The T(IIT)ans of Silicon Valley

Paul Sakuma / AP file

According to a Duke University study out today, immigrants are the driving force behind many of the country’s successful technology companies.

In 2005, immigrant entrepreneurs’ companies created 450,000 jobs and generated $52 billion in sales, says the report. 25 percent of technology and engineering companies launched over the past decade had “at least one senior executive…born outside the United States.”

During that time, roughly 7,300 startups were founded by immigrants. Of them, 26 percent have “Indian founders, CEOs, presidents, or head researchers.”

Most are IIT-grads.

Vivek Wadhwa, Duke affiliate and founder of two successful tech startups homself, says the 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.”

January 4, 2007
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