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Title: The next Silicon Valley is in China
Website: www.pascalcoppens.com/
CONTENT. This video claims that Greater Bay Area from China will overtake Silicon Valley this decade. It explores what made Silicon Valley unique and why GBA around Shenzhen has all but one advantage, but on the upside has 4 advantages that Silicon Valley does not have.
TRANSCRIPT
Could any of the places in China out-compete the Bay Area, the Silicon Valley of San Francisco?
Could the next silicon valley actually come from China?
What is really the magic formula that Silicon Valley has? I think it's about 6 different things:
First thing is about the market; not only do they have a very big home market: North America
and Canada; but on top of it they're thinking global; they're instantly thinking about the global market.
Secondly, it's about money and we've seen that all the venture capitalists they flocked
to Silicon Valley to give their money to all these entrepreneurs and they had great returns.
It created more money and a lot of these entrepreneurs who became rich, became VCs.
That money is flowing. Especially to scale,. Silicon Valley is the place to go and look for money.
The third thing has to do with culture. If you've lived in Silicon Valley then you know
that these tech guys they just love coding, and they all want to work together and there's
this entrepreneurial culture and this pay-it-forward culture to help each other that makes the difference.
Then of course, there's infrastructure. One of the best places when it comes to the
digital and data infrastructure, but also silicon came from there, HP started there.
There's a lot of infrastructure and knowledge in that area to help other entrepreneurs.
The fifth thing has to do with regulation that is flexible enough to actually experiment,
the same time they're protecting the I.P., they enable tech transfers and stuff like that,
open innovation...So, great regulation to enable that spirit of innovation. Finally for me
it's all about talent. Universities like Berkeley or Stanford. They're top universities in the world.
It gets a lot of people to go to that area to learn and to research and to find out
the next innovation of tomorrow. But it's not just those two universities; it's also the
fact that the whole world - all the smart people in the world - have been going to Silicon Valley
because they believe the smart people are there; so it's clear that Silicon Valley has a magic formula.
Most of the cities in the world, anywhere, have been trying to emulate it, to copy it.
Specifically, they started thinking top-down: if we create more of these innovation hubs, and
R&D hubs, and we give money, and we attract scientists, and we do that close to universities and so on...
it will basically create another Silicon Valley. And so,
every big city in the world almost, claims to be the next Silicon Valley. But is it really true?
If you go and look more in depth in each of these cities, what you do see is that
it doesn't have the same width and breadth of Silicon Valley. What is the difference?
Well, I think the top down is one part, but you also need the bottom up - which are the entrepreneurs.
I believe there's some things that you really see that Silicon Valley has created - these giants -
which none of these other cities have done. Maybe they have one or two examples, one or two companies
as a reference point, but it's not like Silicon Valley that has dozens of them. And there's other
companies like Oracle, Intel, HP that aren't even on that list. But when you compare these
companies and you look at China, what you see is that China has an equivalent for each of these.
In the beginning - maybe 20 years ago - because Chinese innovation is very young it's like
20-25 years old, what you see is that there were a lot of clones and copies. But now these days..
is the reverse. Now, you see Facebook starting to copy Tencent; you see a lot of companies,
fighting neck-to-neck on a global level.. Think about Tik Tok and Facebook; think about
Didi and Uber. Companies that were not visible to the U.S. or to America at that time,
long time ago, and today they're fighting head-to-head. That is really because in China
there's both the top down and the bottom up. If you look at all these companies
they're based in many cities in China. But there are 4 main cities you can find them;
KEYWORDS
Pascal Coppens, China, innovation, trends, keynote, speaker, public speaker, silicon valley, GBA, Greater Bay Area, Shenzhen, manufacturing, Bay Area, Innovation
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