Indian immigrants are a significant driving force behind the creation of new engineering and technology companies in the United States in the past decade than their counterparts from the UK, China, Taiwan and Japan put together.
Of an estimated 73-hundred US tech startups founded by immigrants, 26 per cent have Indian founders, CEOs, presidents or head researchers, a new study says.
"Indians have beaten the Chinese in start-up hotbeds like silicon valley with a share of 15.5 per cent, up from 7 per cent between 1980 to 1998, " says the study, "silicon valley`s new immigrant entrepreneurs", by researchers in the Master of Engineering Management Programme at the Pratt School of Engineering at the Duke University.
The study, which covered 28,766 firms with annual sales of more than USD 1 million and 20 or more employees, comes nearly eight years after an influential report from the University of California, Berkeley, on the impact of foreign-born entrepreneurs.
"This study shows the tremendous contribution immigrants in general and Indians in particular are making to the US economy and global competitiveness. This is a win-win for America and for the immigrants that make it here", Vivek Wadhwa, Delhi-born Duke`s Executive in residence and the founder of two tech start-ups in North Carolina`s Research triangle told.
Wadhwa, Project`s Lead Researcher, stressed that "the country should make the most of its ability to "get the best and brightest from around the world." Israeli company to invest USD 330 mn in Indian real estate.