The crucial entrepreneurial role immigrants play in the economy is something I’ve touched on a number of times before. For instance, I wrote recently about the importance of immigrants for jobs after new research from Kellogg School of Management showed that immigrants actually create a huge number of jobs by virtue of their entrepreneurial abilities. Wharton research further elaborates on this point by pointing out that immigrant founders not only create jobs but also bring considerable finance with them. The authors state that cross-border VC investment is now at record levels, with this in large part due to the increasingly international nature of entrepreneurship. It’s perhaps no surprise, therefore, that recent research from MIT’ CSAIL lab has shown that while American continues to lead the way in the development of artificial intelligence, much of the actual breakthroughs are driven by foreign-born scientists.
Adi Gaskell, Forbes, September 16, 2021
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