Policy ForumInnovation Economics

Where is Silicon Valley?

Science  06 Feb 2015:
Vol. 347, Issue 6222, pp. 606-609
DOI: 10.1126/science.aaa0201

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Summary

Although economists, politicians, and business leaders have long emphasized the importance of entrepreneurship (1, 2), defining and characterizing entrepreneurship has been elusive (3, 4). Researchers have been unable to systematically connect the type of high-impact entrepreneurship found in regions such as Silicon Valley with the overall incidence of entrepreneurship in the population (57). This has important implications: Researchers arrive at alternative conclusions about roles and patterns of entrepreneurship (810), and policy-makers are given conflicting recommendations about whether or how to promote entrepreneurship for economic and social progress (11, 12).