Has Silicon Valley Lost Its Importance?
There has been recent discussion in the “spheres” about Silicon Valley losing its edge when it comes to disruptive innovation. A recent post by Umair Haque in the Harvard Business Review, suggests that Silicon Valley has “Disruption Deficit Disorder.” An argument can be made that there has been a general migration from science-based innovation to support of “softer” Internet activity. However, Silicon Valley is, and will continue to be, the epicenter of technology innovation.
For example, Kleiner Perkins has a number of promising portfolio companies involved in energy, clean tech, communications infrastructure and life sciences. Google is working on green energy, transportation and health care. Stanford continues to lead with innovation and produce future founders and entrepreneurs.
What is changing in Silicon Valley is the funding ecosystem. Angels and super angels represent a growing source of funding, as compared to traditional VCs. While Silicon Valley may be the hub of the ecosystem, it is not the only place for early stage funding and support. Austin, Boulder, Boston and New York have become important satellites to the network created in Silicon Valley.
Despite provocative headlines, Silicon Valley is as important as ever and it continues to identify, fund and nurture disruptive technologies.