For many people around the planet, California has become a place of longing. Sun, sand and sea attract countless tourists to the state every year. Then there is the fascination that the film industry exudes. But that’s not all. For decades, people created innovations here that changed the course of the world a little later. That is true, at least from a technical point of view. It is not for nothing that everybody regards Silicon Valley as the world’s leading breeding ground for innovation.
This cluster of innovation has long been considered a role model for numerous imitators. The interfaces between business and science ensure that sensational inventions regularly pop up and subsequently conquer the world markets. So it’s no wonder that the tech giants all have their headquarters here. These include Apple, Google, eBay and Facebook, as well as Electronic Arts and Cisco. Stanford University is undoubtedly partly responsible for this development.
Science And Business Work Hand In Hand
For more than ten years, it has been among the top three universities in the world. It relies on close cooperation with business and gives its students the perfect opportunity to turn their knowledge and ideas into reality. You can find Silicon Valley in the San Francisco Bay Area’s southern port. Around three million people live here, up to 2.2 million people work in the high-tech industry and keep the digital world moving.
The name Silicon Valley goes back to the journalist Don Hoefler. He first used the term in a series of articles in 1971. Today, the Valley is also considered the cradle of digitization and the Valley of unlimited possibilities. You can find here four of the world’s most visited websites, as are many of the world’s most important high-tech companies. No fewer than 20,000 start-ups try to conquer the world from here. Another statistic shows how great the supremacy of the Valley is.
For the state of California, this supremacy is, of course, essential. That is where the majority of business angel investments take place. Around 40 per cent of all IPOs and more than a quarter of all company takeovers can be traced back to Silicon Valley. Six of the US’s most valuable companies come from here. This economic power is impressive and attracts founders from all over the world. They hope to find enough investors from here to be able to implement their ideas afterwards. The gross domestic product is enormous and amounts to several hundred billion dollars. Only in Zurich and Oslo is the per capita gross domestic product even higher. As if that weren’t enough, Silicon Valley also has an excellent infrastructure. There are three international airports here.
So it is not surprising that a large part of the risk capital flows into the Valley. All attempts to divide this up better have failed in the past. The attractiveness of the bundled knowledge and the unbridled innovative strength of Silicon Valley is too great. That also attracts the best workers in the world. At least half of the population speaks a second language here. Around a quarter of the employees come from abroad. Given these prerequisites, you can assume that Silicon Valley will remain a leader in innovation in the future.