Indian Valley

CEOs of Indian origin lead some of the largest technology and internet companies in the world.  According to Blume Ventures, Indian immigrants comprise more than a third of the engineering staff at US technology and software companies.  Early waves of Indian-led firms specialized in IT outsourcing; but since then, globally recognized Indian technology startups have been fewer and farther between.  Moreover, recent venture funding data is not encouraging.  Where global venture funding fell 43% in 2023, in India venture funding fell 54% year-on-year.  Despite boasting a well-educated and technically savvy workforce, on an absolute basis, venture funding in India has historically lagged.     

Source: Blume Venture, Dealroom, March 2024