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FundersClub Survey Shows How Immigrants Create Jobs Through Startups

Curtis Silver
This article is more than 3 years old.

If there is one tech haven that truly appreciates the value of seeking talent from around the globe it's Silicon Valley. This constant hive of American innovation has relied not only on American ingenuity to sprout the tech giants we manage our lives with, but the intelligence and work ethic of immigrants from around the world.

This past weekend has led to a good deal of introspection in the Valley, from tech giants to investment firms. FundersClub, a collection of startup founders, investors and operators backed by venture capitalists and angel investors has taken a closer look at its own legacy to prove the impact of immigrants and the jobs they create, not take.

Fundersclub's portfolio includes startups such as Coinbase, Instacart, Teespring, Slack and many more. The gist of its report is that each first generation immigrant FundersClub founder creates 159 jobs in the United States. Overall, FundersClub immigrant founders (first and second generation) hail from 26 different countries and have started companies that have created an aggregate 7,632 jobs. This isn't over decades, this is within the last five years. FundersClub has a fairly young portfolio.

This is a snapshot survey report, 82 founders replied and 39 of those were first or second generation immigrants. Regardless, even with only a 24 hour survey window the impact is felt. Immigration is important to maintaining technology growth in America, shutting down our borders would eventually stifle growth. The tech world knows this and is responding.

Apple, Google, Facebook and Microsoft are meeting in the tech giant clubhouse to formally oppose the immigration restrictions implemented by President Biff within the executive order signed this past weekend.

This executive order was signed without thought to the repercussions to jobs and families, it was then hastily implemented -- an order that effectively sent the immigration status of many people into absolute chaos. America was founded by immigrants (though, brutally displacing the native population) and has grown through its ability to remain a melting pot for the world. Now, in the 21st century, immigrants come here not to destroy the country they love before setting foot here -- but to work their asses off for it.

"The United States has prospered for centuries on the strength of the people who have sought this place out, and arrived here, often arduously, via boat, flight and foot," states the FundersClub release. "Immigrants’ contributions to the tech ecosystem have helped the United States economy remain far more buoyant in recent years than those of other developed countries. This human capital edge has always been one of the main differences between the United States and the rest of the world."

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