Home > Entrepreneurship, Technology > Tech jobs fleeing silicon valley and India morphing in to a global R&D hub; so what?…

Tech jobs fleeing silicon valley and India morphing in to a global R&D hub; so what?…

There are two independent stories from the blogosphere this week that suggest that tech jobs are fleeing from silicon valley, check here for the web guild story, and second one, pondering whether Indian tech ecosystem is mature enough to spawn its own entrepreneurial class, check here for that Tech Crunch story. If one puts each one of these stories in perspective, it is becoming clear that western economies are running out of growth drivers and there aren’t just enough people to sell more things to. So they will be well advised to look to China and India in the short to medium term, say next 5-10 years at least both from a need to sell more as well as to cut costs. This brings up an interesting question namely how to rejuvenate the economy?

It is a pity that most US and European MNCs are showing up profits purely based on cost cutting. Most sensible investors know that this will only take them so far. Very few large MNCs are taking big bets on technology or new business models. So that begs the question, as to will they miss out on the next big thing that might as well come out of India, China, or any other place. With respect to India, I think there is clear need to seed or angel funding on a large scale. I personally am aware of a large class of engineers who have sufficient experience (~10 years and above) who are willing to chuck their jobs and spend 18-24 months trying their hands at new ventures only if there is minimal support. However I believe this is a chicken and egg problem namely in that both the engineers need to get out of their jobs and demonstrate their seriousness at taking some risk and on the part of the investor(s) to actually put their money where their mouth is. Till then… we await… or rather should you await or quit your job and do that thing that you really wanted to. I still haven’t found my guts to!

 

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