Browsing: Silicon Valley

Leila Chirayath Janah, 29, recently bagged a whopping $ 1. 25 million in funding from Google for her company, Samasource. Add that in, and this small, non-profit has got close to $ 5 million from several major giant corporations including Rockefeller Foundation, Ford Foundation, Ebay, Cisco, Facebook, LinkedIn and even the US State Department.

Why have so many blue chip organizations put their faith in this little-known non-profit?

The idea behind Samasource is audacious – that the poorest of the poor are equal to the larger world community and quite capable of doing good work when they are entrusted with it, rather than just being given handouts and pity. In fact, Sama means equal in Sanskrit and it is Leila’s way of bringing the poor into the hi-tech world.

Lassi with Lavina Guide to Upcoming Events – TiEcon New York  In New York, it’s…

The world knows of Dropbox, which is estimated to be a $ 5 billion company but few know that its genesis happened at Y Combinator, an incubator of start-ups which also nurtured the $1. 3 billion Airbnb.
“Y Combinator has become the central place to see where the next huge companies will be born and this makes it tremendously exciting to be a part of,” says Harj Taggar, 29, who is part of the core team at Y Combinator.

Since 2005 Y combinator has funded over 380 startups, including Reddit, Scribd, Disqus, Dropbox, ZumoDrive, Justin.tv, Posterous, Airbnb, Heyzap, Cloudkick, DailyBooth, WePay, Bump, Stripe, AeroFS, and Hipmunk.It has been called the most prestigious program for budding entrepreneurs and has created an entirely new method of funding early stage startups.

The only job he ever applied for was at McDonalds – and he was turned down! He is a high school dropout who at the age of 16 went on to create ClickAgent, an Internet business which sold for $ 40 million.

He sold his next start-up, BlueLithium, to Yahoo for a whopping $ 300 million. Now he’s on to his third start-up, RadiumOne, and is having the time of his life.

Meet Gurbaksh Chahal, the kid from Tarn Taran, near Amritsar, who has gone on to become a major serial entrepreneur in Silicon Valley. He has been on Oprah before millions of viewers and has written a best selling book. Worth over $100 million, he’s got the fabulous penthouse and the Lamborghini and all the perks. He was proclaimed as the most Eligible Bachelor in America in 2009. Now, at 28, he’s still single!

At 21, Rahim Fazal was the youngest CEO ever to head a publicly traded company. He was the celebrity entrepreneur whose face was splashed in newspapers and who at 16 had already sold another company for $1.5 million. But within a year his new company was in trouble, and he had to walk away from it – to study in a community college since he had hardly finished high school. Talk about ups and downs!

Rahim, who was named amongst America’s top 30 entrepreneurs under 30 by Inc. magazine and amongst the top 25 digital thought leaders by iMedia, has had enough twists and turns in his life to be worthy of a Hollywood – or Bollywood – movie!

“Unable to get a visa that would allow him to start a company after he graduated from Wharton in 2007, Kunal returned home to India. In February 2010, he started SnapDeal—India’s Groupon. Instead of creating hundreds of jobs in the U.S., Kunal ended up creating them in New Delhi.

At a time when our economy is stagnating, some American political leaders are working to keep the world’s best and brightest out. They mistakenly believe that skilled immigrants take American jobs away. The opposite is true: skilled immigrants start the majority of Silicon Valley startups; they create jobs.” – Vivek Wadhwa

More than three million students travel outside their home countries to study—a 57 percent increase in just the past decade. What’s more, those extraordinary numbers are projected to nearly triple, to 8 million by 2025, says Vivek Wadhwa.

“The harsh reality is that in the tech world, companies prefer to hire young, inexperienced, engineers. And engineering is an “up or out” profession: you either move up the ladder or face unemployment. This is not something that tech executives publicly admit, because they fear being sued for age discrimination, but everyone knows that this is the way things are.”

“Over drinks (some excellent Chilean wine), the minister told me of a new program that Chile is piloting to lure bootstrappers. Chile will grant $40,000 and provide some really cheap office space and accommodation to budding entrepreneurs from anywhere in the world. All they have to do is to build their products in one of the most beautiful locations on the planet. Chile is betting that once these entrepreneurs get there, they will never want to leave.”

Introducing a new blog by Vivek Wadhwa on technology, immigration and more…
Meet the new Indian techies. Meena believes that if she works hard enough, she can build her own “big business”—maybe a Google. Girls with the ambition and confidence to enter the tech world are rare even in Silicon Valley but Meena lives in a slum in New Delhi.
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Goodbye, Wall Street. Hello, Start-Up! The world is a-changing, the economic landscape is re-aligning. No doubt about it. In the days of the economic downturn, Wall Street had been handing out pink slips to workers – now you have three workers who have given Wall Street the pink slip!

Puneet Mehta was a SVP with Citi Capital Markets, Archana Patchirajan was a senior consultant with the same company; and Sonpreet Bhatia was a vice president at Merrill Lynch/Bank of America.

Now why would people throw up hard-to-get, prestigious jobs in the financial sector and go off into the unknown? They’ve heard the siren song of ‘entrepreneurship’ and their grand dream is being funded by venture capital and endorsed by none less than Mayor Bloomberg!