American entrepreneur and venture capitalist, Robert A Compton, has predicted that Chinese entrepreneurs will soon be poised to dominate many of the leading industries of the 21st century to the detriment of the rest of the world’s jobs base.

“This year next time, China will pass India in English speaking, the country is growing that rapidly,” Compton told Financial Chronicle. Compton was here in India to meet the media to spread awareness about his documentary Win in China.

“China is winning the global race to create the most entrepreneurial economy on the planet. Their investments in entrepreneurial infrastructure dwarf India’s, America’s and the European Union’s,” he says.

Compton, a Harvard business graduate, told Financial Chronicle that he has invested $ 1 million in China in the alternative energy, wind power sectors and is looking at further $ 3 million in investments there in a year’s time.

Compton has already invested $ 3 million in India in software and education, and is also looking at investing in the range of $ 50,000 to $ 5 million in the software products services.

He warns that the rest of the world is underestimating the pace of China’s economic boom.

In Zhongguancun, a central government funded Chinese research park, a new company is formed every 4.6 days. The park hosts and incubates 21,000 companies. China has 112 million people engaged in planning, starting or building new ventures, according to the Babson University and London School’s Global Entrepreneurship Monitor.

“Unlike the US or India, the Chinese government does not focus on specific sectors. They encourage setting up ventures across the board. There is definitely less red tapism for budding entrepreneurs in China than India,” the venture capitalist adds.

In the 30 years since Mao’s death, China has evolved from deep poverty to the second largest economy in the world — quietly lifting 400 million people out of abject poverty, becoming America’s largest creditor, amassing a $ 2 trillion foreign currency reserve and aggressively acquiring access to raw materials around the globe.

Compton, has teamed up with award winning filmmaker Ole Schell to bring the story of China’s entrepreneurial explosion to the screen. Win in China is a documentary about entrepreneurship in China.

For the first time, westerners see Chinese capitalism in the rawest form. “The documentary will educate politicians, potential investors and budding entrepreneurs on how China is surging forward,” Compton explains.

The documentary is based on a reality show in Communist China where over 120,000 entrepreneurs compete for prize money in excess of $ 5 million with the winner receiving nearly $ 1.5 million to invest in their new business plan – more than what Western counterparts offer.