If a company lands on the Fortune 500, there’s a good chance it has a founder who is an immigrant or the child of one. Forty-three percent of businesses that made the list in 2017 were immigrant-founded, according to a report from a brand-new entrepreneurship advocacy group.
The Center for American Entrepreneurship (CAE) launched in June, the same day that President Donald Trump’s administration tried to pull the plug on a policy that would allow foreign startup founders to spend several years building their companies in the U.S. On Friday, a judge overturned the delay, compelling immigration officials to begin accepting applications for the International Entrepreneur Rule.
National startup groups celebrated the ruling but it’s just the first step in a long journey. Creating an actual visa category for entrepreneurs is CAE’s goal and the impetus for the new report, which is an update of a 2011 study by the New American Economy.