A Shore Thing? Many startups are sending jobs overseas. But does offshoring help or hurt business?
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Fieldglass, a multimillion-dollar software solutions company, built an offshore outsourcing component right into its 30-page business plan that landed on investors' desks when the company was first starting nearly five years ago. Four months after opening its doors, the Chicago-based firm began outsourcing parts of its software development to an outfit in Mumbai, India.
"Today's savvy investors expect a technology CEO to have built an offshore outsourcing model into [his or her] business plan," says Fieldglass co-founder and CEO Jai Shekhawat, 42.
Based on the half-dozen business proposals that come across Synerzip CEO Hemant Elhence's desk each month, "2 out of 5 founders are now very interested in outsourcing software development offshore from Day One. Ten years ago, no startup ever thought about doing development offshore," says Elhence. The Dallas-based firm provides offshore software development services to early-stage companies that typically receive VC funds.
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