Obama lauds Indian American couple for entrepreneurial skills
US President Barack Obama lauded an Indian American couple for their entrepreneurial skills and gave them the honour to share the stage with him at an event in the White House this morning.Updated: Jun 11, 2010 22:08 IST
US President Barack Obama lauded an Indian American couple for their entrepreneurial skills and gave them the honour to share the stage with him at an event in the White House this morning.
"It's the promise of America that led Prachee Devadas to come to this country, become a citizen, and open up what has become a successful technology services company," Obama said in his remarks at the Rose Garden soon after a meeting with a group of small business owners."
Prachee told me that when she started, she had just one employee. Today, she employs more than a hundred people -including her husband Anand who is here," Obama said referring to the Indian American couple who were standing by his side at the Rose Garden.
Prachee Devadas is president & CEO of Synergy Enterprises, while Anand Devadas is its vice president. Synergy Enterprises Inc (SEI) provides information technology and management consulting services to local, national, and international clientele in the public and private sectors.
Before starting SEI, Prachee Devadas worked for small companies gaining experience in business development, managing multimillion-dollar contracts while providing professional services in training and technical assistance, publication development, grant review and conference management.
"Historically, small businesses have created roughly two out of every three new jobs in our country. To replace the millions of jobs lost in the recession, we need to make sure small companies are able to open up, expand, and add names to their payrolls," Obama said.
"But ensuring that small businesses can thrive is about more than our economic success. It's about who we are as a people. It's about a nation where anybody with a good idea and a willingness to work can succeed. That's the promise of America. It's that promise that has drawn millions of people to our shores. It's what drives workers to become their own bosses. It's what propels basement inventors to bring their concepts to market," he said.
Prachee arrived in the United States in 1986 after receiving her bachelor's degree in economics from the University of Pune. Since inception, Synergy Enterprises, has grown from 1 to over 120 employees and was named among Washington Technology's 2008 top 25 small contractors.
Obama also asked the US Congress to swiftly approve a set of tax breaks and lending incentives to spur hiring and growth of small businesses. "This legislation will eliminate capital gains taxes for investment in small firms, which will help move capital to these companies across America. And it will provide tax relief to small start ups to encourage folks to open up businesses, too," he said.
First Published: Jun 11, 2010 22:04 IST