Role of immigrants in U.S. business innovation

In 2022, 55 percent of the startup companies in the United States valued at over $1 billion had been founded by immigrants, for a total of 319 companies with a collective value of $1.2 trillion. Among more established technology companies, 60 percent of the top 25 firms were founded by immigrants or Americans with at least one immigrant parent; just under half of Fortune 500 companies were founded by immigrants or their children. One-quarter of the aggregate economic value created by all patents filed between 1990 and 2016 was generated by patents filed by immigrants.

From “Why Bringing Jobs Back to the United States Requires Letting in More Foreign Workers,” By Devesh Kapur and Milan Vaishnav. Foreign Affairs.

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