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Tuesday, September 23, 2014

Think like a migrant, Act like a local

We are infonity.

Who are we: INFONITY is all about – Integrity | Nurture | Flexibility | Optimism | Network | Imagination | Transformation and most importantly YOU.

As we are so fascinated about migration and migrants (again I am mentioning, we are not saying immigrants or emigrants, we are saying migrants. Migration is a movement of people from one place to another.) Let me tell you another great report I bumped into. Though it says about immigrants but from our belief immigration is subset or migration.

A report by Mario Kranjac in summer 2012 Student Research Assistant at George W. Bush Institute, Economics Major, Yale University “Immigrant Contributions to U.S. Entrepreneurship and Innovation”.

The key findings from the analysis of the 2012 Fortune 500 include:
  • ·95 of Fortune 500 firms (19%) were founded by immigrants. This represents a slight increase from 18% in 2010.
  • ·Furthermore, 23.4% of companies were founded by children of immigrants, a slight increase from 23.0% in 2010.
  • ·In total, 211 out of 500 companies (42.2%) were founded by immigrants or the children of immigrants. This represents a slight increase from the 40.8% recorded by the Partnership for a New American Economy's study in 2010.
  • These 211 companies founded by immigrants or the children of immigrants reported revenue of $5 trillion in 2011, an increase from $4.2 trillion in 2009.
  • Profits for Fortune 500 firms founded by immigrants or children of immigrants amounted to $430 billion in 2012. 

The report also notes,” Many of America’s greatest brands – Apple, Google, AT&T Budweiser, Colgate, eBay, General Electric, IBM, and McDonalds to name just a few – owe their origin to a founder who was an immigrant or the child of an immigrant.”

Steve Jobs, the famous co-founder of Apple, is a child of an immigrant parent from Syria. Walt Disney also was the child of an immigrant (from Canada), as well as the founders of Oracle (Russia and Iran). IBM (Germany), Clorox (Ireland), Boeing (Germany) 3M (Canada) and Home Depot (Russia).

The research shows the attribute of risk-taking that results in migrants taking a chance on a new land in many cases can be passed along to their children. My name is Goutam Basak, founder and managing director of infonity (www.infonity.com.au).

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