Immigrant Entrepreneurs, Part 2
One-quarter of the U.S. publicly traded, venture capital-backed companies started in the past 15 years were founded by immigrant entrepreneurs, according to American Made: The Impact of Immigrant Entrepreneurs and Professionals on U.S. Competitiveness, a 2006 national survey commissioned by the National Venture Capital Assn. The current market capitalization of these firms exceeds $500 billion, and they employ more than 220,000 people in the U.S. and 400,000 internationally. Immigrants have had the greatest impact in the fields of IT, life sciences, and particularly in the high-tech manufacturing sector, where 40% of publicly traded, venture-backed firms operating in the U.S. today were founded by immigrants. This week, Smart Answers profiles two immigrant entrepreneurs.
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