Glittering univs are not churning gold

A majority of immigrants from India and five other nations who started one fourth of the technology and engineering companies in the United States in the last 10 years were not educated in elite institutions, says a study.

The findings were part of a new study conducted by researchers at Duke University and the University of California, at Berkeley, as a follow-up to a report released in January which showed that in 25.3 per cent of the companies started between 1995-2005, at least one key founder was foreign-born.

Nationwide, these immigrant-founded companies produced $52 billion in sales and employed 450,000 workers in 2005. The majority of these immigrant entrepreneurs came from India, Britain, China, Taiwan, Japan and Germany.

Highlights:

* More than half of the foreign-born founders of US technology and engineering businesses initially came to the United States to study. Very few came with the sole purpose of starting a company.

* Almost 40 per cent of immigrant founders entered the country because of a job opportunity, with only 1.6 percent entering the country with the sole purpose of entrepreneurship. They typically founded companies after working and residing in the United States for an average of 13 years.

* Technology centres with a greater concentration of immigrant entrepreneurs in their state averages include Silicon Valley (52.4 per cent), New York City (43.8 per cent), and Chicago (35.8 per cent). Three technology centres had a below-average rate of immigrant-founded companies: Portland (17.8 per cent), Research Triangle Park (18.7 per cent) and Denver (19.4 per cent).
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