Silicon Valley is renowned for being the epicenter of innovation and technology – it is the birthplace of the Big Four (Google, Apple, Facebook, Amazon), home to prestigious teaching and research institutions (Stanford, UC Berkeley and UCSF), and has a strong startup ecosystem. The dynamic entrepreneurial spirit in Silicon Valley embraces collaboration and risk-taking which has enabled groundbreaking business models to emerge, shaping our world and our everyday lives.
#1 Innovation Hub
Three factors make Silicon Valley the number one innovation hub: venture capital, innovation and research & development (R&D) centers, and market disruption. In 2019, startups in the region have attracted 44% of new funding out of the entire USA ($45.9 billion). While most of the tech giants (Google, Uber, Airbnb) have established their headquarters in Silicon Valley, other Fortune 500 companies, such as Boeing’s HorizonX, have strategically decided to place their innovation and R&D labs here. It is also home to the most concentrated number of unicorns – startups valued at over 1 billion, with a total of 88 in the region.
Switzerland’s Innovation Outpost in Silicon Valley
swissnex San Francisco is the Swiss innovation outpost located on the West Coast of North America. swissnex SF, initiated in 2003, connects people and ideas from Switzerland and North America. They work with academics, artists, startups, and corporates by co-creating opportunities for interdisciplinary encounters through events, programs and various activities, and by scouting new trends out of the region. For details on how to get involved with swissnex San Francisco, visit their website: swissnexsf.org
In our next article Gioia Deucher, CEO swissnex SF, tells us what Swiss entrepreneurs can learn from Silicon Valley’s most successful startups. We look forward to building the “tech gate” with you.
Written by Sarah Chapatte, Communications Manager, swissnex San Francisco