Opinions
Entrepreneurs HE David I Adelman
Ambassador for United States of America
Speech by HE David I Adelman, Ambassador for United States
company taking cargo to the International Space Station
of America at the SICCI-DBS SIEA Awards Launch 2013.
with designs on a manned mission to Mars. Corporate
I am honored to be speaking before such an esteemed group of intellectuals, analysts, businessmen – and most importantly this evening – entrepreneurs. Thank you for the gracious invitation by SICCI to join this event to recognize Indian entrepreneurs in Singapore. I am especially thrilled to be on the same program as my good friend Piyush Gupta who so impressively leads DBS.
America and Americans have long benefitted from such risktaking immigrant entrepreneurs. Today, Silicon Valley is the heart of America’s entrepreneurism and its first generation American community from India is one of our most active and successful groups. In fact, studies have shown Indian immigrants launch 1/3 of all tech start-ups – the highest percentage for any group by far. Vinod Khosla who started Sun Microsystems and Sabeer
Entrepreneurs Peter Drucker said, “Innovation is the specific instrument of entrepreneurship...the act that endows resources with a new capacity to create wealth.” Innovation is the life blood of America – and America is the most entrepreneurial society on earth. We have developed
Bhatia who invented hotmail were individuals with an idea. And with that idea, they not only created successful products, they revolutionized their industries and changed the world.
Just last month, the White House honored 3 IndianAmerican entrepreneurs with the prestigious Champions of Change awards.
our culture of entrepreneurship by encouraging risk-taking.
The Indus Entrepreneurs (TIE) organisation in the US
Central to our encouragement of risk taking has been
has fostered budding entrepreneurs since 1992 and has
America’s diversity.
now become one of the largest global non-profits for
The U.S. Small Business Administration found that
entrepreneurship development.
entrepreneurs employ more than 50% of the private
I commend the SICCI-DBS Singapore Indian Entrepreneur
workforce in America and generate more than half of the
Awards initiative, the award recipients, and all the current
nation's gross domestic product. Indeed, entrepreneurs are
and future entrepreneurs in attendance today.
the principal source of new jobs in the U.S. economy. 70 million immigrants have come to US since the first
Shared interests
colonists arrived. They have been critical to our economic
I am proud to say that the United States has built our
development, and innovation. The stories of American
friendships in Asia based on common values including the
entrepreneurs are countless. From Benjamin Franklin and
shared belief that every person has the constructive potential
Thomas Edison in the earliest days of our Independence.
to improve the world if they are given an opportunity and
Most often, our entrepreneurs have been our newest
an environment to take risks and dream big dreams.
citizens. Through the newly immigrated, French-born founder of DuPont who started out selling gunpowder in the early 1800s to Hungarian-born Andy Grove, the co-founder of Intel. South African born Elon Musk who founded Paypal
This is how it should be for a Pacific nation such as the United States. Our geography, our history, our economy and our culture are inextricably linked to Asia.
and is now leading Tesla the most innovative manufacturer
Before I conclude, I’d like to update you on the state of US-
of electric powered vehicles and SpaceX which is a private
India commercial relations.
6 SICCI Newsletter - July 2013