Posted by Mindee Forman at 12:21 PM in Blogging, Economic Growth, Entrepreneurs, Global, Human Capital, Immigration, Law and Entrepreneurship, Policy, Practically Friday, Research, U.S. economy | Permalink | Comments (0) | TrackBack (0)
Posted by Mindee Forman at 08:58 AM in Blogging, Economic Growth, Economic Recovery, Entrepreneurs, Global, Human Capital, Immigration, Law and Entrepreneurship, Policy, Practically Friday, Research, U.S. economy | Permalink | Comments (0) | TrackBack (0)
A 2007 study by Vivek Wadhwa et al. looked at the proportion of high-tech startups founded from 1995 to 2005 that had at least one key immigrant founder. The methodology has been replicated to look at high-tech startups founded between 2006 and 2012 and has resulted in a new report released today (report here; press release summary here). I'm travelling at the moment and have not had much time to review but the key finding is a slight drop. 25.3 of high-tech startups had at least one key immigrant founder in high-tech startups from 1995 to 2005; the stat is now 24.2 percent for startups founded from 2006 to 2012. This is more pronounced in Silicon Valley, where the drop went from 52.4 to 43.9 percent, which I imagine will be big news, but I'll part with the reminder to everyone that entrepreneurial activity does happen outside of California.
If you check out the press release, you'll see that Vivek Wadhwa also has a new book with an online resource, http://immigrantexodus.com/.
To quote a couple of colleagues at Kauffman, it appears as though 2013 will be a year of (deservedly) heightened focus on high-skill immigration and entrepreneurship.
The National Foundation for American Policy released a new report today on immigration policy (funded by the Kauffman Foundation). Wait times for EB-1 visas may be developing, which previously had no backlog. For EB-2 visas, immigrants from countries other than India and China (who already have a backlog) will also see wait times develop. It's pretty simple: demand greatly exceeds the quotas set for each year, and demand is increasing.
High-skilled immigrants are good for America:
Some have argued that providing green cards to highly skilled foreign nationals harms the job prospects of Americans. However, that argument ignores that skilled scientists, researchers and professionals help create more jobs and innovations. Moreover, such individuals are hired as part of the normal recruitment process, complementing, not replacing, Americans.
The importance and benefits to the U.S. of high-skilled immigrants is uncontroversial at the Kauffman Foundation. Reform of the system is clearly needed. Something about immigration policy reform was featured in the Foundation's Startup Act white paper, and has made its way into the Startup Act 2.0 legislation currently under consideration in both houses of Congress.