This is a striking statistic, given that immigrants represent less than 15% of the country’s total population.

The study, conducted by The Entrepreneurs Network, a prominent UK-based entrepreneurship think tank, with the support of Fragomen, a global immigration services provider, builds on previous findings from 2019. The earlier research showed an even higher figure, with 49% of the top 100 fastest-growing companies having a foreign-born founder.

The Entrepreneurs Network suggests that these findings underscore the vital role international talent plays in driving the UK's startup sector. It urges the government to implement policy reforms that would enhance the UK’s appeal to top global talent. Among the recommended reforms are: negotiating a Youth Mobility Scheme with the EU and US, reducing visa fees for highly skilled immigrants to be more competitive with international standards, and broadening the High Potential Individual visa scheme to include more universities.

Notable companies in the top 100 with foreign-born founders include carwow, Monzo, and Atoa. The report also features case studies of successful foreign-born entrepreneurs, such as Paul Domjan of ENODA and Shiladitya Ghosh of Mission Zero Technologies, further illustrating the significant contributions of immigrant founders to the UK economy.

Eamonn Ives, Research Director of The Entrepreneurs Network, said: “Given the unwelcome return of hostile rhetoric towards immigrants in the UK, it’s more important than ever to set out the facts. People coming into our country to work are a huge force for good, and as our research shows once again, foreign talent is helping to build some of Britain’s most exciting and lucrative companies. We need to ensure our immigration system recognises their incredible contribution, and doesn’t needlessly throw up barriers to those who want to make our economy stronger and more dynamic.”

Also commenting was Nadine Goldfoot, Managing Partner of Fragomen’s UK practice: “Fragomen is thrilled to be supporting The Entrepreneurs Network and Beauhurst to deliver the latest data reflecting the significance of migration and mobility to the UK’s entrepreneurial landscape. This analysis will rightly inform the evidence-based case for policies and an immigration architecture that distinctly encourages, supports and nurtures entrepreneur-arrivals. As the analysis highlights, foreign-born startup founders have been and are integral to the success of the UK’s entrepreneurial ecosystem. Reforms to ensure we continue to attract the world’s brightest minds to the UK, to collaborate alongside homegrown innovators, is a recipe for continued and dynamic economic growth.”

Policy recommendations in full

• Reform eligibility thresholds to help startups and high-growth businesses access talent
• Harness the Immigration Salary List to buttress the Government’s industrial priorities
• Negotiate Youth Mobility Schemes with the European Union and the United States
• Lower visa fees for high-skilled immigrants in line with international competitors
• Expand the High Potential Individual visa to more universities
• Build a specialised task force to recruit international talent
• Grant advanced STEM students Indefinite Leave to Remain upon graduation
• Introduce the world’s first Global Talent Exam to actively recruit the world’s brightest individuals