Undertaken by National Foundation for American Policy, a research group, the study reiterates an immediate need for requisite reforms in the US immigration rules.
More immigrants mean more jobs in the US--The study further states that immigrants coming to the US help in generation of new jobs in the nation. So, the US needs to change rules to help an increased number of foreign entrepreneurs come and begin new businesses here.
Only such a step can prove to help give a much needed job boost to the US economy.
The study has highlighted the role of immigrants in the US economy. It said nearly half of US top 50 venture-funded firms were started by immigrants. Out of 50 top venture-funded companies in the US, 23 were the brain-child of immigrants.
Moreover, immigrants occupy key management or technological roles in nearly 75 percent of such firms. And around 37 percent of such companies have at least one foreigner in a key management position.
According to president of the National Venture Capital Association, Mark Heesen, the US economy is suffering due to its poor immigration system. The US immigration system is full of flaws and is in dire need of significant changes. Only then can the nation surge ahead in the global market, he asserted.
India among major source of immigrant founders in the US—Interestingly, India happens to the major source of suppliers of foreign founders apart from Canada, New Zealand, Israel, Iran and New Zealand.
Some of the biggest start-ups in Silicon Valley including Etsy (an online craft marketplace) and several Indian-founded firms have immigrant founders behind them.
Companies founded by immigrants in the US create around 150 jobs on an average, the study findings show.
And this is a vital point in solving the unemployment crisis currently engulfing the US, the findings point out.
US Startup Visa 2011—Any immigrant entrepreneur will be allowed to get a two-year US Startup Visa provided he is ready to make investments in their start-up venture in the US. It will control the outflow of talented and wealthy foreign entrepreneurs from the US and will aid the cash-starved US economy.