Indians are driving the US startup story: NFAP study
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India leading country of origin for immigrant-founded US startups
Immigrants have founded more than half of America’s startups valued at $1 billion or higher, with the highest number of such founders coming from India, a new study by the National Foundation for American Policy (NFAP) has revealed.
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Immigrants have fueled the rise in US billion-dollar startups
The research finds that 319 of 582 of America’s startup companies valued at $1 billion or more have at least one immigrant founder. In addition to the companies with immigrant founders, at least 51 of the 582 U.S. billion-dollar startup companies have founders who were born in the United States to immigrant parents.
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The 319 immigrant-founded firms are worth $1.2 trillion
The collective value of the 319 immigrant-founded companies is $1.2 trillion, which is more than the value of the companies listed on the major stock markets of many countries including the Brazil Stock Exchange ($925 billion), Madrid Stock Exchange ($727 billion), Singapore Exchange ($679 billion), Indonesia Exchange ($620 billion), etc.
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Immigrants on the top of the corporate ladder
Almost 80% of America’s unicorn companies (privately-held, billion-dollar companies) have an immigrant founder or an immigrant in a key leadership role, such as CEO or vice president of engineering.
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Substantial job creation
The research finds that the privately held US billion-dollar startup companies with immigrant founders have created an average of 859 jobs per company. The top three being: REEF Technology (15,000), Gopuff (15,000) SpaceX (12,000) as of May 2022.
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Four in 10 immigrant-founded unicorns are Indian origin
India leads in number of top 10 immigrant-founded multiple billion-dollar companies.
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SpaceX tops the valuation list
SpaceX tops the list of the US billion-dollar firms with at least one immigrant founder with the highest valuations. It is also one of the leading companies for employment among immigrant-founded startups in the US.
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India is the leading country of origin for immigrant founders of US unicorns
Immigrant entrepreneurs in U.S. billion-dollar startups come from diverse backgrounds, hailing from 57 countries. India, with 66 companies, is the leading country of origin for the immigrant founders of US billion-dollar companies. Immigrants from Israel founded the second-most billion-dollar companies with 54.
