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How to benefit from Silicon Valley

silicon valley beneficios

A Transverse Trait - Promoting closeness to Silicon Valley


 
The benefits to be gained, at all levels - personal, business and as a country - require closer proximity to Silicon Valley (SV). Being today the worldwide hub of entrepreneurial innovation, those who are not connected are late. Anyone who wants to enter the global economy should use this hub as a means of acceleration.

 

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Additionally, what really sets Silicon Valley apart is its culture. SV is a "state of mind" that can be characterized as follows: permanent challenge of the established business models; aspiration and dream as an engine for generating ideas; total focus on the paying consumer as a validator of innovation and business models; acceptance of risk and trial and error as a way of growing and developing companies; building trust and sharing networks. For this reason, the best way to benefit from SV is to understand their culture and try to apply it to different levels of intervention, as discussed below.

 

Countries - bet on new models of development
Silicon Valley shows that mechanical and rational economic models are important, but they do not explain everything. They are therefore insufficient. Aspects such as trust networks, collaborative communities, the will to change the world, among others, play an important role in reducing social barriers that increase the costs of the economic transaction and resource use and constrain the process of innovation. For innovation to flourish, it is necessary to reduce/eliminate formal barriers, but also social barriers of mistrust, fear, and difficulty of communication and interaction. For this reason, to create entrepreneurship, it is essential to create economic incentives (availability of risk capital, fiscal policies, etc.), but it is also essential to work on another dimension, a "postmodern" economic policy that addresses fuzzy elements, which traditional economic models do not address. In other words, it is essential to create ecosystems that promote cultural and trusting relationships through innovative microcultures in incubators, cities,, and regions. And then promote dissemination to society.
In this sense, several countries have chosen cities with investment capacity and talent attraction to promote these ecosystems, highlighting the European examples of Berlin and London, among many other metropolis. Also, Lisbon and other Portuguese cities are acting in this direction and to create these ecosystems that promote human interactions more productive in terms of business innovation.

 

Companies - the cultural broth associated with process discipline
Many companies have innovation departments, one or another innovation expert, or external consultants. All right, but still fall short in terms of innovation. In many cases, they are companies that even have the innovation processes designed, but they lack an ecosystem of innovation or network of innovation. They have the rational part but lack the cultural ecosystem, the informal spontaneous networks.
To this end, companies need to focus on:

  1. a culture that promotes and welcomes new ideas of 'everyone' with energy and potential to generate new winning ideas;
  2. a grassroots group (formal or informal, large or small) that supports these ideas, with top elements, with internal operational leaders, with experts, with external consultants if necessary,
  3. in a permanent network promotion model with meetings, presentations, brainstorming, that promote the connection between several areas and sharing of ideas,
  4. a model of generating, promoting and analyzing the business ideas (innovation framework) that is presented and the knowledge of everyone in the organization.

This ecosystem does not need a central office to mediate communication and command the process of idea generation, which must arise spontaneously among people. We thus have a bottom-up process of creativity and a top-down process of defining rules and final validation of the ideas generated.

 

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Individuals - the global entrepreneur
Where the impact of Silicon Valley is most easily felt is individual, as evidenced by the cases witnessed by the Global Strategic Innovation executive program and the start ups acceleration program run by Leadership Business Consulting in SV.
Those who go through SV know that to increase their chances of success they have to: i) become a global entrepreneur, that is, create competitive business proposals in the global market, ii) search for "the next big idea", have ambition to change (iii) building national and international collaborative networks of reciprocity and sharing, (iv) maintaining contact with the best and SV (the Olympic Games of entrepreneurship), (v) seeking funding smart, which opens doors, teaches and accompanies the entrepreneur in various stages of growth, vi) combine the analytical processes of the old school of business thinking with the creativity, intuition and risk of the new school of thought.

Silicon Valley teaches us many things, but above all teaches us that only with a new mindset will countries, companies and individuals succeed in the new information and knowledge society, and in the globalized economy.

 

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