 percent of start-up American firms, findings of a latest research by Harvard, NYU and Duke, UC-Berkeley reveal.

No wonder, several policy makers are being asked for increasing the quota for highly skilled worker visas in the US.

As per the study, out of the total start-up companies established between the year 1995 and 2005 in Silicon Valley, nearly 52 percent were by foreigners.
And the number of patents filed by immigrants in the US for the same period is said to be 25.6 percent which is up by 337 percent since the year 1998.

Its not just in the US that the immigrant investors have been found to be making significant contribution towards start-up firms, in fact, foreigners seem to be leading in investments in several other nations too including Canada.
According to reports, a Vancouver entrepreneur group has been asking the federal government for starting ‘startup visas’ for foreign investors wanting to come and invest in Canada.
In a similar move, the US government is being asked for creation of a US startup visa and the bill is being sponsored by US Senators Richard Lugar, Republican of Indians and John Kerry, Democrat of Massachusetts.

The bill will provide any foreign entrepreneur a temporary US work visa if he obtains a minimum amount of $100,000 for investment for gaining US permanent residency.
In addition, the immigrant entrepreneur will also be responsible for creating at least five new jobs in the US in the period of two years, generate venture capital exceeding $1 million or $1 million sales each year.
Such changes in the federal policy of the US which favor potential foreign entrepreneurs would lead to growth and innovation in the US, agree several experts including a law professor at Yale University, Peter Schuck, and corporate secretary and vice president of the Ewing Marion Kauffman Foundation, John Tyler.

Several nations like Australia, Germany, the UK and some other European nations already have changed their immigration process in order to allow foreign immigrant investors and high-skilled immigrants into their nations.

1 comment:

  1. How you said Foreigners in the US are responsible for nearly 25 percent of start-up American firms, I am not agree with this. you share more detail of its.

    Olathe immigration law group