Indian companies like Seclore regard Israel's tech sector as an inspiration when it comes to raising funds. Photo: Twitter

Indian technology entrepreneurs are citing Israel as a key inspiration as they seek funds from Silicon Valley investors to develop the next generation of Indian tech firms.

Speaking to the Wall Street Journal, Abhijit Tannu, co-founder of Seclore, which develops security software from its base in Mumbai, drew a comparison with Israel, whose “influential diaspora” has “helped Israeli software makers gain a strong foothold in the U.S.” Tannu regards that as a model for Indian companies, as the “India technology community in the U.S. is pretty strong and fairly well-connected.”

Another entrepreneur argued that if tiny Israel can punch well above its weight in the technology sector, then so can India.

“If Israel can do this, with just eight million people, why can’t we do it? I think it’s a pride issue,” said B.V. Jagadeesh, managing partner at venture capital firm KAAJ Ventures, who is involved in The Indus Entrepreneurs, or TiE program, which aims to tap the huge presence of people of Indian origin in major technology firms in the United States.

Jagadeesh said that half of the companies that are founded and funded in Silicon Valley are founded by Indian entrepreneurs, which shows the knowledge and expertise in India, the Journal reported. He said the timing of the TiE program comes at a time when entrepreneurs in India want to do more than just create outsourcing firms.