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Goodbye Silicon Valley: why tech startups are flocking to megacities

Goodbye Silicon Valley: why tech startups are flocking to megacities | Pitch it! | Scoop.it


Not a week goes by in the world of tech without someone heralding the globe’s next Silicon Valley – from New York City to Norwich, London to Lagos, the list goes on.

But the real story here is not the next Valley, it’s the death of the tech cluster as we know it.

To understand what makes a tech cluster we have to first look at what made the Valley a success.

It started with the founders; a concentration of white, middle-class, socially awkward geeks, inseparable from their Macbooks. Academic institutions such as Stanford support the ecosystem and that attracts the next generation of Larry Pages.

If you have ever tried to visit the likes of Apple or Google in the heart of Silicon Valley you will know it is not an easy place to get to.

Back in its heyday, the Valley’s isolation from the rest of the status-quo of banks, big business and city life allowed it to thrive, think bigger and build world-changing companies. It gave us game-changing technologies from the semi-conductor all the way up to Apple’s array of iconic iDevices.

But, in time, disruption became inevitable.

In the new wave of tech centres no other city has raced ahead of the pack with this trend like New York. I recently sat down with the city’s former mayor Michael Bloomberg during London’s inaugural Technology Week where he told me he is bullish about the potential for both New York and London to overtake the incumbent Valley: “To be a leading tech city you need the infrastructure, you need the environment to attract people and you need a diversity of people. London and New York have that. Silicon Valley does not”.

Bloomberg is referring to the big picture. It is no longer enough for tech startups to exist in silos of isolation. Tech businesses now need the energy, talent and diversity of the world’s megacities to thrive.

In the Far East many look to Hong Kong which draws upon decades of experience as a world financial capital. It also boasts unbeatable access to China, the world’s biggest market. In the past few years hundreds of startups have popped up and the city-state is now positioning itself as the leading place for foreign startups to relocate and gain access to Chinese talent and research and development.

This new generation of tech companies outside the Valley are less fixated with first-world problems like taking a selfie that looks like it has been taken with a vintage camera. These companies are disrupting centuries-old systems put in place by the establishment.

The key here is existing industries. It is far easier to challenge an existing industry like finance when it is right on your doorstep. You have access to the experienced talent, networks, suppliers, buyers and the entire ecosystem of that industry around you.

This trend is happening across industries. Stockholm may not have the same level of hype as many of its European neighbours but the figures speak for themselves: 6.5% of the world’s billion-dollar exits between 2005–12 were companies from Sweden. Again the majority of these success stories draw upon the city’s existing strengths in music, the arts and gaming.

This opportunity to apply the best of startup culture to existing industries is where much of the growth will come from in the next tech boom. This can only happen in the world’s megacities, which already attract young people looking to build exciting new companies.

Even in California, home to the Silicon Valley, startups are looking for the next thing and flocking to the big cities. Dating app Tinder has emerged as one of the biggest success stories to come out of Los Angeles’ burgeoning tech scene.

Despite being on the doorstep of the Valley, San Francisco has fast become a magnet for tech talent drawn to the big city. The shift away from the Valley has become so strong that the likes of Google and Yahoo based over 30 miles away operate shuttle buses to move employees back and forth to their campuses each day.

Isolated clusters cannot fight the tide of talent flocking towards the bright lights of cities. San Francisco’s expensive and unpopular commuter buses are perhaps the best sign of the times, while pundits obsess over the next Silicon Valley, the world’s megacities are marching ahead.

Alex Wood is the editor in chief of Tech City News

 

 

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Via Le Booster, Edouard Estour, Denis Liotta 
Marc Kneepkens's insight:

This is big for startups and the economy in general. Duplicating something like Silicon Valley over the rest of the globe will kickstart even more startup hubs and accelerate the phenomenon.

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How Can Startups Use The Power Of Social Media (Infographic)

How Can Startups Use The Power Of Social Media (Infographic) | Pitch it! | Scoop.it


"Startups face tremendous pressure while competing with their bigger counterparts. They neither have large manpower nor big infrastructure. Social media can become an effective solution in helping them grow. This infographic shows how startups should utilize the power of social media."

The Final Thought

As it has been pointed out in the infographic, startups should make it a point to utilize social media platforms in every legitimate way. Social media does not discriminate between a large business and a startup, and this is the point where startups need to capitalize on. No matter how tough the competition is, only a strong social media presence can provide a startup with a strong foundation.

So make it a point to devote at least an hour every day to manage the social media accounts, and be dedicated to the visitors. Update the content with recent news about your startup, and see your efforts getting the rewards.


Read more at http://www.business2community.com/infographics/can-startups-use-power-social-media-infographic-0726604#L2FYoovFhIdsVd2v.99



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Marc Kneepkens's insight:

This infographic definitely makes a point: startups have the tool of social media available to them. It puts them on equal footing with established businesses. Use it.

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US urged to foster startups

US urged to foster startups | Pitch it! | Scoop.it

When Twitter raised $1.8 billion in one of the largest initial public offerings last year, investors and entrepreneurs celebrated.Twitter’s public reception provided more capital for it to grow and add workers, stimulating the economy. It will create wealth for many more shareholders if the company continues to grow over time. And, coming a year after Facebook’s IPO, Twitter’s successful offering primes investors’ enthusiasm for future tech companies’ offerings.But Twitter’s achievement highlights something missing in the U.S. economy: Why aren’t there more Twitters?

To read the full article and see more charts, click on the title.


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Marc Kneepkens's insight:

Good point, the government needs to know how and where to stimulate the economy, and what better place to do that than with startups?

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Rescooped by Marc Kneepkens from Time to Learn
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How To Optimize Your Facebook Posts [Infographic]

How To Optimize Your Facebook Posts [Infographic] | Pitch it! | Scoop.it

In our newest infographic you can find some tips and tricks that can help you to optimize your Facebook posts to increase your Facebook performance.


Via Frédéric DEBAILLEUL
Marc Kneepkens's insight:

Startups, when creating your pitch you may want to use an infographic, visuals are great when you're telling a story, your story. Check out this article on improving your Facebook page, and pick up your Free Infographic template.


Need a Business Plan Template? Find it at my site, here is the link: http://www.business-funding-insider.com/free-business-plan-template.html

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sophiedesc's curator insight, July 6, 2013 5:47 AM

Petit récapitulatif en infographie 

Marc Kneepkens's curator insight, July 7, 2013 8:13 AM

Ever wondered who makes those Infographics? Here are some good tips for your Facebook page.


Need a Business Plan Template? Find it at my site, here is the link: http://www.business-funding-insider.com/free-business-plan-template.html

Jose Gonzalez's curator insight, July 7, 2013 7:02 PM

Not bad !

Thanks,

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9 Ways Virtual Reality Will Affect the Startup Scene

9 Ways Virtual Reality Will Affect the Startup Scene | Pitch it! | Scoop.it

t sounds like science fiction, but virtual reality technology is taking off. Not even the sky’s the limit for imagining what could be done with this technology. Just ask Google I/O 2014 attendees and their cardboard VR systems.With applications ranging across the board, the potential for startups to capitalize is huge. With this in mind, I asked 12 entrepreneurs from YEC the following question:Facebook recently acquired Oculus VR. Practically speaking, how do you think that virtual reality technology will affect the startup space in the next five years?Here are the responses:

To read the full article, click on the title or image.



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Marc Kneepkens's insight:

Sci-fi is becoming reality quickly. More and more amazing new stuff is being developed.

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Rescooped by Marc Kneepkens from Startups Scoop
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Zuck’s Advice To Startups: Explore Before You Commit, Listen, Build Something Fundamental, Don’t Copy | TechCrunch

Zuck’s Advice To Startups: Explore Before You Commit, Listen, Build Something Fundamental, Don’t Copy | TechCrunch | Pitch it! | Scoop.it

Facebook didn’t guess that users wanted to share photos. It learned it, Mark Zuckerberg explained in his talk at Y Combinator Startup School. “We really listened to what our users wanted, both qualitatively listening to the words they say, and quantitatively looking at behavior that they take.” Users didn’t necessarily say they wanted photos, but were uploading new profile pics every day.

So Facebook built out photo sharing, it exploded with popularity, and proved that sometimes the data can reveal what users want before they even know it.

That wasn’t the last time Facebook would put turn this practice into product. Hundreds of thousands protested the news feed, but engagement was up, Facebook stuck it out, and news feed became one of the site’s most popular features.

To read the full article, click on the image or title.



Get your Free Business Plan Template here: http://bit.ly/1aKy7km



Via Shahzaib Khan
Marc Kneepkens's insight:

Great advice from Zuckerberg. It's not just the idea of Facebook, it evolved with trial and error into a great company.

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Rescooped by Marc Kneepkens from Entrepreneurship, Innovation
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Commentary: The year that was in tech, and what's ahead

Commentary: The year that was in tech, and what's ahead | Pitch it! | Scoop.it
SAN FRANCISCO – Was it the beginning or the end? As 2013 hurdled to its conclusion, the debate on 2014 had just begun: Is the tech industry on the verge of a renaissance or is the bubble about to burst?

 The glass-half-full types point to Twitter's titillating IPO; the other half insist that's when investors cashed in on social media's hype.

The truth, as always, is somewhere in the middle. It's indisputable Twitter's public offering will usher in a wave of IPOs. But the payoffs may not match the froth of the microblogging service, forcing would-be IPO candidates to seek corporate suitors. Indeed, Twitter shares are hovering near $65, up 44% from its opening day of trading Nov. 6.

The social media storm comes against a backdrop of wrenching changes. Tech's old guard — Microsoft, Hewlett-Packard, Dell and Cisco Systems — continues to wrestle with the slowly dying PC market; smartphone sales, meanwhile, are expected to top 1 billion in 2014 — roughly three times the population of the USA. (By early October, there were more than 1.5 billion smartphones in use worldwide.)

To continue reading... click on the title of the article.


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Via Marylene Delbourg-Delphis
Marc Kneepkens's insight:

Tech is creating a revolution. Hardware, software, and just about every aspect of our life. Startups are taking advantage of this situation. Funding is soaring. Startups are taking off!

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Katie Renati's curator insight, December 26, 2013 8:01 PM

A good read as we are heading into 2014.

I like the quote from Eric Schmidt that explains Google's innovation model: "The way Google runs is a sort of bizarre, bottoms-up innovation model, where people are encouraged to think outside the box. These ideas actually came from the bottom up."

sand0z's curator insight, December 27, 2013 3:55 AM

A look back at 2013 and some hints for what's coming in 2014.