Strategy Session

Many chip and computer company executives complain that there aren't enough college kids becoming engineers, which they say could cost the U.S. its technological lead. Then we have the executives at many technology companies, including Intel, Motorola and Qualcomm, who say the U.S. should offer more work visas for noncitizens to improve our competitiveness. Many of these bright noncitizens are receiving stellar educations at some of our topflight colleges and universities. Why not reap the benefits of their brain power and let U.S. companies hire them and let them stay inside the country?

Well, why not instead challenge our young generation to come up with some innovative ideas, showing the rest of the world we are technological leaders?

Y Combinator, a company in Silicon Valley that gives money to fledgling start-ups, is doing something innovative itself along these lines. The company imports several startups for three months of “intensive entrepreneuring.” This week’s Newsweek profiles Y Combinator (“Meet the next billionaires”), calling what it does “American Idol” meets Wired magazine.

The company specializes in funding early stage startups, and because Y Combinator executives are tech geeks, they say they prefer groups with “a lot of technical depth.” As they say on their web site: “We care more about how smart you are than how old you are, and more about the quality of your ideas than whether you have a formal business plan.” Now if that isn’t a successful recipe for getting the best and brightest (and the young) inside your doors with great ideas, I don’t know what is.

I think it’s ironic that industry executives are quick to complain about the lack of new blood coming into the industry and want to hire noncitizens to help us stay on top when instead they should be coming up with some innovative ideas of their own to entice the next generation to join their ranks. I'm not saying we shouldn't hire noncitizens, but let's not give up on own own best and brightest.

Isn't it partly the responsibility of the tech industry to make it attractive for the up-and-coming generations to want to join its ranks? Got any bright ideas on how companies can do this?