When Prakash Agarwal joined Cirrus Logic Inc. in 1984, he was employee No.
9. Eight years later he felt stymied by the 2,500-employee bureaucracy an=
d
spun off his own tech firm, NeoMagic Inc. Mr. Agarwal is one of 2,775 Ind=
ian
and Chinese CEOs of Silicon Valley companies--a record number that has be=
en
increasing at a blistering pace during the past four years.
A new study released by the Public Policy Institute of California, a San
Francisco-based research organization found that last year Chinese and
Indian engineers were running more than one-quarter of valley tech
companies. Chinese and Indian CEOs were running 13 percent of valley tec=
h
companies started between 1980 and 1984. Between 1995 and 1998 that numbe=
r
shot up to 29 percent, according to the Institute's research. Equally
striking is the impact of the contributions. Those companies accounted fo=
r
more than $16.8 billion in sales and created in excess of 58,000 jobs.
"What has happened is that Indians have proven that not only are they
technically talented, but they can start successful companies," Mr. Agarw=
al
says. "Now, the valley and Wall Street are excited to invest."
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full story available at
http://www.amcity.com/sanjose/stories/1999/07/19/story1.html
Tushar J. Mehta
email: [email protected]
voicemail: (206) 405-2335