How The World Is Taking On Silicon Valley

By Connor D. Wolf
InsideSources.com, Washington, D.C.

WWR Article Summary (tl;dr) While it is unlikely that Silicon Valley will be overthrown as the tech leader around the globe, the world is becoming increasingly competitive. This article takes a look at cities focusing on entrepreneurship in new and innovative ways.

InsideSources.com, Washington, D.C.

Silicon Valley has been at the forefront of innovative tech, but regions around the world are hoping to emulate and surpass it as an entrepreneurial superpower.

The San Francisco Bay Area is home to some of the most successful tech companies in the world. It’s also the starting point of countless startups and innovative ideas. The valley has exemplified what it means to be a successful tech center, and now regions around the globe want their own shot at the top.

“We can name New York, London, Los Angeles, Tel Aviv, Beijing, Bangalore, Berlin, London, Singapore as top startup cities besides Silicon Valley,” Mustafa Ergen, a professor at Koç University in Istanbul, Turkey, told InsideSources. “Seoul, Barcelona, Dubai, Istanbul, Rio, Dublin are few more to cite as thriving.”

Silicon Valley and other successful tech hubs have similar characteristics that have helped them thrive. They all have an entrepreneurial culture, investors, and the right infrastructure. The Valley has been successful because it mixes a very entrepreneurial culture with eager investors.

“Today, most of the developed and developing countries are active to promote the entrepreneurship,” Ergen, who teaches entrepreneurship and technology management, said. “We are in the entrepreneurial economy and past information economy that succeeded industrial economy. New era requires entrepreneurial mindset, execution capability, and venture capital.”

Education and training is also another critical component behind successful tech centers. A tech center needs people with advanced computing and engineering skills. Silicon Valley has used foreign work programs to fill its skill gap, but regions around the globe are structuring their education system around those sought after skills.

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