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20

Jun

2013

NVCA Releases Results from American Made 2.0 PDF Print E-mail

Jennifer Dowling

Written by Jennifer Connell Dowling   
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Today the NVCA released top level findings from our new report American Made 2.0: How Immigrant Entrepreneurs Continue to Contribute to the U.S. Economy. An update to the first American Made report which was issued in 2006, this study was commissioned by the NVCA and authored by Stuart Anderson who is the Executive Director of the National Foundation for American Policy, and the former head of policy at the Immigration and Naturalization Service. The full report, complete with case studies and a policy discussion, is being finalized and will be available in the next several weeks. We felt, however, that the study results would contribute to the immigration reform debate currently taking place in the Senate and decided to release these compelling findings.

You can review the data in the press release here but some important highlights include:

  • An increasing number of venture-backed public companies have immigrant founders. Of the U.S. venture-backed companies that became publicly traded between 2006 and 2012, 33 percent have at least one immigrant founder.
  • The value created to date by immigrant-founded venture-backed companies is extraordinary. Venture-backed, publicly traded immigrant-founded companies have a total market capitalization of $900 billion as of June 2013.
  • Immigrant entrepreneurs create jobs. Immigrant-founded venture-backed, public companies employ approximately 600,000 people worldwide, the majority in the United States.
  • A strong majority of today's venture backed company founders, both native born and foreign born, believe America's immigration system needs to be reformed. Ninety percent of both native-born and foreign-born company founders believe a start up visa category would benefit the U.S. economy. Two-thirds of immigrant entrepreneurs indicated that "[a] start up visa category would have been helpful when starting their company in the United States."

We will be sharing this data and the full report with both the Senate and the House of Representatives to demonstrate that immigrant entrepreneurs and high skilled professional are key to U.S. economic growth. Welcoming them to our shores through a startup visa category like the INVEST Visa, more H-1B visas, and an easier path to green cards for graduate students is the right solution. Passage of immigration reform is imperative to the future of America.

Thank you to all of our members who helped us gather input for this report by sharing our survey with your portfolio companies. Once again, your support made a difference and helped us tell our story.

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