A new study by the National Foundation for American Policy showed that immigrants were responsible for more than half of American startups that are valued at $1 billion or higher. Examples of such companies include:
- Uber – started by Garrett Camp of Canada.
- App Dynamics – Jyoti Bansal of India
- Space Exploration Technologies Corp – started by Elon Musk of South Africa.
- Zoho Corp – Sridhar Vembu of India
It examined 87 US companies that are valued at $1 billion or more, and found that 44 of these companies were started by immigrants. A split up of these numbers show that 14 are from India, eight are from Canada and the UK, seven are from Israel, four are from Germany, two are from France and one from Ireland.
This study is interesting as it brings up the importance of immigration to the American economy. Though there is much skepticism about immigration and visas, this study proves that free and open immigration is essential for the continued dominance of American economy in the world. An open immigration policy is even seen as the need of the hour, and this is why many business leaders like Mark Zuckerberg and Bill Gates continue to push for it.
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