Valley of Dreams – the allure of Silicon Valley (1)

Among the most FAQ that people ask me when abroad the “should I go to Silicon Valley” appears as a common refrain. This is not restricted to individuals alone, but is also common for companies. With the relentless barrage of sky-high valuations, mouth watering exits and very cool technology, who could even resist! In this series of posts, aimed at corporations rather than individuals I have attempted to delve into this topic and provide some guidelines to help you make a decision. Are these “best practice” you may ask? Well – I would fathom I don’t quite know what this equates to; but a significant chunk of this thought process is based upon observing how others did and fared in attempting just this.

So lets just get started by attempting to answer the question “Why should I go to Silicon Valley”. For a majority of firms it boils down to the following options

1. I want to increase my brand image and project myself as a innovative firm. What better than to have a prominent Silicon Valley address
2. I want to keep abreast of the latest trends which helps my firm be on the forefront of what is out there, not only for myself but also to lookout for what competitors are doing. No better place to find new ideas popping up (even loony ones) than this small spot of land!
3. I want to find small, agile firms to partner with and get their cool products to my customers. With a good network within this region I will be able to find a plethora of firms to do just this.
4. I want to go the Venture Capital (VC) rout; build a VC capability in my firm and invest in young startups. If there is one place I need to be – it is Silicon Valley
5. I want to engage in serious development at different levels needing close collaboration with experts within the field. Silicon Valley with its proximity to several leading academic and research institutions along with a huge pool of talent is the right place to be…

Are you, or is your firm one of them? To be clear, none of these choices are intrinsically wrong….. but deciding which one is the right approach for you requires some clear and structured thinking….