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A recent report by the National Foundation for American Policy (NFAP) has revealed that Indian immigrants to the US have contributed to the founding of almost 50 percent of the top level venture-backed companies in the United States.
Research was undertaken on each of the companies in the top bracket of venture-backed businesses. Immigrants were interviewed and relevant data was obtained on each company.
A further analysis of the results showed that the majority of the American visa holders came from India, Israel, Canada, Iran and New Zealand (in that order). Furthermore, immigrants were not just restricted to entry level positions; many were employed as CEO, vice-president or in various influential positions. A company that had been founded by an immigrant had created, on average, 150 jobs.
The findings indicate that immigrants are not just interested in a work permit and a country to settle in, but are keen and determined to shape the entire American business landscape. This corroborated with a 2008 report from the Small Business Administration (SBA), which declared that immigrants were almost 30 percent more likely to form their own businesses, as opposed to non-immigrants.
The NFAP believe that there should be greater availability of immigrant visas. NFAP welcomed the recent passing of a new act that will see the number of employment-based visas increased.
Mark Heesen, executive director of the National Venture Capital Association, feels that there are still too many obstacles for immigrants.
"The characteristics of immigrants are extremely entrepreneurial," he said. "It's interesting how many obstacles they have to overcome."
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