Good Points! Well written article. I constantly write about creating an entrepreneurial eco-system in India. And having spoken to entrepreneurs, VCs, angels and CEOs of incubators in India, I realize that the problems lie in the attitude. Entrepreneurial mindset is great to have but difficult to pursue. Educational institutes and eco-socio-cultural background play a very important background. US has a distinct advantage over India. India historically being a weaker economy that has risen up the ranks from Feudalism, the entrepreneurial attitude has remained only in selected communities. With MNCs opening up offices in India, the universities now have curricula whose only aim is to guarantee jobs to students. So the mindset to sacrifice big pay check for few years and embark on a cash strapped venture is missing. Government needs to play a big role in fueling the passion. Incentives must be there for entrepreneurs and investors. Red tapes have to go away.
So my take is, attitude, education, socio-cultural background coupled with the eco-system of coopetition, VCs, angels, incubators, research labs, a progressive Government initiative etc. will trigger growth.