Take a government renowned for red tape and an infrastructure famous for inefficiency. Add to those a business culture struggling to escape its predigital mom-and-pop era--and you have a formula that is hardly likely to appeal to a tough-minded American venture capitalist at the top of his game. But there was another side to the equation that led Norman Prouty to head for India three years ago. By his calculation, 40% of all successful high-tech stock IPOs in Silicon Valley were floated by Indian entrepreneurs. Why not go to the source of all that talent and help it reach its full...
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