Some time back I wrote a paper (bit.ly/1WDmKjM) outlining one hypothesis as to how the corporations in the Australian services sector could be encouraged by government intervention to require new sources of innovation as developed by a high-tech start-up sector. In that paper I stated a view shared by many, that the world only needs one Silicon Valley. The evidence? Firstly, Silicon Valley doesn't just serve the USA, it is a magnet for entrepreneurs and risk capital from all over the world. Secondly, as Vivek Wadwha noted (bit.ly/20y9UbL), 'hundreds of regions all over the world [have] collectively spent tens of billions of dollars trying to build their versions of Silicon Valley. I don't know of a single success.' Recently I was included in an email conversation that included a small number of Australian high-tech start-up industry veterans. The group had taken it upon themselves to educate the incoming Australian Federal Minister for Science (sic) on what is needed to 'fix' the Local technology start-up sector.
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