New York: India has topped a ranking of 76 countries, with immigrants of Indian origin founding 96 billion-dollar startups in the United States, according to a new analysis by the National Foundation for American Policy (NFAP).
The report found that Indian founders account for more than one-fifth of immigrant-founded billion-dollar startups in the US. Immigrants from Israel founded the second-most billion-dollar companies with 60, followed by the United Kingdom (47), China (41), and Canada (30).
The report mentions that immigrant entrepreneurs who created these companies entered through nearly every part of the immigration system—as refugees, family-sponsored and H-1B visa holders who became employer-sponsored immigrants, reflecting the essential contributions of immigrants to America.
The analysis highlights the essential role being played by immigrants in the growth story of America and the innovative and startup ecosystem, at a time when the stance of immigration is getting hostile, with an uproar on the H-1B visa and immigrants, in general.
According to NFAP analysis, the collective value of the 455 immigrant -founded billion-dollar companies is $5.0 trillion, which is more than the total market value of companies listed on stock markets in all but 7 countries, including the United Kingdom, Germany and Saudi Arabia.
NFAP has identified at least 15 immigrants who have founded two or more billion-dollar companies—Noubar Afeyan (Lebanon), Mohit Aron (India), Jyoti Bansal (India), Ashutosh Garg (India), Al Goldstein (born in Uzbekistan), Michael Gronager (Denmark), Arvind Jain (India), Ignacio Martinez (Spain), Elon Musk (South Africa), Sachin Nayyar (India), Christopher Ré (France), Ajeet Singh (India), Ion Stoica (Romania), Ilya Sutskever (Canada) and Vlad Tenev (Bulgaria).
Six of the 15 were born in India before immigrating to America. Not just the wealth creation, but immigrant-founded unicorns also led in job creation.
