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March 14, 2001
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Money > Business Headlines > Report March 14, 2001 |
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KPMG woos young entrepreneurs of Silicon ValleyBS Bureau KPMG LLP, US, has stepped up its efforts to associate with young entrepreneurs in the Silicon Valley in new technology areas, said Sridar A Iyengar, partner in charge of emerging business practice, KPMG LLP. Iyengar, who was in Calcutta to address the local 'The IndUS Entrepreneurs (TiE)' forum, said KPMG LLP which now retains statutory auditing, tax, accounting and assurance services, will forge stronger ties with smaller technology companies in the Silicon Valley. "We are laying emphasis on catching them young," Iyengar said. KPMG's participation with technology firms promoted by non-resident Indians will help it pass on its clients' projects to its arm in India, which is seen as a hub for back-office activities of US firms. "Technology will create additional products and newer markets. The Internet is yet to touch newer areas such as education. This in turn will spawn new collaborative tools and software, which will reduce customer choice and increase convenience of using technology. Everything around us will have the opportunity to be connected to it at all times through the "Evernet." The Evernet will be connected to everything starting from the fridge, car, cellphone, PCs etc," he said. Iyengar said the current downturn in the ICE sector in the US would begin to change by the end of the current year. Regarding the slowdown in US economy and the downturn in the software industry in India, Iyengar said, "Many of the software projects carried out by Indian firms in the US are based on long-term contracts and hence have no reason for concern. Also, there are some strategic projects which firms feel need. However, the first casualty will be those projects which can be put on hold." Iyengar said India now had matured to the extent that entrepreneurs from the country should think of next generation technology and applications in line with the potential of the talent India has.
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