The legends of Silicon Valley are well known. HP, born in a garage. Steve Jobs, the domineering icon who reshaped industries. Mark Zuckerberg, whose social media platform engages 2.8 billion monthly active users around the world. Their successes, and many others’, fed back into the myth of Silicon Valley, boosting its reputation as the place to be if you had a smart idea and wanted to make it in tech.
Silicon Valley remains the world’s predominant technology hub. The scale of its economic power is unprecedented in the history of global technology, or any industry for that matter. But its grip on superiority has been steadily slipping.
Around the world, tech hubs, modeled after Silicon Valley, are emerging. Talent in California is exorbitantly expensive, venture capitalists on Sand Hill Road are increasingly willing to look beyond an 80-kilometer circle for investments, and visa regulations are forcing companies to rethink their operations. Rest of World is taking a deeper look at six tech hubs from around the world that have been growing in power and prominence in recent years. Some have been called the “Silicon Valley of …” their respective countries, but to compare them directly does them an injustice. Each has its own story and a set of unique factors behind its rise. What they all do carry is a measure of the Silicon Valley myth: The idea that, if you want to make it in tech, you need to be there.