In cutting edge start-ups, immigrants dominate management ranksPublished: Thursday, December 22, 2011 9:00 am
December 22, 2011. December 22, 2011. According to a new study by the National Foundation for American Policy (NFAP), immigrants have started nearly half of America’s 50 top venture capital-funded companies and are key members of management or product development teams in almost 75 percent of those companies.
In the course of its research, NFAP looked closely at the Top 50 venture-funded companies in a list published by the Wall Street Journal in March 2011. The most common country of origin for an immigrant founder of a top 50 venture-backed company was India, followed by Israel, Canada, Iran and New Zealand.
NFAP argues for immigration reform to de-emphasize from the amount of capital a foreign enpreneur invests or raises. This move “conforms to today’s reality of how businesses get started. The average entrepreneur starts his or her company with only about $31,000, according to the Kauffman Foundation.”