MonolithIC 3D Inc., my latest company, has developed a breakthrough technology to enable practical monolithic 3D chips with the potential to extend Moore’s Law for the next two decades with significant benefits in power, speed, density and price. The U.S. Patent Office granted our chip research five patents, and more than thirty are still pending their approval.
Although I decided to start my company in the United States, many brilliant, foreign-born entrepreneurs and scientists do not, deterred by the broken American immigration system. Letting their ideas and the resulting job creation occur overseas is simply bad politics and bad economic policy. I hope my work with the Partnership for a New American Economy will turn around the mistaken conventional wisdom that immigrants take away jobs from Americans. In the eighties, I came to the U.S. on a high skilled worker visa and later created three active companies and tens of direct jobs and many indirect businesses and jobs. Today, the National Foundation for American Policy has found that each high skill H1-B visa creates five additional American jobs.
My story of an immigrant creating a successful high tech company in the United States is but one of many. The United States has a rich history of bright immigrants bringing ideas and a penchant for hard work. It’s time our immigration laws begin to embrace these talented engineers and scientists and leverage the fact that the US is an attractive place that many aspire to immigrate to. The future of our economy is highly dependent on the United States retaining its position as the world’s technology leader. Welcoming talented immigrants is our best way to keep it so.