Nov 20 Silicon Valley remains the world's most
attractive spot for technology start-ups with other locations
around the world catching up, according to a report published on
Silicon Valley-based start-ups raise, on average, a third
more capital than those in other areas, the report, conducted by
research firm Startup Genome and funded by Spanish group
Silicon Valley continued to lead in metrics including the
amount of serial entrepreneurs, revenue models, and the level of
education among business founders. Tel Aviv was ranked second,
followed by Los Angeles, Seattle, New York and Boston.
"Some years ago it was only Silicon Valley. Now there are
also other innovation hubs and this trend is only going to
strengthen," said Gonzalo Martin-Villa, chief executive of Wayra
- a Telefonica unit that nurses start-ups.
"Flourishing communities in Latin America, Europe, the
Middle East and Asia have grown considerably over recent years
and are now beginning to challenge Silicon Valley's domination
in technology innovation," the report said.
Phil Liblin, chief executive of Silicon Valley-based writing
app maker Evernote, said in a recent interview: "Silicon Valley
does have a lot of magic in it. It is still the only place you
can get $20 million without owning a suit, but you do not need
20 million any more."
The proliferation of Apple and Google app
stores, Facebook and Twitter have enabled starting a
global company with just $50,000 or $100,000, he said.
"I think the main structural advantages are disappearing.
Silicon Valley's greatest innovation in the last couple years
have made itself less unique."