Silicon Valley is known worldwide for being home to the world's leading technology companies, such as Google, Apple, Intel, Facebook and Netflix. In addition, the region is the largest center of innovation and entrepreneurship in the world, being the origin of many new technology companies, the so-called startups.
There are several other technological innovation hubs around the world, but none have achieved the same success as Silicon Valley. Below we will discuss the main characteristics of the Valley, what sets it apart and what builds the culture of innovation present in the region.
“Coopetition”
One of the main characteristics that define Silicon Valley is “coopetition,” that is, cooperation between competitors. In addition to not having the culture of internal competition present in most kuwait email list companies in Brazil – when employees themselves compete to be more “visible” – the very concept of competition between companies is different. Companies collaborate with each other – even if they compete within the same segment – to break the barrier of innovation and transform ideas into increasingly better actions.
Diversity
According to data from Silicon Valley Indicators , in 2017, 38.2% of people living in Silicon Valley were born outside the United States, and if only employees are considered, the number rises to 47.1%. This wide variety of ethnicities, origins, cultures and even sexual orientation results in a constant exchange of learning from different people with different perceptions and thoughts. With the entire world present in the region and the culture of constant integration, ideas emerge, are improved and become more creative and innovative.
The error is part of
Unlike the idea of perfection that is cultivated in Brazil, making mistakes is not only acceptable but often necessary for technological innovation. Entrepreneurs in the region do not work for months until they have a perfect business plan, only to present it to investors and start a prototype of the product. The goal is to build a minimum viable product, a prototype that works, even if it has flaws, and then start improving it together with feedback from customers or a test group. In short, the region works on trial and error, and this is desirable.
Investment
Entrepreneurship is not easy, especially when there is no investment. In addition to holding funding events, where startups can get a significant injection of capital through venture capital, the region is home to several millionaires and billionaires who often invest in an emerging company that they believe has potential. The region as a whole operates largely through networking , so knowing the right people helps you find angel investors. In addition, even established startups fund others, generating a virtuous cycle of investment.
Objectivity and informality
Walking through the region that is home to the headquarters of the world's largest and most valued companies does not mean seeing everyone wearing a suit and tie, quite the opposite. The general preference for casual clothing reflects the diversity and objectivity needed in the region. It is not necessary to wear uncomfortable clothing to undertake or innovate. Meetings are objective and informal, often taking place while walking or even having lunch. E-mails are short and direct, without formality or refinement.
Opportunity before product
The vast majority of companies that are opened in Brazil have a motivation that is the opposite of those in Silicon Valley. While entrepreneurs define a product and then try to find an opportunity to introduce it into the market, which can lead to difficulties when it comes to selling it, the opposite happens in the Valley. Initially, a problem, opportunity or deficit is identified and then the company thinks about how to solve it and transform it into a product or service. This inversion of logic means that as soon as the product is ready, it is already being consumed.
Silicon Valley's culture of innovation encompasses several aspects, including those mentioned above. Years of evolution and adaptation have led the region to attract the best and most creative minds to change the world. However, it is not impossible to replicate some of its best characteristics in a company, bringing positive results in the medium and long term. Some attempts to replicate the Valley's environment are underway throughout Brazil, with examples in São Paulo, Belo Horizonte and Santa Catarina. It remains to be seen whether these attempts will be as successful as the center of global innovation.