• Thursday, July 18, 2024

Business

42 per cent of California startups founded by immigrants, says state governor

“Forty-two per cent of all startups in California are founded by immigrants, and they are the lifeblood of our state,” Newsom said

Newsom also highlighted the importance of human capital in states like California and Massachusetts. (Photo credit: Getty Images)

By: EasternEye

Governor of the US state of California, Gavin Newsom, highlighted the significant role of immigrants in the state’s entrepreneurial landscape, noting that 42 per cent of all startups in the state are founded by immigrants.

He made these remarks during a fundraiser in the US state of Massachusetts on Monday, where he talked about their essential contribution to California’s vitality.

“Forty-two per cent of all startups in California are founded by immigrants, and they are the lifeblood of our state,” Newsom said. He praised California’s resilience against divisive rhetoric, pointing out past challenges like Proposition 187 and celebrating the state’s embrace of diversity.

The fundraiser, hosted by Ramesh Viswanath Kapur and Susan Kapur in Winchester on July 8, drew notable Indian American attendees from the Boston area. They expressed appreciation for Newsom’s support for entrepreneurial initiatives and his principled stance on critical issues, including his recent veto of the proposed SB 403 bill, which aimed to ban caste discrimination.

During the event, Kapur thanked Newsom for his commitment and noted his interest in visiting a Hindu temple in Florida in the near future. Attendees, including many entrepreneurs and young people of Indian origin, applauded Newsom’s dedication to fostering innovation and inclusivity in California.

Newsom also highlighted the importance of human capital in states like California and Massachusetts, emphasising the role of renowned educational institutions in nurturing talent and driving global innovation. He said that California’s mindset of inclusiveness is crucial, especially in a state where 27 per cent of the population is foreign-born.

“In California, where our population rivals that of 21 other states combined, our diversity is our strength,” Newsom said, highlighting the state’s unique position on the global stage.

(With inputs from PTI)

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