Asian-Americans drive Silicon Valley innovation

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PALO ALTO, U.S. – For millions of people around the globe, daily life is now dominated by the U.S. tech sector. Facebook is a primary communication tool for many, while iPhones or smartphones running Google’s Android operating system are the go-to handsets in many parts of the world. The virtual reality buzz created by Oculus, meanwhile, is making waves as far away as China.

Silicon Valley, the heart of the U.S. tech industry, owes much of its impressive global reach to the Asians and Asian-Americans. Asians are already the largest ethnic group in the Valley, and are expected to make up 43.5% of the population in the region in 2040. With Asia’s own tech sector on the rise, having an Asian background can open up vast opportunities for U.S. businesses.

Gavin Teo, partner at venture capital firm B Capital Group, has experienced the benefits firsthand. “The nature of venture capital is you deploy capital into private companies. The business of venture capital is raising money,” said Teo, who was born in Singapore and grew up there and in Hong Kong. “I think having an international outlook and having a background in Asia, being able to go back and being able to speak Mandarin and Cantonese just allows you to access a broader pool of limited partners, as well as a broader pool of potential investments.”

http://asia.nikkei.com/Business/Companies/Asian-Americans-drive-Silicon-Valley-innovation