News Column

PAKISTANI ENTREPRENEURS IN USA

June 15, 2014

S.KAMAL HAYDER KAZMI

OPEN CREATES A PLATFORM FOR AMERICANS OF PAKISTANI ORIGIN TO GET PROFESSIONAL AND ENTREPRENEURIAL EXCELLENCE

International relation has become more significant to any economy in present years. Because of this societies thrive and their citizens get ample opportunities. The major impacts of international relations are trade and knowledge sharing and one country supports to another country. Although it is noted that countriesí trade volume has increased due to positive foreign relation and this increased trade benefits and our standard of living. Similarly, sharing knowledge is also a vital component in the growth and advancement for any economy in a sustainable and responsible way. For creating well opportunities, economic developments even human progress, OPEN (Organization of Pakistani Entrepreneurs) was organized during 1998 through a group of Pakistani-American corporate executives and entrepreneurs in Boston.

PAKISTANIS IN THE USA PROFESSION (%) Doctors 5 Scientists 6 NASA scientists 12 Microsoft employees 15 IBM employees 13 INTEL scientists 9 XEROX employees 12



Approximately 1.5 million Pakistanis are living in the USA, 1/5th of them live in the Silicon Valley. 15% of Silicon Valley start-ups are by Pakistanis. Pakistani students are the 3rd largest in number among foreign students in USA.

OPEN is an unpaid, not-for-profit organization, dedicated to the promotion of business leadership and entrepreneurship in the Pakistani-American society. It is an inclusive, collaborative and encompassing organization with a dream to become the leader organization running entrepreneurship in Pakistan. Pakistani-American entrepreneurs, venture capitalists, mentors, accountants, bankers, advisers and lawyers make up an increasing ecosystem in Silicon Valley. Numbers of Pakistani-American discovered start-ups have been financed through top venture assets companies. Few such firms have either been obtained in M and A agreements or gone public by giving shares for sale at key stock markets.

TOP 5 AMERICAN EMPLOYERS OF PAKISTANIS General Electric 2,600 Hewlett-Packard 1,200 IBM 2,500 American Express 1,500 Dell 2,200



It is estimated that there are 80,000 IT professionals in Pakistan as against 120,000 in Silicon Valley.

Presently, OPEN has chapters in Boston, Silicon Valley, London, Chicago, Houston, Atlanta, Washington DC, New York, Lahore, Islamabad and Karachi. Moreover, OPEN-Karachi is the associationís first chapter outside US and also took its first foot-hold into the country thereby assisting to strengthen the communication between the worldwide chapters and industry in the country. During May 2014, OPEN forum-2014 was organized at Santa Clara Marriott. This forum was a day-long yearly leader business conference in Silicon Valley and one of the greatest conferences for entrepreneurs with workshops, discussions and panels on a broad variety of subjects significant to professionals and entrepreneurs in the valley and elsewhere.

SECOND MACHINE REVOLUTION NUMBER OF PAKISTANIS IN DIFFERENT REGIONS REGIONS NUMBERS Silicon Valley 12 to 15,000 California 45 to 55,000 USA 4 to 500,000 Worldwide 5 to 6 million



OPEN has become a real platform for networking among Pakistani-American entrepreneurs in Silicon Valley. The Valley is driving the second machine revolution, which is alike in worldwide scope and transformational impact as the 1st Machine Revolution (Industrial Revolution - 18th century). Much of Africa and Asia, including what constitutes Pakistan nowadays, were left behind and colonized after the previous industrial revolution that was run through inventions like the printing press and steam engine.

PAKISTANI OVERSEAS WORK FORCE Ė 7.5 MILLION United States of America 1.5 million United Kingdom and Ireland 2.0 Million Canada 500,000 Western Europe 1,000,000 Saudi Arabia 1,200,000 United Arab Emirates 300,000 Kuwait, Bahrain, Oman, Yemen 200,000 Australia, New Zealand 500,000



OPEN Silicon Valley is the greatest chapter of OPEN Ė N. America, and has been organized in the valley since 2001. This time, however, Pakistanís people are the forefront of the present machine revolution, contributing to the exponential development in high-tech enabled through semiconductor technology as projected through Gordon Moore. Surprisingly, the valley is home to 12 to 15 thousand Pakistani Americans. Thousands of them are working in different companies such as Google, Cisco, Intel, Oracle, Apple and hundreds of other high technological firms from small start-ups to large fortune 500-corporation.

Recently, there has been optimistic coverage regarding Pakistani-American entrepreneurs in Forbes and other journals. A Forbes acknowledged that Pakistan is among a dozen states, which are birthplaces of several of the most triumphant Silicon Valley firms financed through Sequoia Capital. Numbers of Pakistanis are getting fame in US. For instance Shahid Khan was born into a middle class family of Lahore during 1950, now he lives in Southwest Floridaís posh beach. Presently Shahid has USA nationality and ranks 179th on the 2012 Forbes 400 with a predicted total value of 2.5 billion dollar. Microsoft Corp co-founder Bill Gates remains the richest person in USA by far, as the philanthropy and tech giant took the top spot on the Forbes 400 catalog for the 19th year running, with a total value of 66 billion dollar.

Gates says among the Asians, Pakistanis are the smartest citizens globally in Information Technology. Unluckily, Pakistan provides opportunities to a few; scores of bright citizens with potential entrepreneur talents on Lahore streets can make to the Forbes catalog if they are offered a chance.

IMAGE PROBLEM

Unfortunately, Pakistan is suffering from a serious image issue in the world. If the country has a bad image internationally currently that is because there are many bad things occurring in Pakistan such as worst corruption, poor law and order, terrorist attacks, political instability, economic unsteadiness, Illiteracy, disrespect for women and lack of solidarity etc.

US SUPPORTS

For achieving opportunities in future, United States supports young Pakistani entrepreneurs. US finance, which supports small-scale, high-impact agendas for communities all over Pakistan, will now also focus on support to Pakistanís entrepreneurs. It is said that US embassy also unveiled an entrepreneurship plan known as Journey to Prosperity (Khushhali Ka Safar), which offers support to innovative Pakistani entrepreneurs through connecting them with American mentors and investors, chiefly from the Pakistani-American diaspora and academic institutions.

PAKISTAN TRADES WITH USA (VALUE: RS IN MILLION) PAKISTAN EXPORTS TO USA DECEMBER, 2013 DECEMBER, 2012 VALUE % SHARE VALUE % SHARE 36,227.82 14.98 29,728.68 15.53 PAKISTAN IMPORTS FROM USA 15,450.66 4.06 10,943.22 3.07



USA investment in Pakistan during FY14 (July-Mar) was recorded 172.1 million US $.

Home Remittances USA to Pakistan during April 2014 was recorded 206.15 million US $.

In addition, US presently introduced the multi-year Pakistan Private Investment Initiative. This initiative will spur job progress and economic growth through enlarging access to capital for Pakistanís small-to medium-sized firms. Further US program, the Pakistan companiesí scheme, assists to raise the incomes and profitability of small and medium-sized businesses in susceptible regions areas by removing and identifying constraints to private-sector job development in major regions like minerals, livestock, agriculture and tourism.

CONCLUSION

It is said that USA will continuously support the development of Pakistanís entrepreneurs. We know that economic prosperity is a major component of any states' foreign strategy. With no considerable economic means, a nation canít predict to have influence on the global level. Despite USA, many countries want well relations with Pakistan but the Government of Pakistan must stop terror activities and plan effective foreign policy.


For more stories covering the world of technology, please see HispanicBusiness' Tech Channel



Source: Pakistan & Gulf Economist


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