Are We Overdoing Silicon Valley?


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Keynote speech by Prof. Joe Haslam (IE Business School), at INSEAD Entrepreneurship Roundtable, hosted by Tetuan Valley on 10th November 2011.

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Are We Overdoing Silicon Valley?

  1. 1. Are we overdoing Silicon Valley? November 10th, 2011 19h00-20h30
  2. 2. 1/5 - Intro
  3. 3. About Me- From Ireland, have also lived in US, UK, Norway, France, Spain- Founding Team, (raised $75m, Employed 250people, still used today)- MBA, IE Business School 2004- Now VP Stratemic Capital- Mentor at Venture Lab, Startup Bootcamp, Wayra
  4. 4. “Be a node … not a cluster”
  5. 5. 2/5- Silicon Valley
  6. 6. 3/5- Research
  7. 7. “Pick a hot industry, build a technology park next to a research university, provide incentives for businesses torelocate, add some VC and then watch the magic happen”. Vivek Wadhwa
  8. 8. Key Drivers of Innovation - communication channels that local entrepreneurs maintain to the outside world - open-mindedness toward foreign cultures, change and new ideas”. - Regional and national clusters are “irrelevant for innovation”Companies that maintain ties only with players within the same cluster are four times LESS LIKELY to innovate than those which were globally connected.
  9. 9. 4/5 - Takeaways
  10. 10. José María Álvarez-PalleteCEO of Telefónica EuropeWayra Founder & Architect- “We want to occupy the technology aroundtelecoms. We need to take advantage of ourproximity to the customer.- “We do not want to go to California for newtechnology. I want to have this in London,Berlin, Munich, Prague and Dublin– to create local silicon valleys around theworld that are all connected. It is aboutcreating the right ecosystem for this towork.”
  11. 11. “Of all required criteria, it is essential that the chosenentrepreneurs work in a global mindset, believing thatthe route to success is via expansion not isolation.”
  12. 12. “Silicon Valley, despite being at the center ofthe digital world, is a hopelessly insular andactually rather hermetic place.Even its famous immigrant culture emphasizesjoining the SV way.For all its talk of innovation, it resists almostanyone who is not part of its mainstream“
  13. 13. 5/5 – Further Discussion
  14. 14. “Spain needs a new economic model” There was very little difference between the policies of Socialist Prime Minisiter Felipe González from 1982–96 and the so called modernization programme of the Franco dictatorship from the late 1950s. The strategy for relaunching the economy in the 1980s was based on deepening Spain’s existing ‘specializations’ in tourism, property development and construction, as ‘competitive advantages’
  15. 15. “Para promover el espíritu emprendedor como motor denuevos empleos y fuente inagotable de innovación enEspaña”("To promote the spirit of entrepreneurship as an engine ofnew jobs and inexhaustable source of innovation in Spain")
  16. 16. How do we unleash the Entrepreneurs?
  17. 17. AppendixWorking Papers Series - 2011/05When local interaction does not suffice: Sources of Firm Innovation in Urban Norwayby Rune Dahl Fitjar and Andrés Rodríguez-Pose Spanish ModelIsidro López & Emmanuel RodríguezNew Left Review 69, May-June 2011 the next Prime Minister of Spain should do for Entrepreneurs HaslamSeptember 2011The Competivive Advantage of Nations: Its not about Clusters, its about Nodes HaslamNovember 2011El mix perfecto para una empresa: Españoles por el mundo y extranjeros en EspañaJoe Haslam 19/10/2010El Confidencial
  18. 18. Míle Buíochas/ Thank you Joe Haslam Lives in: Madrid, Spain"Everyone lives by selling something"Robert Louis Stevenson (1850-1894)