If we want to develop an innovative society we need look no further than Silicon Valley which is the most successful example on earth.Silicon Valley has key attributes which are key to its success in generating billions of dollars in revenue & employing millions of talented Engineers who earn enviable salaries. These attributes are not immediately obvious:-
- It may surprise many to learn that Silicon Valley has a strong military connection particularly with the U.S Navy, many early innovations were as a result of collaboration on Radio & communications systems leading to the Arpanet the direct forerunner of todays Internet.
- The presence of an Internationally renowned eduction establishment – Princeton – has been key to the ‘Valleys’ success. Princeton has developed & encouraged technically educated entrepreneurs to start & grow numerous successful enterprises.
- People may be surprised to learn that Silicon Valley is the home to numerous large Law firms who’s accessibility has allowed start ups to quickly resolve disputes & grow rapidly.
- Over 30% of residents are immigrants. The ability to welcome International migrants who are highly skilled & educated creating a multinational society of entrepreneurs & Engineers is a key component to success.
- There are many Venture Capital firms in the area which provide key access to funding to ensure prosperity & growth.
All of these key components are essential if an Innovative Society is to thrive & grow generating huge revenue & employment prospects.