Made in India

CAN8217;T Indians replicate their derring-do back home? After all, Venture Capitalists have 1.5 billion for investment this year, substantially more than last year8217;s 1 bn. That8217;s also substantially more than the 393 million VCs had for startups in China. There are opportunities in the downturn for those who think big and risk all. Srini Rajam, 41, did. Rajam, for many years head of multinational chip-maker Texas Instrument8217;s trend-setting lab in Bangalore 8212; one of the first to set up shop 8212; started Ittiam Systems in March 2001, as the tech bubble was disintegrating. Yet today, his tiny company 8212; geared at creating software for specialised chips 8212; is valued at 75 million, even though it8217;s all still potential. The notable thing is that Rajam decided to start-up in power- and water-plagued Bangalore, instead of heading for the Valley. His short answers to Rajesh Menon about his experience

You8217;ve built your company in the midst of a crippling downturn. What has your experience been?

It8217;s been very, very exciting.

You were formerly head of Texas Instruments in India. What would it take for someone with talent, technology, and limited experience, to start a tech company in India today?
It takes passion, a committed team, venture capital, differentiated products and expert marketing.

Silicon Valley is still seeing Indians start-up in the gloom of the downturn. Does it make sense for their compatriots here to follow suit?
Yes, but there are no short cuts. Everything that is applicable to starting a company in Silicon Valley is applicable here. If you do that, it is certainly possible.

You talk of a worldwide market of 9 billion by next year for the chips you work with. What are your actual sales today?
We do not intend to disclose sales numbers in the initial years of operation.

What if you fail?
There is simply no time to think of failure.