Immigrants are responsible for more than half of U.S.-based startups (44 out of 87) valued at $1 billion or more, according to a new non-partisan study on entrepreneurship by the National Foundation for American Policy (NFAP). According to the study, the 44 U.S.-based startups valued at $1 billion or more that were founded by foreign nationals have a collective value of $168 billion and create an average of 760 jobs per company in the U.S.
The study’s author, Stuart Anderson, stated the findings indicate the U.S. economy could benefit from liberalizing the work visa process for foreign-born workers. Major technology leaders like Mark Zuckerberg and Bill Gates agree with Mr. Anderson. They call for an increase in the annual cap on H-1B visas Congress allocates per year.