Immigrant Entrepreneurs in the Massachusetts Biotechnology Industry (2007)

Immigrant entrepreneurs are co-founders in 25.7 percent of Massachusetts Biotechnology firms. In 2006, these immigrant-founded biotechnology companies produced over $7.6 billion dollars in sales and employed over 4,000 workers. The foreign-born founders came from across the globe but in larger numbers from Europe, Canada or Asia. Their firms specialize in the most complex, risky, life science-intensive aspects of biotechnology to seek knowledge directly applicable to human health. Biotechnology is a crucial industry for Massachhusetts and the evidence strongly suggests that immigrants have been key contributors to this industry by establishing new businesses as well as bringing intellectual capital and thereby contributing significantly to the overall economic growth of the Commonwealth