June 6, 2012
It’s a tentative anchors away for the world’s first floating start-up as more than 250 companies have expressed interest in joining Blueseed, a massive ship anchored in international waters off the coast of California’s Silicon Valley.
But supporters of foreign entrepreneurship say immigrants are responsible for some of the most successful businesses in the world and if the U.S. doesn’t try to attract them, others will.
‘The ship may sound like a crazy idea but it illustrates how seriously flawed the immigration system here is,’ said John Feinblatt, who runs Partnership for a New American Economy, which advocates for immigration reform.
The organization published a report in June that said 40 percent of Fortune 500 companies were founded by immigrants or their children. Feinblatt said countries including Chile, Singapore and the United Kingdom have programs to attract immigrant entrepreneurs.
‘While the U.S. is driving people away, other countries are welcoming them with open arms,’ he said. ‘If you miss out on them, you miss their talent, their ideas and ultimately the jobs that they create and the taxes that they pay.’