Discussed in a speech to employees, President Obama the role immigrants last week to Facebook, play the entrepreneur in U.S. economic competitiveness. "We want more Andy Groves here in the United States", he said the amount start touch success on the Hungarian American entrepreneur. "We them start Intel in China, or start it in France will not."
Unfortunately back not our President his words with action. He said simply, "comprehensive immigration reform," would support, the legislation that has passed no chance. This is because it tries to fix the problems with immigration at the same time. Most Americans support legislation more doctors, scientists and entrepreneurs admit, but they are deeply divided on the issue of amnesty for illegal immigrants. We are in a chaotic standoff.
Our leaders seem to not understand the urgency of the situation. You don't realize how much has changed the world. Now, entrepreneurs see abundant opportunities in countries such as India and China. The world can stay at the best and brightest home and as much success as possible in the US qualified workers in the United States achieve immigrated, what they are optimistic, options; many are headed home.
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My team at Duke, UC Berkeley, Harvard and explores the role entrepreneurs, the qualified immigrants in U.S. competitiveness play. After we published our study on the reverse brain drain, many scientists and policy makers entrepreneur frustrated in their home countries I would and back in the United States she referred to India's poor infrastructure, China's authoritarianism and the corruption and bureaucracy in both countries.
This prediction seemed wrong based on our observations during visits in India and China, so we it learn a project of the entrepreneurial landscape started. More than eight months, we interviewed 153 workers had studied or worked in the United States and returned to India to company, and 111, that went back to China. Explains our findings in our new study. It shows that entrepreneurs do better at home most of the returnees as they believe that they would do in the United States
Why do they return home?
Due to the growing economies access to local markets and family ties. More than 60 percent of Indian and 90 percent of the Chinese returnees said the economic opportunities in their countries were an important factor on their return. 78 Percent of the Chinese were from the local markets, were curled as 53 percent of the Indians. And 76 percent of Indians and 51 percent of the Chinese said family ties were strong factors.
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Surveyed took pride in the fact, contribute to the economic development of their home country. More than 60 percent of Indians and 51 percent of the Chinese rated it as very important. Incentives were not at all important for Indian Government, but were very important to 23 percent of the Chinese. Only 10 percent of Indians and Chinese said that they are leaving the United States, because they had to; others can frustrated about their visa situation but others have been, had more important reasons for home.
How their situation in their home countries in comparison to the United States?
Surprisingly, said 72 percent of the Indian and 81 percent of the Chinese returnees, the ways to launch you were their own business better in their home countries. Speed of professional growth was also better for the majority of the Indians (54 per cent) and Chinese (68 percent) home. And the quality of life was better or at least equal to what she had enjoyed in the United States for 56 percent of the Indians and 59 percent of the Chinese.
What are the advantages of doing business in India and China?
More than 70 percent of the Indians rank operating costs and staff salaries as a very important benefits. reported more than 60 percent of the Chinese as well. Seventy-six percent of the Chinese rank access to local markets as very important; 64 Percent of Indians ranked it the same.
Optimism in terms of the fast-growing economies has also a big difference. Indians and Chinese (55 per cent and 53 per cent, respectively) the mood saw in their countries as a very important advantage. And as you would expect, given the support the Chinese Government offers companies, far more important support (31 percent) Chinese Government keep as Indians (7 percent).
There is a silver lining to this cloud.
Yes, return that entrepreneurs in India and China their privileged position in the global economy will exploit company building, the access to the lower cost benefits and expanding markets and business networks in their home countries. And Yes, we would benefit if all of this startup activity in the United States but it happens is also a bi-directional circulation of ideas and possibilities. According to exchange of information to our study, a majority of the returnees business with their counterparts in the United States at least monthly; about one third do it weekly or more frequently. The accumulation of links between entrepreneurs in Bangalore and Beijing, and entrepreneurs in the United States offers opportunities for mutually beneficial growth.
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Our policy makers need urgently to realize that we are in the competition and cooperation at the same time in a new era. While we the brain drain cannot stop, we can the playing field level through the setting of our immigration system. Let's visa for one million engineers, scientists, doctors, and researchers and their families who are lawful in the United States available, but caught in immigration limbo with increase in the number of permanent residents. To speed up its passage, let us decouple the startup visa legislation from the comprehensive immigration reform package. Then we can focus on recruiting entrepreneurs from around the world on our turf, play as President Obama calls.
Vivek Wadhwa is visiting scholar at University of California-Berkeley, senior research fellow at the Harvard law school and Director of research at the Center for entrepreneurship and research commercialization at Duke University.
Copyright © 2011 Bloomberg L.P.
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