The economic impact of immigrant entrepreneurship on the U.S. job market is staggering. According to a by National Foundation for American Policy (NFAP), more than half of America’s cutting-edge companies valued at $1 billion or more were established by foreign-born founders. recent study If you include companies where immigrants played key leadership roles, the numbers are even more impressive. Nearly 80% of America’s unicorn, billion-dollar companies have foreign-born co-founders, CEOs, or VPs. Despite these positive contributions, has intensified over the last two decades. For example, a recent study found that U.S. media tends to present immigrants as dangerous criminals and “ .” anti-immigration rhetoric males in detention The Vertical, focusing on international tech entrepreneurs in the U.S., intends to change this narrative. I had a chance to speak with its founder, Victoria Zavyalova, a seasoned science and tech journalist. an emerging publication What’s driving you? Why did you choose to focus on immigrant tech entrepreneurs? I simply find them very inspirational, not just for other immigrants but for the public in general. After the pandemic, a lot of people are still grieving, struggling with their finances, or simply feeling lost in this new reality. I want them to look at our stories and think: “Hey, this guy from Mexico, who could barely speak English and started as a busboy, was able to make his dreams a reality. If he can do it, I might have a chance too, even if I’m facing adversity.” Also, I believe I have an eye for successful entrepreneurs, and I want other immigrants to learn from their practices. For example, a few years ago I interviewed Kaspar Tiri, the founder of Ready Player Me, a Tallinn-based cross-game avatar platform. This summer, his company raised a whopping $56 million in a Series B funding round led by Andreessen Horowitz. Kaspar participated in The Vertical’s workshop on access to capital for foreign founders in the U.S. It’s still available and free for all. What’s your angle? How different is your concept from other media focusing on immigrant communities? We cover tech startups launched by foreign-born founders and the investors who support them. Of course, there are also amazing immigrant entrepreneurs running other types of businesses. But technology makes a global impact; it has the potential to change the world. Also, as you may have noticed, we don’t focus on any one country in particular. The top five countries of origin for immigrant founders in the U.S. are India, Israel, the UK, Canada, and China. But we hear amazing entrepreneurship success stories from lesser-known places—Nigeria, Ukraine, France, and Latin America—and want to share them with a wider audience. We base our coverage on the concept of the American dream: no matter who you are and where you come from, everyone should have a shot at success. Yes, I believe so. Sometimes we don’t realize how lucky we are to live in a place where people are still, to a certain extent, masters of their own destiny. It may not be utopia, but still: look at the rest of the world. In Ukraine, entrepreneurs struggle to protect their employees and businesses in war time. In some countries women entrepreneurs don’t have the right to open their own bank account because of their gender. In others, businesses are obliged to give governments 90% of everything they produce. Many countries don’t have functional business practices, courts, lending mechanisms. There are plenty of problems in the U.S., but it’s still a great place to take risks and reap the rewards when those risks pay off. Do you think it’s really the case in the U.S. these days? Can you define success? Also, can you build your own success on someone else’s recipe? Success is when you like where you’re going and who you’re becoming. There’s always someone with more wealth, intelligence, publicity, bigger lips or a louder voice. You should have this inner peace and awareness to see if what you’re trying to achieve is what you really want. Recently, at my writing association gathering, I met a philanthropist and former IT entrepreneur who now builds clinics in Florida, free and open to all. He moved to the U.S. from Pakistan, in his early 20s, and is now in his 80s, giving back to society and helping others. He’s a fantastic example of what success can look like. It’s about finding inner joy, peace, and connection with the people around you. Photo Credit: Victoria Zavyalova
