U.S lawmakers can argue about the effect of immigration on their country’s economic change, but one cannot overlook the contribution of these foreign-born leadership in entrepreneurship and innovation.
A new study from the National Foundation for American Policy reveals that US immigrants started more than half of the current US-based startups valued at $1 billion and more. These 44 companies, the study says, are collectively valued at $168 billion and create an average of roughly 760 jobs per company in the U.S. The study also estimates that immigrants make up over 70% of key management or product development positions at these companies, WSJ reports.
Let’s have a look at the top 10 most renowned companies founded by immigrants.
Pepperfry, one of the leading online furniture retailer companies in India, raised a whooping USD 100 million as their fourth round of investment from Goldman Sachs, Zodius Technology Fund, and their existing investors Bertelsmann India Investments and Norwest Venture Partners.
It was 2:40 am on a warm San Francisco night. Sarvshreshth Gupta called his father, sitting thousands of miles away in New Delhi, India. “It is too much. I have not slept for two days. I have a client meeting tomorrow morning, I have to complete a presentation, my V.P. is annoyed and I am working alone in my office,” he said. His father was understandably concerned. Sarvshreshth was working as an Analyst at Goldman Sachs, and had recently been complaining about his workload.