42% of startups in California founded by immigrants: California Governor

Startups in California: Speaking at a fundraiser in Massachusetts, California Governor Gavin Newsom emphasised the pivotal role immigrants play in the state's economy, revealing that 42 percent of all startups in California are founded by immigrants.

Addressing a gathering of prominent Indian Americans hosted by US India Security Council president Ramesh Viswanath Kapur, Newsom underscored California's resilience in the face of divisive rhetoric, noting, "Amid the vitriol, xenophobia, and nativism that permeates much of our politics, particularly from figures like Donald Trump, we in California have endured and emerged stronger."

He credited California's embrace of diversity for its leadership in manufacturing, science, and innovation globally, highlighting the state's high number of scientists, researchers, and Nobel laureates.

The fundraiser, held at the Kapurs' residence in Winchester on July 8, drew applause from attendees for Newsom's support for entrepreneurial initiatives and his veto of the proposed SB 403 bill aimed at banning caste discrimination. Newsom's upcoming visit to a Hindu temple in Florida was also welcomed by the gathering.

In discussing Massachusetts' strengths, Newsom praised the state's institutions of higher learning as incubators of talent, fostering a competitive edge based on human capital.

With California being a majority-minority state and home to a significant foreign-born population, Newsom emphasised the importance of inclusiveness and growth for statewide prosperity.

Kapur expressed confidence in Newsom's potential as a future presidential candidate, highlighting his principled leadership on critical issues and support for diverse communities.

With PTI Inputs