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Two recent working papers — The Impact of High-Skilled Immigration on Regional Entrepreneurship from Columbia University and Getting Schooled: The Role of Universities in Attracting Immigrant Entrepreneurs from the Philadelphia Federal Reserve Bank — explore the impact of high-skilled immigrants on entrepreneurship and how universities attract immigrant entrepreneurs. Both papers find that high-skilled immigrants have a positive net effect on regional entrepreneurship and are critical to the entrepreneurial ecosystem.

Adding to the national debate regarding U.S. immigration policy, the Center for American Entrepreneurship (CAE) reviewed the 2017 Fortune 500 list, finding that 43 percent of the companies were founded or co-founded by a first or second generation immigrant. Those companies account for 52 percent of the top 25 firms, are headquartered in 33 different states, and accounted for $5.3 trillion in global revenue in 2016, the CAE analysis found.

On the heels of delaying the International Entrepreneur Rule (IER), the White House has endorsed a bill that would grade candidates for immigration. A total of 60 organizations, including SSTI and many of our member organizations, stated their opposition to the move in a new letter. It is not clear why the IER’s standard of investible businesses would not fit into the legislation’s merit-based system.

Although much has been written on the value of immigrant entrepreneurship, relatively little research to date focuses on strategies for supporting these individuals. Welcoming America, a national nonprofit and non-partisan organization focused on immigrant inclusion, has addressed this gap by releasing a how-to-guide for those interested in supporting immigrant entrepreneurship in their cities. Produced with Global Detroit, an initiative focused on southeast Michigan’s international community, Seeds of Growth describes practical ways for regions across the nation to leverage opportunities associated with including immigrant entrepreneurs in local economic development strategies and programs.

Immigrant entrepreneurs would be allowed to remain in the United States for an initial period of up to two years, and, conditional upon meeting certain benchmarks, could potentially stay in the country for one additional period of up to three years under a newly proposed rule by the U.S. Citizenship and Immigration Services (USCIS) branch of the U.S. Department of Homeland Security (DHS). As part of the International Entrepreneur Rule, which is now open for a 45-day comment period, certain international entrepreneurs would have an opportunity to start or scale their businesses in the United States. In an official blog post by White House Office of Science and Technology Policy Deputy Director for Technology and Innovation Tom Kalil and Assistant Director for Entrepreneurship Doug Rand, the authors note that the new reform would propose clear criteria to identify those entrepreneurs with the potential to provide significant public benefit to the United States. Evaluating entrepreneurs on a case-by-case basis, the proposed rule would consider factors such as: the entrepreneur’s ownership stake (at least 15 percent) and leadership role in the startup; the growth potential of the startup; competitive research grants of at least $100,000 from federal, state, and local government agencies provided to the firm; and the investment of at least $345,000 by qualified American investors.

Earlier this month, SSTI highlighted recent research from the Information Technology and Innovation Foundation (ITIF) that detailed the critical role immigrants play in developing some of the most notable innovations in the U.S.