Anything that can boost a country's GDP should be given more attention and covering and support from all sources. Two sectors in India have been consistently contributing to the nation's GDP - manufacturing sector and agriculture sector.
for quite sometime. In the words of Mr. Paul Singh, who is a first generation Indian American investor, "venture capital backed companies can be a key contributor to GDP growth. He cites a recent report that showed that venture backed firms created 21 per cent of the US GDP and over 12 million jobs," reported The Times of India.
Mr. Singh is a graduate in computer engineering and an entrepreneur himself. Among the US President's
innovation fellow this year, Singh, 34, is an "entrepreneur in residence" at the White House, trying to
streamline immigration processes for entrepreneurs.
He started in December 2011 as a technology-investment prospecting trip, with Singh and his partner, David Mclure, coming to India with their "Geeks on a Plane" programme. In the year since their venture fund, 500 Start Ups, has set up a full fledged office in Delhi and added 10 Indian firms to its 420 company portfolio-making the advance of significant American money into early-stage funding of technology companies in India.
In February, 2013, "Geeks on a Plane" are set to return, including 40 to 50 Silicon Valley tech investors,
founders and technologists, all of who travel around the world prospecting the investment climate for
Let's hope there are more and more people like Mr. Paul Singh who can bring about a nice transormaion of so many things which are eagerly waiting for someone to take the lead. Mr. Singh further adds while
giving this bit of news to the media, "There are vey few things in life that you can do that can potentially change the world, and I think this is one of them (funding through venture backed businesses) because I can fund thousands of founders around the world," reported The Times of India.
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