08 July 2013

Billions wasted trying to replicate Silicon Valley

Billions have been spent trying to replicate Silicon Valley, with little to show for it. | MIT Technology Review: ". . . . (Harvard Business School professor Michael) Porter and legions of consultants following his methodology prescribed top-down clusters to governments all over the world. The formula was always the same: select a hot industry, build a science park next to a research university, provide subsidies and incentives for chosen industries to locate there, and create a pool of venture capital. Sadly, the magic never happened—anywhere. Hundreds of regions all over the world collectively spent tens of billions of dollars trying to build their versions of Silicon Valley. I don’t know of a single success . . . " read more at link above

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