Where's OUR Silicon Valley?
The Register has an interesting post asking where the UK's Silicon Valley is and why something even somewhat comparable to California's doesn't exist there. This has been written about so often. I even wrote a while back why I believe Europe in general doesn't have any real "Valley" or any such "vibe" fairly tongue-in-cheek. Yet, these stories will continue coming back. Every wave in the market will lead to us seeing "everyone else" asking why they can't get a piece of the pie. Well, it's pretty simple. As long as people can easily pick up and relocate to the Valley (the real one) then there surely is no incentive elsewhere for it to establish itself. (Now again, I am talking about the Valley as a thing, a feeling, a vibe, etc. since you really can't define "Silicon Valley" simply in geographic terms.)
YET, here's the question: do you really need to establish a "Valley" in your geography? I think the term is hyped more than most companies during the late 90's bubble. I also believe the term itself has been so misconstrued at times that people forget what it is that makes the Valley. A combination of sun, Stanford, other start-ups, VC's, successful entrepreneurs, business angles, etc. I don't know about you, but I'm seeing more and more of this combination in Europe as well. OK, we don't get as much sun in Hamburg, but there are ever more of the other factors present. There also isn't one place offering all of this. There are multiple areas where start-ups cluster. This is a good thing! Let me repeat that: this is a good thing! I myself enjoy a bit of diversity. I also like entrepreneurs who believe there is more to the world than just the Valley. I also like to see companies addressing other cultures and languages from day one and not as an afterthought. Why do we see more and more US guys investing in Europe (after having swamped India and China before that)?
I think Europe is evolving as a "Valley". Are we where we want to be yet? No, it will take time and the best indicator will be more exits with higher valuations. Should we be patient? Of course! It doesn't make sense to think great exits will only take place if you're in California.
