STOCK MARKET BSE NSE

Homebound techies may give Indian start-up ecosystem a fresh impetus

Analysts also opine that the situation may be strikingly similar to the previous decade where a lot of engineers in the Bay area ended up founding their own ventures in the US and elsewhere.

Published: 25th June 2020 10:58 AM  |   Last Updated: 25th June 2020 10:58 AM   |  A+A-

H-1B visa

(Photo | Express Illustrations)

Express News Service

BENGALURU: Tens of thousands of techies who are headed home, as a result of the US government banning the various non-immigration visas including the H-1B, may play a crucial role,  strengthening  the Indian start-up ecosystem. Analysts say, these professionals could join the existing new age companies or may even look at launching their own start-up with a clear focus on sustainability.

More than 70 per cent of the fresh H-1B visa applications (85,000) and those awaiting renewals (two lakh) are Indians and would have to wait at least till this year-end for employment opportunities in the US.

Given this scenario, a majority of these technology professionals are expected to head back to India, and there is also a likelihood that the companies which had employed them could place them outside the US, industry analysts told this publication.

Analysts also opine that the situation may be strikingly similar to the previous decade where a lot of engineers in the Bay area ended up founding their own ventures in the US and elsewhere. Take the case of Snapdeal, CEO and Co- Founder Kunal Bahl.

A business graduate from University of Pennsylvania, Bahl was denied an H-1B visa in 2007 and hence he decided to move back to his country of origin - India - where he founded India’s third largest e-commerce company, Snapdeal which has Amazon and Walmart-backed Flipkart as its rivals.

Bahl missed out working for Microsoft back then and had this message to convey to those techies whose American dream lied shattered due to H-1B visa ban. “India is the land of big opportunities. I didn’t know this 13 years ago when my H-1B visa was rejected, but haven’t regretted a moment since,” Bahl tweeted.
Hemant Mohapatra, partner at LightSpeed India, who had a flourishing 14 year-old career in the US while working for companies like Google, said that all it takes is the right intention and patience to make it big in the start-up industry.

“These are difficult times for the start-up founders, but the kind of opportunities in India are unmatchable,” Mohapatra said, adding he has already  prepared a to-do list for the US returnees on how they could restart their career. According to Pareekh Jain, founder and lead analyst , EIIRTRend and Pareekh Consulting, many of the US returnees could look at launching start-ups.

“For now, sustainability and resource crunch could pose a problem as the community is facing the heat of Chinese money has stopped coming in. The pandemic situation has made their survival difficult. However there will be an impetus to this ecosystem as huge tech talent flows in from the US.”


TAGS
H1B Visa

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp