Category — Human Resources

OCTANe: SoCal Leads in Job Creation and Med Tech Jobs

According to U.S. Dept. of Commerce data compiled by OCTANe, an Aliso Viejo CA-based organization, Southern California in recent years provided the highest level of job growth in the medical device secttor.

Bill Carpou, OCTANe’s president and CEO, presented the statistics during his welcome address at the Medical Technology Innovation Forum. Los Angeles, Orange County, San Diego employed 33,820 people, outpacing other medtech hotbeds such as New York, Northern California, Minneapolis, and Boston:

  • Southern California : 33,820
  • New York: 18,130
  • Boston: 15,204
  • Minneapolis: 14,043
  • Northern California : 11,093

In addition to existing jobs, the region also saw positive job creation. The region created 3,839 jobs. By contrast, other regions actually lost jobs. New York dropped over 6,000 jobs, Northern California lost more than 5,000, Boston lost around 3,000, and Minneapolis lost about 1,000, as depicted in the table below:

Medtech job creation for the two-year period ending 2016. [Data from U.S. Department of Commerce, courtesy of OCTANe]

Medtech job creation for the two-year period ending 2016. [Data from U.S. Department of Commerce, courtesy of OCTANe]

OCTANe also found that the SoCal region filed 365 patents, only slightly outpaced by Northern California which saw 437 patent filings.

OCTANe announced its commitment to long-term job creation in Orange County and has pledged to help create a total of 22,000 jobs by 2025. It also plans to fund 506 companies, participate in 39 liquidity events, and infuse $3.6 billion in capital into regional medtech companies.

November 14, 2017   No Comments

WeWork Expands to India

Miguel McKelvey, co-founder and chief creative officer of the $20 billion New York-based collaborative workspace startup WeWork, discussed his business in India with Forbes’ India staff Anshul Dhamija.

McKelvey said that in India WeWork had entered into a partnership with the Embassy Group. They launched operations in the beginning of this year and had close to 350,000 square feet of shared workspaces in Bangalore and Mumbai. “India’s probably the biggest market for us,” says McKelvey.

The concept of sharing a workspace with diverse set of professionals and enterprises is new in India and is catching on. WeWork gives access to discounted health care services, payment processing for their companies, IT support, education and training, to all its members.

When asked to comment on what opportunities India offers, McKelvey said: When we first came here, or thought about coming here, it certainly felt a bit overwhelming because it’s such a huge place and the culture is so diverse, varying from city to city and state to state. So having a partner is essential in understanding the local culture and also gives us credibility in the market. India’s probably the biggest market for us. While we are super excited to be in Japan, Australia and Europe, we are talking about hundreds of millions of people here in India. I think this is a place that, in the upcoming years, will play a major part in the way the world economy develops. For us to be here now is an incredible opportunity.

Inside an Office

October 29, 2017   No Comments

Indian American Population Approaches 4 Million

The Pew Research Center, a nonpartisan American think tank based in Washington, D.C., published key facts on social trends among Asian sub groups in the U.S. based on research conducted from 2000 – 2015.

Listed below are some key findings on people originating from India:

  • The Indian population in the U.S., in 2000 was 1,900,000 and in 2015 it was 3,982,000.
  • 80 percent of Indians ages 5 and older are proficient in English.
  • Educational attainment of the Indian Population in the U.S. in 2015
Category High school or less Some college Bachelor’s Degree Postgrad Degree
All 17% 10% 32% 40%
U.S. Born 12% 14% 33% 41%
Foreign Born 18% 10% 32% 40%
All Asians 29% 20% 30% 21%
All Americans 41% 29% 19% 11%

graduate

  • Economic characteristics of U.S. Indian population, 2015
Among ALL Indians in US Among US-Born Indians Among Foreign-Born Indians
Median Annual Household Income $100,000 $85,000 $100,001
  • Top 10 U.S. metropolitan areas by Indian population, 2015
Metro Area Indian Population
New York 666,000
Chicago 214,000
San Francisco 174,000
San Jose, CA 165,000
Washington D.C. 158,000
Los Angeles 153,000
Dallas Fort Worth 145,000
Houston 125,000
Philadelphia 108,000
Atlanta 105,000

 

October 4, 2017   No Comments

3 Indians on Forbes’ ‘100 Greatest Living Business Minds’

As part of Forbes’ 100th anniversary celebrations, the publication unveiled its special centennial issue, which incorporates essays, lessons, and ideas for the next 100 years from the world’s renowned living business thinkers.

“The list speaks to a century of entrepreneurial capitalism compiling the doers who have created, disrupted, and innovated on a collectively historic scale. All honorees were required to actively participate in the project – all essays are original, capturing wisdom from the list-makers themselves,” Forbes said in its statement.Forbes@100Ratan Tata, former chairman of India’s Tata Group —which owns brands such as Land Rover, Taj Hotels, and Tetley Teas— said: “Be passionate in areas relevant to you, and be a voice that is respected and abreast of developments.” Tata lives in Mumbai, India

Lakshmi Mittal, chairman and CEO of Arcelormittal, the largest steelmaker on Earth, shared his insights: “Every industry today has to fight complacency, prepare to see the disruption coming and then be flexible enough to adapt swiftly.” Mittal is an Indian citizen but lives in the U.K.

Vinod Khosla  venture capitalist, former  co-founder of Sun Microsystems, commenting on ‘reputation’ said: “I explicitly don’t build or guard my reputation. I believe in telling it like it is and not worrying about it.” Khosla is an American citizen and lives in the Silicon Valley.

October 3, 2017   No Comments

India Jumps to 14th Spot as Best Country for Expats

In HSBC’s latest ‘expat explorer survey’ that covered 27,587 expats from 159 countries and territories in March and April this year, India moved up the global rankings by 12 places to take the 14th spot in terms of best country for expats to live and work in.

“India draws many expats for work and financial opportunities, but new arrivals here often find their family life improves significantly too,” the survey found. The country has also emerged among the top 10 countries among expats for professional development, reports Money Control. “The number of resident expats who recommend the country for career progression has increased by 12 percentage points since 2016 to almost 63 percent, placing it seventh in our ranking for career progression,” HSBC said.

Architecture in Jaipur

48 percent of expat children easily made new friends according to their parents, ranking India third in the world for this parameter. With an average $176,408 gross personal income per year — one of the highest in the world — over 50 per cent of the expats said India is a good place to start a business.

 

September 30, 2017   No Comments