Silicon Valley or Demand Mountain?
Everyone wants to know how to build the next Silicon Valley: an innovation hub that draws talent and capital and creates jobs, companies, and whole new industries. But most schemes are missing the state-sponsored demand that was essential to Silicon Valley's birth and growth.
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BELLEVUE, WASHINGTON – Everyone wants to know how to build the next Silicon Valley: an innovation hub that draws talent and capital, and that creates jobs, companies, and whole new industries. Developed-country governments scramble to subsidize technology that could be the Next Big Thing. Emerging-market policymakers hope that incentives like tax breaks and free land will induce innovators to settle and prosper there. But most of these well-meaning schemes are missing an essential ingredient: demand.