During the Second World War, the United States found an advantage against the Axis through electronic warfare. The leading initiative was the top-secret Harvard Radio Research Lab, lead by none other than Fredrick Terman of Stanford University. Often called “The Father of Silicon Valley,” Terman became known within the U.S. government for his engineering abilities. This allowed him to attract the brightest minds to come work with him at Stanford. Throughout the Cold War, Stanford came to be trusted by top government agencies in engineering matters.
With more talent moving out to Silicon Valley, Terman invoked a culture at Stanford where failure was accepted and students were encouraged to start companies. When students William Hewlett and David Packard approached Terman with a business idea, he encouraged them to pursue it. Soon, “The Other Father of Silicon Valley,” William Shockley, founded Fairchild Semiconductor in none other than Silicon Valley. Known as the first venture capitalist-backed startup, Fairchild went to employ great minds such as the founders of Intel.
It is because of Terman, Stanford University, and the U.S. government that an entrepreneurial spirit has been instilled into the culture of Silicon Valley. How has The Valley kept its prestige throughout all these years? Silicon Valley is still composed of distinct characteristics that make it a top location to launch a venture.
Silicon Valley has a unique culture of accepting failure and pursuing innovation. In The Valley, it’s better to innovate and go after crazy ideas than to hold yourself back from fear of failure. Failure is expected to happen when launching a venture. What sets apart a successful entrepreneur is his or her capability of dealing with that failure and continuing to launch their ventures in spite of it.
Access to network
Over the years, Silicon Valley has attracted hundreds of thousands of hopefuls working to make it in the business world. As such, this influx has been accompanied with another large influx of venture capitalists, mentors and investment firms. With a network this large, entrepreneurs have access to a huge amount of capital as well as a grand network of people willing to help in Silicon Valley.
Besides the atmosphere of an area vibrant with creativity, Silicon Valley has the best weather. Mid 70s, clear skies, and sun all-year-round make this area attractive to live and work. Perhaps the fighting entrepreneurial spirit is strengthened by the cheerfulness and optimism felt on a beautiful day.
With Stanford leading the way, Silicon Valley is full of young students and recent graduates who are eager to experiment and try something new. University is where students are able to explore and discover who they are, along with what they are going to pursue in their lives. There’s no better atmosphere to be an entrepreneur than with fellow students who are just as creative and open-minded.
From its humble beginnings back in WWII, Silicon Valley has grown as a startup ecosystem that is 3x bigger than New York City and 4.5x bigger than London, its two main competitors. With its unique history and “change is good” attitude, Silicon Valley has not only differentiated itself from other startup ecosystems, it has become an example of just how powerful a startup community can be.
While South Florida has yet to reach the same level of prominence as Silicon Valley, it is still one of the best up and coming communities for startups and entrepreneurs today.
Get in touch with Startup Palm Beach today and discover countless opportunities to get involved, find mentors and secure funding.