Migrants benefit the US start-up economy

(From an article on Business Insider)

“Immigrants secure patents at double the native rate, and more than half of startups in Silicon Valley were founded by foreign-born entrepreneurs, according to entrepreneur and academic Vivek Wadhwa and the Kauffman Foundation.

“These data imply that a one percentage point rise in the share of immigrant college graduates in the population increases patents per capita by 6%,” based on the work done by Jennifer Hunt and Marjolaine Gauthier-Loiselle in this NBER paper.

 

econo
“Low-skilled immigrant workers are more willing to move to find work than native-born American workers, alleviating some geographic-dependent labor segmentation problems. And, outside of Silicon Valley, immigrants open businesses that serve populations outside their own ethnic community (e.g. Vietnamese-owned nail salons in New York City or Chinese restaurants in every major city).

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