Immigrants head hi-tech US firms

PUBLISHED : Thursday, 12 August, 1999, 12:00am
UPDATED : Thursday, 12 August, 1999, 12:00am

A study conducted by the Public Policy Institute of California has revealed that Chinese and Indian immigrants head more than one-quarter of all companies founded in Silicon Valley in recent years.

According to the study, firms started by Chinese and Indian immigrants between 1980 and 1998 collectively accounted for nearly US$17 billion (HK$133 billion) in sales and more than 58,000 jobs.

The study demonstrated the important contribution that immigrants could make in creating jobs and wealth.

The majority of those with Chinese surnames were from Taiwan.