If is one looks at all the successful startups in the world, 70 percent of them would trace their origin to Silicon Valley. The Valley has a legacy of producing some of the best Indian entrepreneurs in the world – Vinod Dham, Vinod Khosla, Bharat Desai, Gururaj Deshpande, Vivek Ranadive, Abhi Talwalkar, KB Chandrashekhar and more who took their humble startups to multi billion dollar empires today. What makes the Valley a fertile place that it for years has churned out some of the best startups and leading entrepreneurs?
1Failure is an option
Silicon Valley is well known for its open acceptance of failure as a rite of passage, unlike other geographies where failure is frowned upon and considered a stigma. If an entrepreneur is known to have a failure behind him, there is more chances for a VC to back him in his next venture. Since failure is seen as a sign of maturity and experience, it encourages the entrepreneurs to take bold risks and not allow fear to rule their decisions.
2Skilled Talent Pool
The Valley has always had a very high concentration of highly skilled people. Over a majority of the tech professionals in the Valley are immigrants, who brought the best of knowledge, talent and aptitude from a wide range of background. This can be attributed to the immigration laws that were less complex two decades ago. This allowed most graduates from IIT, BITS Pilani, and other top Indian engineering institutions to migrate to the Valley either in search of internship programs or to pursue their higher education. It was then that that they took forward with their disrupting R&D to set up disrupting startups and built them to industry giants like Sun Microsystems, LSI, InfoSpace, Jamcracker, e4e and more.
3Connectivity and Professional networking
A typical work culture at valley is that like a campus. People bump into fellow entrepreneurs, openly exchange ideas and talk about entrepreneu rship. It is a quality that perhaps one acquires being in the Valley and just becomes a part of ones DNA in the long run. Further more, in Silicon Valley people trust each other, share their ideas and might easily let one jump in the project or give them the shares. Also things happen faster because people will meet you informally over a coffee and it takes less time to schedule a meeting.
4Proximity to Mentors
The Valley is surrounded by many prestigious Universities like Stanford that encourage innovative ideas. Proximity to these institutions allows entrepreneurs to interact and seek guidance from professors and seek mentors. Also atmosphere in the Silicon Valley has always had an open door feel be it the angel investors or VCs. The Angels have more experience in terms of coaching entrepreneurs and established entrepreneurs and VCs are always open to advise young entrepreneurs, guide them and engage them in brain storming sessions, there by helping them groom their skills.
From the every beginning, the state of mind in the Valley based entrepreneurs is to take ones ideas at the global level. While in other geographies the culture is becoming the leader in its specific country, the culture in the valley is to rule the world. This makes the entrepreneurs more focused, foresighted with a long term vision to sustain and succeed.
Here is a great motivational video to top it all up!