Wednesday, August 22, 2007

Innovating stupidity

Tougher US immigration leading to 'reverse brain-drain': study - Yahoo! News: "'The United States benefits from having foreign-born innovators create their ideas in this country,' said Vivek Wadhwa, a Harvard Law School fellow and co-author of the report. 'Their departures would be detrimental to US economic well-being.' The study by researchers at Duke, New York and Harvard universities is the third in a series of studies focusing on immigrants' contributions to the US economy. In this study, 'Intellectual Property, the Immigration Backlog, and a Reverse Brain-Drain,' the researchers concluded that the number of skilled workers waiting for visas is significantly larger than the number that can be admitted to the United States. 'This imbalance creates the potential for a sizeable reverse brain-drain from the United States to the skilled workers' home countries,' the foundation said. The report said a majority of immigrant company founders, including many in the tech sector, came to the United States as students. Many ended up staying in the United States after graduation, with a number founding new companies. It said 31 percent of the startups in tech centers had an immigrant key founder, including 52.4 percent in California's Silicon Valley. The researchers said Indian immigrants founded more companies than those from the"

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