Immigrants were responsible for founding more than 50% of the 87 start-up companies in the US, which have a value of over a billion dollars two years ago, a National Foundation for American Policy study has revealed, with over 17,000 people employed in the 11 biggest firms.
The Trump administration has been considering canceling a US visa from the Obama era, which helps entrepreneurs from overseas to begin new companies in the US. But, President Donald Trump and other immigration hardliners believe that such jobs are taking away employment from American workers, in spite of the contribution immigrants make to the country, not just to the economy but also by creating new employment opportunities.
20 of the 44 immigrants who helped with the founding of the billion-dollar start-up companies in the US came to the country as international students. In 2017, the number of international students coming to study in the US fell by as much as 17%, partly because of the 28% fall in the number of US visas given out to Indian students.
14% of the immigrant entrepreneurs came from India, eight from Canada and the United Kingdom, as well as seven from Israel, four from Germany, three from China and France, and two from Ireland. According to a study from late 2017, 43% of Fortune 500 firms were also founded either by immigrants or by the children of immigrants.