Apparently, according to a recent survey report, 47% of current venture backed start-ups have immigrant founders. I knew that immigrants had a significant impact on the American economy. But this is probably the first time I am seeing numbers on this. Wonder what makes people perform better outside of their home countries?
The survey apparently found that 25% of venture-backed, public companies that were established in the last 15 years were started by one or more immigrant founders. Within the high technology sector, that percentage rises to 40%. The aggregate market capitalization of these companies, which includes Intel, Google, Yahoo!, Sun Microsystems and eBay, exceeds $500 billion. The study also found that immigrant founders are responsible for building a high percentage of the most innovative American companies, with 87% operating in sectors such as high-tech, manufacturing, information technology and life sciences. These companies are headquartered across the country but are concentrated in five states: California, Massachusetts, New Jersey, Washington and Texas.
Fifty-six percent of the emerging companies founded by immigrants were headquartered in California, followed by Massachusetts and New York. Sixty-two percent of the companies were in the high technology or life sciences sectors. India was the most prevalent country of origin with 28% followed by the United Kingdom (11%), China (5%), Iran (4%), and France (4%).
Interesting… isn’t it? Download the full report here.