MI Indians - Vinay Gupta of Ann Arbor

Looking to start your business? You might want to take some pointers from Indian American Vinay Gupta (46) of Ann Arbor, MI. Katherine Yung of Detroit Free Press writes that Vinay Gupta

is one of Michigan's most successful serial entrepreneurs, but few people outside the venture capital community know of him because Michigan has traditionally embraced auto barons and car guys, Gupta represents a different kind of future.

In 2000, at the height of the Internet bubble, Gupta and his partner, Hal Davis, sold their Ann Arbor online bill payment software company, BlueGill Technologies, to CheckFree Holdings Corp. for $250 million.

Today, Gupta is hoping for another big hit with Janeeva, which makes software that helps Fortune 500 companies manage their outsourcing relationships. It's named after Geneva, the Swiss city famous for its neutrality, because the software acts like an independent third-party tool.

Gupta grew up in New Delhi, India, and first came to the United States in the 1980s to earn a business degree.

"I love the environment in Ann Arbor," he said. "The university adds so much value."

But he admits, "These days in Michigan, it's become harder finding money and customers. As an entrepreneur, you go where the money is."

Though Gupta is neither an engineer nor a software developer, he's fascinated by how technology can be used to solve business problems.

To dramatically increase venture capital investment in Michigan, Gupta says the state needs its own version of Google or Dell, a company so wildly successful that it becomes a household name.

"You need one big success," he said.

Gupta also believes Michigan can help foster a more entrepreneurial culture by providing incentives for large companies to buy products and services from local start-ups. Another idea: hold forums for start-up businesses to meet with potential customers.

So what does it take for a person to make it as an entrepreneur? "Persistence," Gupta says.