Here’s food for thought . . . There are two ways to weather a storm – buy umbrellas or build boats.
In Silicon Valley, to battle the economic storms of international competition, the better way – the most successful way – is to build boats that lift everyone in our Valley when the inevitable rainstorms occur.
That’s why we commission the “Silicon Valley Competitiveness & Innovation Project,” in partnership with the Silicon Valley Community Foundation, comparing Silicon Valley with the other top five tech regions in the United States, as well as international regions like London, Seoul, Berlin and Beijing.
The findings – like our Valley – show that we have “high-highs” and some “low-lows.”
Our strengths are to be celebrated:
* Talent, risk-capitol and R&D, idea generation, commercialization and business innovation, labor productivity and jobs in innovation industries.
Our challenges are to be assessed and addressed:
* Cost of doing business, home and rental rates, traffic congestion, math proficiency in 8th grade, reading proficiency in 3rd grade and pre-school enrollment.
Take traffic – The average Silicon Valley commuter loses 75 minutes each week due to traffic congestion, above their normal commute time. As a region, we lose $5.4 billion annually due to congestion – in lost productivity, vehicle wear and tear and increased gas usage. During commute hours, our economy – literally – comes to a stand-still.
Concerned? Read more at SVCIP.com. Silicon Valley is still the innovation engine of the world, but resting on our laurels will move us from the driver’s seat to the back seat, which we cannot allow to happen.