The growing innovation buzz in the Valley

Over the past decade, the Silicon Valley experience has changed dramatically, particularly with the influx of immigrants who are not afraid to leave the security of a monthly income and instead are founding innovative new companies. The number of innovation companies in the area has grown explosively since the dot-com boom in 2000, resulting in technology businesses making up 33 per cent of the economic output of Silicon Valley. Ten years ago, investors looked at Indians and wondered if they have the skills to become an entrepreneur. Now, it is almost a requirement to have a foreigner on one's startup team in order to get funded, according to Prashant Shah, who leads TiE's startup accelerator LaunchPad. Other changes include the technology shift from hardware or infrastructure to services and an application-level focus; the age of entrepreneurs getting younger; and increased diversity in gender as well as race in both the general workforce as well as leadership at large companies. Of course, we have also had an increase in the sheer numbers of startup incubators in the Valley and an increase in angel investor groups. Ever since its founding, TiE Silicon Valley has served as a way for entrepreneurs, particularly those hailing from India, to connect. In 1992, a group of successful entrepreneurs from the Indus region began monthly meetings in order to give back to the Bay Area community that had helped them in their own careers. This created a supportive environment for Indus and non-Indus entrepreneurs alike. Since then, TiE has supported dozens of startups through its angel funding program (TiE Angels) as well as its acceleration program (TiE LaunchPad), many of which have Indian founders. A recent initiative, called Billion Dollar Babies, has helped expand startups in India globally by introducing founders to mentors and potential customers in Silicon Valley. The success of Indians in the US has an effect all over the world. Through inspiration, active involvement in the community, and influence on policy change in Indian government, a startup culture can emerge and flourish in India. TiE has hosted many delegations from India over the last 23 years, teaching aspiring entrepreneurs and government officials alike about Silicon Valley culture and how it works. Programs like TiE's Billion Dollar Babies movement bring Indian companies to the United States in the hope of encouraging these companies to go global while incorporating what founders learn during their stay in Silicon Valley. In order to strengthen the India-US collaboration, however, policies in India must change. Laws regarding taxation and business unit formation must become friendlier to those willing to take a risk and those wanting to invest in Indian startups. TiE is committed to suggesting progressive policy changes to the Indian government in order to help improve ease of doing business and encourage business investment in India. Raj Desai is the Executive Director of TiE Silicon Valley and has over 40 years' experience in building global teams and entrepreneurship after holding senior positions in professional services, telecom and non-profit organisations. Raj has been with TiE [The Indus Entrepreneurs] network since inception as a volunteer, then as the Executive Director for six years since 2000, doubling up as TiE Global ED until 2005.