Source : The Economic Times Network,www.economictimes.com
Dated : 16/11/2006
Indian immigrants to the US account for 28% of all foreign-founded private start-up companies in a climate dominated by immigrant entrepreneurs, according to a new study on the hot-button issue.
The study found that over the last 15 years, immigrants have started one in four (25%) US public companies that were venture-backed, representing a market capitalisation of more than $500 billion.
Topping that, a survey of private, venture-backed start-up companies in the US estimated that a staggering 47% have immigrant founders.
In that group, “India was the most prevalent country of origin with 28%, followed by the United Kingdom (11%), China (5%), Iran (4%.) and France (4%.),’’ the study says. No numbers were given for public venture-backed firms, but even in that category, “the most common countries of origin are India, Israel and Taiwan’’.
The findings back the long-held view, based on more limited surveys in Silicon Valley, that Indian immigrants are a significant force in Americans’ start-up culture. Indians have been founding companies in the US outside the Bay area for decades, going back to Amar Bose’s Bose Corp in Massachusetts and the Suhas Patil-founded Cirrus Logic in Utah.
The study also found that immigrant founders are responsible for building a high percentage of the most innovative American companies, with 87% operating in sectors such as high-tech manufacturing, infotech and life sciences.
Global Indian Takeover :