In another achievement for the south asian community in USA, Arjun Gupta, an Indian origin venture capitalist has been made the chairperson of the Federal Investment Capital Advisory Committee or the ICAC. ICAC is a newly established organization to ensure accessibility of funds to smaller businesses in the United States.
This committee will act as an advisory board to the U.S. Small Business Administration (SBA), which directly communicates with the Biden cabinet. The move is directed to allow diversity and create a more inclusive eco system for all kinds of businesses.
There are more than 3.3 million small businesses in America which rely on funds and investments from venture capitalists and hedge fund managers. The primary aim of the ICAC would be to ensure a smooth process for the businesses. It would create a more accessible environment.
Appointment of Arjun Gupta is going to boost cultural diversity in the business ecosystem. Arjun graduated with a BA(hons) in Economics from St Stephen’s College in New Delhi. He later went to the USA where he did BS and MS in computer science from Washington State University and his MBA from Stanford.
