Silicon Valley is a special place, a place where dreams come true. What makes Silicon Valley different? Why is it so entrepreneurial? Why do start-ups sprout like weeds here? Innovation is the lifeblood of economies and of nations. GDP growth is often the result. Many other cities and countries have tried to copy Silicon Valley and yet no one has really been able to duplicate its success. This is an insider’s answer to these enduring questions.
At this point, entrepreneurialism has become ingrained in the local culture. My daughter, who is in elementary school, does not have an annual science fair. Her school has an Invention Convention. The children are not only expected to invent something that makes their lives easier or better, they are expected to write a simple business plan as part of their projects. This is 2nd grade in Silicon Valley! Recently, I attended one of the more popular professional events held in Silicon Valley – Tech Titans of Tomorrow. The title may be a misnomer as these teenagers are more apt to be referred to as Today’s Teen Titans. This annual event invites teenage entrepreneurs to talk about their organizations and their products, and concludes with a session where the teenagers pitch their products to investors for funding. At this year’s event, one 17-year-old raised money to start an investment fund that is targeted at providing funding to teenagers to turn their product ideas into a reality. Another teenager received a grant to install centralized energy monitors into local schools so administrators could see which rooms and equipment were creating their huge energy bills; the result is a $5,000 per year savings on their electric bills for each school. Yet, another had started his first company at age 11 and had started three companies by the time he entered college – a lawn service, an company making accessories for handheld PDAs, and an IT services firms helping what he termed “old people like my parents and grandparents” with their computers and mobile devices. Yet another teenager was proud that he had one of the top iPhone applications.
To read the full, original article click on this link: What Makes Silicon Valley So Special For Entrepreneurs, Start-Ups, and Innovation? » Wisepreneur
