While traveling in Ireland recently, I was intrigued by an article in the Irish Times newspaper entitled, “Immigration policy must target entrepreneurship”. While one would first think this article is about Ireland targeting entrepreneurs through their immigration policy, a majority of the article referenced the environment for entrepreneurs in the United States. It stated that 52% of the start-ups in the Silicon Valley from 1995 to 2005 have been founded by immigrants. Also, 40% of Fortune 500 companies were founded by first-generation immigrants or their children.
Toward the end of the article was finally the point that Ireland should open the door to all of Europe and the rest of the world, inviting entrepreneurs from all over go there to start their businesses. While the United States is deciding what to do about immigration, other countries are poised to capitalize on our indecision and invite entrepreneurs in. Having an entrepreneurship strategy, and opening the door to skilled talent will boost economies wherever they land, according to entrepreneur turned academic, Vivek Wadhwa, who was interviewed for the article in the Irish Times.