Sunday, March 21, 2010

Indian Entrepreneurs in US

Out of the public listed companies in USA 1/4th of the ventures are started in the past 15 years founded by immigrant entrepreneurs, according to American Made Magazine.

The current market capitalization of these firms exceeds $500 billion, and they employ more than 220,000 people in the U.S. and 400,000 internationally. Immigrants have had the greatest impact in the fields of IT, life sciences, and particularly in the high-tech manufacturing sector, where 40% of publicly traded, venture-backed firms operating in the U.S. today were founded by immigrants.

Indian immigrants typically come from middle-class families, and they tend to be college graduates, many with particular expertise in science, engineering, or technology. They come to the United States to get graduate degrees and they are under a lot of pressure to see if they can take care of their parents and families back home.

The wealth in India is still controlled by a small percentage of the people in the country, so even if their parents are educated people, they may work in low-paying, civil service jobs. There is no way it is possible to break the entrenched social system and the cultural barriers over there. When an immigrant reaches US and sees that so many opportunities exist, he becomes quite ambitious.

The Indus Entrepreneurs is a networking association originally started by Indian entrepreneurs and engineers in Silicon Valley in 1992. The focus is on business development, support, providing education for future entrepreneurs, and giving back to the community.

It really has helped create energy, synergy, and a social system for Asian Indian immigrants and other entrepreneurs. They have 10,000 members in nine countries now, including England, South Africa, and Israel, and they're going beyond technology into other industries.


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