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151-537: Since the 1950s, entrepreneurial clustering had followed the Silicon Valley model of suburban corridors with sprawling research centers and campuses. In the late 1990s, Internet startups and creative companies started to cluster in downtown neighborhoods such as Silicon Alley (New York), Mission District (San Francisco), Seaport (Boston), Shoreditch , (London), and Silicon Sentier (Paris), because of their central locations, abundant urban amenities, and low rents. In

302-501: A BASIC programming language interpreter, with their first employee being high school friend and collaborator Ric Weiland . Allen came up with the name of "Micro-Soft", a combination of "microcomputer" and "software". Microsoft committed to delivering a disk operating system ( DOS ) to IBM for the original IBM PC in 1980, although they had not yet developed one, and Allen spearheaded a deal for Microsoft to purchase QDOS (Quick and Dirty Operating System) written by Tim Paterson who

453-524: A synecdoche for the American high-technology economic sector . The name also became a global synonym for leading high-tech research and enterprises, and thus inspired similarly named locations , as well as research parks and technology centers with comparable structures all around the world. Many headquarters of tech companies in Silicon Valley have become hotspots for tourism . "Silicon" refers to

604-614: A $ 100 million commitment, The Paul G. Allen Frontiers Group aims to discover and support ideas at the frontier of bioscience in an effort to accelerate the pace of discovery. The group will target scientists and research areas that "some might consider out-of-the-box at the very edges of knowledge". Allen launched the Allen Distinguished Investigators Awards (ADI) in 2010 to support scientists pursuing early-stage research projects who often have difficulty securing funding from traditional sources. Allen donated

755-553: A 100-acre site in the middle of the present-day Research Triangle Park in order to promote high-density workspace and living. A new commuter rail system will also be developed in order to connect the Park to downtown Durham and Raleigh. The High Tech Campus Eindhoven (HTCE) is located in Eindhoven , Netherlands . This campus was originally established by Philips , and was thus the breeding ground for many successful Philips products as well as

906-531: A Road to Recovery – Five Insights for National and State Governments.” Bruce Katz and Julie Wagner identify in their 2014 report three primary models in how innovation districts are created: Among the criticisms of innovation districts, one of the most recurrent is the issue of gentrification leading the Brookings Institution to write an article around the question “Does innovation equal gentrification?”. In her analysis of Philadelphia—a city with one of

1057-782: A city of only 50,000 people, "the densest concentration of lawyers" in the United States outside of Washington, D.C. By the year 2000, large law firms from all over the world were rushing to establish offices in the mid-Peninsula region on or near Sand Hill Road, and Silicon Valley law firms had become global trendsetters in that they were the first legal services employers to adopt business casual apparel (in imitation of their startup clients). During this era, lawyers evolved from their relatively narrow conventional role as protectors of intellectual property into business advisers, intermediaries, and dealmakers, and thereby acquired great prominence in Silicon Valley. For young entrepreneurs new to

1208-441: A computer network, which he imagined as an electronic commons open to all, the main and essential medium of informational interaction for governments, institutions, corporations, and individuals. As head of IPTO from 1962 to 1964, "Licklider initiated three of the most important developments in information technology: the creation of computer science departments at several major universities, time-sharing, and networking." In 1969,

1359-413: A large number of hightech startups , some of which became leading OEMs themselves─such as ASML and NXP . In 2003 the campus was opened up to other companies, and in 2012 it was sold to a consortium of external investors. The result was a substantial growth in the number of hightech companies and other residents – both large and small. The HTCE has therefore been praised as one of the best locations in

1510-497: A partnership incorporated in 2007 alongside Manchester City Council and Bruntwood . In 2015, The Department for Business, Energy and Industrial Strategy (BEIS) invited consortia, formed around geographic and technological themes, to apply to be involved in the science and innovation audit (SIA) process. The Greater Manchester and East Cheshire SIA highlighted that 50% of the City Region's science and innovation assets were located in

1661-601: A perfect SAT score of 1600 and went to Washington State University , where he joined the Phi Kappa Theta fraternity. He dropped out of college after two years to work as a programmer for Honeywell in Boston near Harvard University where Gates was enrolled. Allen convinced Gates to drop out of Harvard in order to found Microsoft . Allen and Gates formed Microsoft in 1975 in Albuquerque, New Mexico , and began marketing

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1812-735: A private school in Seattle where he befriended Bill Gates , with whom he shared an enthusiasm for computers. They used Lakeside's Teletype terminals to develop their programming skills on several time-sharing computer systems. They also used the laboratory of the Computer Science Department of the University of Washington for personal research and computer programming until they were banned in 1971 for abusing their privileges. Gates and Allen joined with Ric Weiland and Gates' childhood best friend and first collaborator, Kent Evans, to form

1963-462: A producing partner of Pandora's Promise , a documentary about nuclear power, directed by Oscar-nominated director Robert Stone . It was released on CNN in November 2013. A variety of college and private screenings as well as panel discussions have been hosted throughout the country. Allen gave more than $ 2 billion towards the advancement of science, technology, education, wildlife conservation,

2114-405: A prosperous manufacturing center for Washington's biggest industrial companies. Wood making, ship building and airplane manufacturing companies all were located in the area. However, South Lake Union experienced a significant decline in businesses and residents in the 1980s and 1990s. However, as a result of major development plans by Paul Allen 's Vulcan Real Estate, the neighborhood has persuaded

2265-672: A range of models that have emerged in city-regions around the world. Katz also dedicated a section to innovation districts in his book The Metropolitan Revolution: How Cities and Metros Are Fixing Our Broken Politics and Fragile Economy. A research team at MIT ’s Department of Urban Studies and Planning, led by Dennis Frenchman, identified discrete geographic clusters of creative industries, life sciences, and applied sciences within large-scale real estate development projects. Defined as “New Century City Developments,” these innovative clusters are “driven by inter-organization and cross-industry collaboration, open systems for R&D, and workers who have

2416-482: A result of the high technology sector, the San Jose-Sunnyvale-Santa Clara, CA Metropolitan Statistical Area has the most millionaires and the most billionaires in the United States per capita, although the venture capital ecosystem has grown more geographically decentralized over time. The region is the biggest high-tech manufacturing center in the United States. The unemployment rate of the region

2567-570: A single-person household was $ 14,891. Thousands of high technology companies are headquartered in Silicon Valley. Among those, the following are in the Fortune 1000 : Additional notable companies headquartered in Silicon Valley (some of which are defunct, subsumed, or relocated) include: Silicon Valley has a population of 3.1 million as of 2020. A 1999 study by AnnaLee Saxenian for the Public Policy Institute of California reported that

2718-582: A table while a deal was being discussed?" Silicon Valley firms' board of directors are composed of 15.7% women compared with 20.9% in the S&;P 100. The 2012 lawsuit Pao v. Kleiner Perkins was filed in San Francisco County Superior Court by executive Ellen Pao for gender discrimination against her employer, Kleiner Perkins . The case went to trial in February 2015. On March 27, 2015,

2869-462: A third of Silicon Valley scientists and engineers were immigrants and that nearly a quarter of Silicon Valley's high-technology firms since 1980 were run by Chinese (17 percent) or Indian descent CEOs (7 percent). There is a stratum of well-compensated technical employees and managers, including tens of thousands of "single-digit millionaires". This income and range of assets will support a middle-class lifestyle in Silicon Valley. In November 2006,

3020-724: A vibrant ‘live, work, play and innovate’ environment. GCID develops, delivers, and supports a range of inclusive innovation-driven initiatives and programs including the Glasgow Tech Fest – Glasgow's first dedicated tech conference, the first Royal Academy of Engineering Enterprise Hub for Scotland, the first Climate Neutral District , Business Growth Programmes as well as the Inspire Partners’ Hub which supports Entrepreneurs and Spinouts from Strathclyde University which maximises collaboration, innovation, and impact success. Many academic institutions and think tanks are analyzing

3171-531: Is a permit to recover the productive vocation of the old economic hub of the city of Barcelona in order to create a new model of urban space according to the needs of the current knowledge-based society.” The Kendall Square innovation district is anchored by surrounding Massachusetts Institute of Technology in Cambridge , Massachusetts and in close proximity to Harvard University , Massachusetts General Hospital and other world-leading research institutions. In

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3322-608: Is also represented in the number of new companies founded by women as well as the number of women-lead startups that receive venture capital funding. Wadhwa said he believes that a contributing factor is a lack of parental encouragement to study science and engineering. He also cited a lack of women role models and noted that most famous tech leaders—like Bill Gates , Steve Jobs , and Mark Zuckerberg —are men. As of October 2014, some high-profile Silicon Valley firms were working actively to prepare and recruit women. Bloomberg reported that Apple, Facebook, Google, and Microsoft attended

3473-465: Is credited with creating the first innovation district with its 22@Barcelona Project. In 2000, the initiative began to redevelop the industrial El Poblenou neighborhood in the Sant Martí district of the city. Long the city's manufacturing heart and a production center for textiles, food, wine, construction products and metal structures, El Poblenou saw some 1,300 factories close between 1963 and 1990 and

3624-421: Is home to a wide concentration of public, private, academic, and clinical institutions, generating 20% of Manchester's GVA and providing 79,000 jobs. It is home to 50% of Manchester's life sciences businesses, 74,000 students including 16,220 international students, with 42% of all students studying STEM related disciplines. Property companies Bruntwood and Bruntwood SciTech have invested significantly into assets in

3775-587: Is known for the redevelopment of the South Lake Union neighborhood immediately north of downtown Seattle. Vulcan has developed 6.3 million square feet (590,000 m ) of new residential, office, retail and biotechnology research space, and has a total development capacity of 10,000,000 sq ft (930,000 m ). Vulcan advocated for the Seattle Streetcar line known as South Lake Union Streetcar , which runs from Seattle's Westlake Center to

3926-550: Is planning a 300,000 square foot life sciences research facility. A 7-acre park, a new bus rapid transit station, and the Michael S. Van Leesten Memorial Bridge were built in recent years to contribute to the public realm of the district. The Detroit Innovation District is a cross-sector initiative dedicated to curbing the city's economic decline and population loss through the attraction of technology companies to Detroit's downtown and midtown area. In 2014, Mayor Mike Duggan established

4077-518: Is the company within Allen's Vulcan Inc. that plans and executes projects to shift how the world conceptualizes space travel through cost reduction and on-demand access. On April 13, 2019, the Stratolaunch aircraft made its maiden flight, reaching 15,000 ft (4,600 m) and 165 kn (305 km/h) in a 2 h 29 min flight. Stratolaunch CEO Jean Floyd offered this comment: "We dedicate this day to

4228-494: Is the largest innovation hub in the midwest region. It has generated 3,800 tech jobs in 14 years. Once it is completely built out, projections are for it to make $ 2 billion in development and make 13,000 jobs for the region. The 195 District in Providence, Rhode Island , United States , was created when Interstate 195 was relocated and 26-acres of land in downtown Providence were freed for development. Brown Medical School moved to

4379-452: Is the largest of its kind and designed to provide data to help conservation programs. Allen backed Washington state initiative 1401 to prohibit the purchase, sale and distribution of products made from 10 endangered species including elephants, rhinos, lions, tigers, leopards, cheetahs, marine turtles, pangolins, sharks and rays. The initiative gained enough signatures to be on the state's ballot on November 3, 2015, and passed. Alongside

4530-519: Is working to build an AI system capable of passing an 8th-grade science exam. In December 2014, Allen committed $ 100 million to create the Allen Institute for Cell Science in Seattle. The institute is investigating and creating a virtual model of cells in the hope of bringing forth treatment of different diseases. Like the institutes before it, all data generated and tools developed will be made publicly available online. Launched in 2016 with

4681-565: The Andrew Carnegie Medal of Philanthropy and Inside Philanthropy ' s "Philanthropist of the Year". In September 2003, Allen launched the Allen Institute for Brain Science with a $ 100 million contribution dedicated to understanding how the human brain works. In total, Allen donated $ 500 million to the institute, making it his single largest philanthropic recipient. Since its launch,

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4832-687: The Battle of Ormoc Bay . In 2018, Petrel found a lost US Navy C-2A Greyhound aircraft in the Philippine Sea, USS  Lexington in the Coral Sea and the USS ; Juneau off the coast of the Solomon Islands . Allen established non-profit community institutions to display his collections of historic artifacts. These include: An active art collector, Allen gifted more than $ 100 million to support

4983-491: The Brookings Institution . As of June 2021, it also had the highest percentage of homes valued at $ 1 million or more in the United States. Silicon Valley is home to many of the world's largest high-tech corporations , including the headquarters of more than 30 businesses in the Fortune 1000 , and thousands of startup companies . Silicon Valley also accounts for one-third of all of the venture capital investment in

5134-658: The Intel 8080 , the second 8-bit microprocessor designed and manufactured by Intel . On April 23, 1963, J. C. R. Licklider , the first director of the Information Processing Techniques Office (IPTO) at The Pentagon 's ARPA issued an office memorandum addressed to Members and Affiliates of the Intergalactic Computer Network . It rescheduled a meeting in Palo Alto regarding his vision of

5285-564: The MITS Altair microcomputer, the first unit sent to the area for review by People's Computer Company . Steve Wozniak and Steve Jobs credit that first meeting with inspiring them to design the original Apple I and (successor) Apple II computers. As a result, the first preview of the Apple I was given at the Homebrew Computer Club. Subsequent meetings were held at an auditorium at

5436-804: The Seattle Seahawks of the National Football League and the Portland Trail Blazers of the National Basketball Association , and was part-owner of the Seattle Sounders FC of Major League Soccer . Under Allen's helm, the Seahawks won Super Bowl XLVIII and made it to two other Super Bowls ( XL and XLIX ). In 2000 he resigned from his position on Microsoft's board and assumed the post of senior strategy advisor to

5587-539: The Shockley diode ), but the design was considerably more difficult to build than the "simple" transistor. In 1957, Shockley decided to end research on the silicon transistor. As a result of Shockley's abusive management style, eight engineers left the company to form Fairchild Semiconductor ; Shockley referred to them as the " traitorous eight ". Two of the original employees of Fairchild Semiconductor, Robert Noyce and Gordon Moore , would go on to found Intel . Following

5738-609: The Stanford Industrial Park (later Stanford Research Park ). Terman invited only high-technology companies. The first tenant was Varian Associates , founded by Stanford alumni in the 1930s to build military-radar components. Terman also found venture capital for civilian-technology start-ups. Hewlett-Packard became one of the major success-stories. Founded in 1939 in Packard's garage by Stanford graduates Bill Hewlett and David Packard , Hewlett-Packard moved its offices into

5889-545: The Stanford Linear Accelerator Center . Although semiconductors are still a major component of the area's economy, Silicon Valley has been most famous in recent years for innovations in software and Internet services. Silicon Valley has significantly influenced computer operating systems, software , and user interfaces. Using money from NASA , the US Air Force , and ARPA , Douglas Engelbart invented

6040-531: The Stanford Research Institute (now SRI International), operated one of the four original nodes that comprised ARPANET , predecessor to the Internet . By the early 1970s, there were many semiconductor companies in the area, computer firms using their devices, and programming and service companies serving both. Industrial space was plentiful and housing was still inexpensive. Growth during this era

6191-666: The United States Department of Transportation (USDOT), Allen and Vulcan Inc. launched the Smart City Challenge, a contest inviting American cities to transform their transportation systems. Created in 2015 with the USDOT's $ 40 million commitment as well as $ 10 million from Allen's Vulcan Inc., the challenge aims to create a first-of-its-kind modern city that will demonstrate how cities can improve quality of life while lowering greenhouse gas emissions. The winning city

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6342-511: The University of British Columbia 's Sea Around Us Project in 2014 to improve data on global fisheries as a way to fight illegal fishing . Part of his $ 2.6 million in funding went towards the creation of FishBase , an online database about adult finfish. Allen funded the Global FinPrint initiative, launched in July 2015, a three-year survey of sharks and rays in coral reef areas. The survey

6493-692: The University of California, Davis released a report analyzing business leadership by women within the state. The report showed that although 103 of the 400 largest public companies headquartered in California were located in Santa Clara County (the most of all counties), only 8.8% of Silicon Valley companies had women CEOs. This was the lowest percentage in the state. (San Francisco County had 19.2% and Marin County had 18.5%.) Silicon Valley tech leadership positions are occupied almost exclusively by men. This

6644-576: The White House 's BRAIN Initiative as well as the Human Brain Project . Founded in 2014, the Allen Institute for Artificial Intelligence (AI2)'s main focus is to research and engineer artificial intelligence . The institute is modeled after the Allen Institute for Brain Science and led by researcher and professor, Dr. Oren Etzioni . AI2 has undertaken four main projects, Aristo, Semantic Scholar , Euclid, and Plato. As of 2015 Project Aristo

6795-470: The chemical element used in silicon -based transistors and integrated circuit chips, which is the focus of a large number of computer hardware and software innovators and manufacturers in the region. The popularization of the name is often credited to Don Hoefler , the first journalist to use the term in a news story. His article "Silicon Valley U.S.A." was published in the January 11, 1971, issue of

6946-601: The mouse and hypertext-based collaboration tools in the mid-1960s and 1970s while at Stanford Research Institute (now SRI International), first publicly demonstrated in 1968 in what is now known as The Mother of All Demos . Engelbart's Augmentation Research Center at SRI was also involved in launching the ARPANET (precursor to the Internet ) and starting the Network Information Center (now InterNIC ). Xerox hired some of Engelbart's best researchers beginning in

7097-591: The "preprofit" stage. Prior to 1970, most Northern California lawyers were based in San Francisco, especially the experienced patent attorneys whom the high-tech industry needed to protect its intellectual property. During the 1970s, lawyers began to follow venture capitalists down the Peninsula to serve the booming high-tech industry in Silicon Valley. As of 1999, there were 2,400 lawyers practicing law in Palo Alto,

7248-509: The $ 10 million prize. On December 13, 2011, Allen announced the creation of Stratolaunch Systems , based at the Mojave Air and Space Port . The Stratolaunch is a proposed orbital launch system consisting of a dual-bodied, 6-engine jet aircraft, capable of carrying a rocket to high altitude; the rocket would then separate from its carrier aircraft and fire its own engines to complete its climb into orbit. If successful, this project would be

7399-624: The 1950s, MIT began deploying university-owned land to innovative private sector companies and developing partnerships with local organizations to support the commercialization of ideas stemming from the university. In the ensuing decades, life sciences and pharmaceutical companies began to cluster in the area. Today, Kendall Square houses over 150 biotech, IT, technology and clean energy companies. Firms such as Google, Microsoft, Amgen, Biogen and Novartis have large offices in Kendall Square. Hundreds of startups have been formed and are headquartered in

7550-399: The 1959 inventions of the monolithic integrated circuit (IC) chip by Robert Noyce at Fairchild, the first commercial MOS IC was introduced by General Microelectronics in 1964. The first single-chip microprocessor was the Intel 4004 , designed and realized by Federico Faggin along with Ted Hoff , Masatoshi Shima and Stanley Mazor at Intel in 1971. In April 1974, Intel released

7701-503: The 20 most inventive towns in America were in California, and 10 of those were in Silicon Valley. San Jose led the list with 3,867 utility patents filed in 2005, and number two was Sunnyvale, at 1,881 utility patents. Silicon Valley is also home to a significant number of " Unicorn " ventures, referring to startup companies whose valuation has exceeded $ 1 billion dollars . A world-renowned technology hub, San Francisco Bay Area has

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7852-620: The 20th annual Grace Hopper Celebration of Women in Computing conference to actively recruit and potentially hire female engineers and technology experts. The same month, the second annual Platform Summit was held to discuss increasing racial and gender diversity in tech. As of April 2015 experienced women were engaged in creation of venture capital firms which leveraged women's perspectives in funding of startups. After UC Davis published its Study of California Women Business Leaders in November 2006, some San Jose Mercury News readers dismissed

8003-662: The Allen Institute for Brain Science has taken a Big Science and open science approach to tackle projects. The institute makes research tools available to the scientific community using an open data model. Some of the institute's projects include the Allen Mouse Brain Atlas , Allen Human Brain Atlas and the Allen Mouse Brain Connectivity Atlas. The Allen Institute is also helping to advance and shape

8154-500: The Detroit Innovation District Advisory Committee with Nancy Schlichting, CEO of Henry Ford Health Systems , at the helm of the organization. The initiative dedicated 4.3 square miles of greater downtown Detroit to house small business incubators, train local aspiring entrepreneurs, and attract anchor institutions to the area. The area comprises only 3.1% of the city's land area, but already hosts 55% of

8305-539: The Ebola crisis. He also created a website called TackleEbola.org as a way to spread awareness and serve as a vehicle for donors to fund projects in need. The site highlighted organizations working to stop Ebola that Allen supported, such as International Red Cross and Red Crescent Movement , Médecins Sans Frontières , Partners in Health , UNICEF and World Food Program USA . On April 21, 2015, Allen brought together key leaders in

8456-520: The Ebola fight at the Ebola Innovation Summit in San Francisco. The summit aimed to share key learnings and reinforce the need for continued action and support to reduce the number of Ebola cases to zero, which was achieved in January 2016. In October 2015, the Paul G. Allen Family Foundation announced it would award seven new grants totaling $ 11 million to prevent future widespread outbreaks of

8607-401: The Kendall Square area as well. Significant real estate development has occurred recently, with approximately 1,000 new housing units built in the area since 2005. Seattle 's South Lake Union neighborhood transformed in the late 2000s from a low-rise industrial complex into one of the most thriving innovation hubs in the United States. In the early to mid-20th century, South Lake Union was

8758-655: The Lakeside Programming Club and find bugs in Computer Center Corporation 's software, in exchange for extra computer time. In 1972, after Evans' sudden death due to a mountain climbing accident, Gates turned to Allen for help finishing an automated class scheduling system for Lakeside. They then formed Traf-O-Data to make traffic counters based on the Intel 8008 processor. According to Allen, he and Gates would go dumpster diving during their teenage years for computer program code. Allen achieved

8909-560: The NFL". Under the helm of Allen, the Seahawks made the Super Bowl three times following NFC Championship victories ( 2005 , 2013 , 2014 ), and won Super Bowl XLVIII in February 2014. Allen's Vulcan Sports & Entertainment is part of the ownership team of the Seattle Sounders FC, a Major League Soccer (MLS) franchise that began play in 2009 at CenturyLink Field , a stadium which

9060-562: The Oxford Road Corridor. Recognising the region's ‘Core Strengths’ in Health Innovation and Advanced Materials, and ‘Fast Growth Opportunities’ focused on the future potential of Digital, Energy, and Industrial Biotechnology. In the 2018 Manchester City Council adopted a Strategic Spatial Framework for the Oxford Road Corridor to guide future development and protect the area's unique innovation eco-system. The Oxford Road Corridor

9211-655: The Portland Trail Blazers NBA team in 1988 from California real estate developer Larry Weinberg for $ 70 million. He was instrumental in the development and funding of the Moda Center (previously known as the Rose Garden), the arena where the Blazers play. He purchased the arena on April 2, 2007, and stated that this was a major milestone and a positive step for the franchise. The Allen-owned Trail Blazers reached

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9362-504: The Richard E. Robbins-directed film Girl Rising which tells the stories of girls from different parts of the world who seek an education. Globally, over 205 million households watched Girl Rising during the CNN premier, and over 4 million people have engaged with Girl Rising through websites and social media. Through the associated 10×10 program, over $ 2.1 million has been donated to help girls receive an education worldwide. Also in 2013, Vulcan Productions signed on as

9513-418: The Royal Navy, Portsmouth , in remembrance of the 1,415 crewmen lost. Since 2015, Allen funded the research ship RV  Petrel , which he purchased in 2016. The project team aboard Petrel was responsible for locating the Japanese battleship  Musashi in 2015. In 2017, at Allen's direction, Petrel found USS  Indianapolis , USS  Ward , the wrecks of the Battle of Surigao Strait and

9664-400: The Santa Clara Valley, and then north towards the Bay Area's two other major cities, San Francisco and Oakland , the term "Silicon Valley" came to have two definitions: a narrower geographic one, referring to Santa Clara County and southeastern San Mateo County , and a metonymical definition referring to high-tech businesses in the entire Bay Area. The term Silicon Valley is often used as

9815-432: The Stanford Research Park shortly after 1953. In 1954 Stanford originated the Honors Cooperative Program to allow full-time employees of the companies to pursue graduate degrees from the university on a part-time basis. The initial companies signed five-year agreements in which they would pay double the tuition for each student in order to cover the costs. Hewlett-Packard has become the largest personal-computer manufacturer in

9966-411: The U.S. patents for Poulsen arc radio transmission technology and founded the Federal Telegraph Corporation (FTC) in Palo Alto . Over the next decade, the FTC created the world's first global radio communication system, and signed a contract with the Navy in 1912. In 1933, Air Base Sunnyvale , California, was commissioned by the United States Government for use as a Naval Air Station (NAS) to house

10117-508: The United States, which has helped it to become a leading hub and startup ecosystem for high-tech innovation, although the tech ecosystem has recently become more geographically dispersed. It was in Silicon Valley that the silicon-based integrated circuit , the microprocessor , and the microcomputer , among other technologies, were developed. As of 2021 , the region employed about a half million information technology workers. As more high-tech companies were established across San Jose and

10268-458: The United States. A 2023 report found that the aggregate household wealth of Silicon Valley (including ultra-high net worth individuals ) was nearly $ 1.1 trillion, and less than 1% of the Valley's population held 36% of the wealth. Conversely, as of 2021, 23% of Silicon Valley residents were living below the poverty line . However, the meaning of the term "poverty" is dependent upon context; in Silicon Valley, it means something different because of

10419-548: The Valley's mysterious ways, their lawyer often served as their first coach, mentor, teacher, friend, and cheerleader who helped connect them to the Valley's startup ecosystem. As of 2022, the San Jose-Sunnyvale-Santa Clara metropolitan area had the highest average wage for lawyers in the United States, at $ 267,840. The Homebrew Computer Club was an informal group of electronic enthusiasts and technically minded hobbyists who gathered to trade parts, circuits , and information pertaining to DIY construction of computing devices. It

10570-469: The World. The Glasgow City Innovation District (GCID) is located in Glasgow , Scotland . GCID is Scotland's global hub for entrepreneurship, innovation, and collaboration and is centred within Glasgow's thriving Merchant City . As Scotland's first innovation district it is home to innovative companies and organisations who locate to nurture and accelerate inclusive growth, improve productivity, and develop world-class talent, research, and technology within

10721-442: The Younger . Proceeds from the auction benefitted undisclosed philanthropies. In 1989, Allen donated $ 2 million to the University of Washington to construct the Allen Library, which was named after his father Kenneth S. Allen, a former associate director of the University of Washington library system. In the same year, Allen donated an additional $ 8 million to establish the Kenneth S. Allen Library Endowment. In 2012,

10872-670: The airship USS Macon in Hangar One . The station was renamed NAS Moffett Field , and between 1933 and 1947, U.S. Navy blimps were based there. A number of technology firms had set up shop in the area around Moffett Field to serve the Navy. When the Navy gave up its airship ambitions and moved most of its west coast operations to San Diego , the National Advisory Committee for Aeronautics (NACA, forerunner of NASA ) took over portions of Moffett Field for aeronautics research. Many of

11023-487: The aptitudes and skills required by the networked, knowledge economy.” George Bugliarello of Polytechnic University in New York observed the emergence of “urban knowledge parks,” concluding that these urban parks develop around a knowledge institution in a city, provide public space or spaces for community activities, and possess high levels of density.” Ed Glaeser , an urban economist at Harvard University , also supported

11174-424: The area's high-tech firms. Frederick Terman , as Stanford University's dean of the school of engineering from 1946, encouraged faculty and graduates to start their own companies. In 1951 Terman spearheaded the formation of Stanford Industrial Park (now Stanford Research Park , an area surrounding Page Mill Road , south west of El Camino Real and extending beyond Foothill Expressway to Arastradero Road), where

11325-455: The area's leading companies and research centers to relocate to South Lake Union. The Oxford Road Corridor innovation district is a square mile in the south of Manchester's city centre where two of the UK's largest universities, the University of Manchester and Manchester Metropolitan University , are based alongside Manchester University NHS Foundation Trust . These organisations oversee the area in

11476-526: The area, acquiring the Manchester Technology Centre in 2003 and developing Manchester Science Park, and Citylabs both of which have  designated Life Sciences Enterprise Zone status, and Circle Square which is home to over 35 digital tech businesses including Hewlett Packard Enterprise , Northcoders, Blair Project and Tootoot. Cortex Innovation Community in St. Louis , Missouri , United States ,

11627-516: The arts, and community services in his lifetime. The Paul G. Allen Family Foundation, which he founded with his sister Jody, was established to administer a portion of Allen's philanthropic contributions. Since its formation, the foundation has given more than $ 494 million to over 1,500 nonprofits; and, in 2010, Allen became a signatory of The Giving Pledge , promising to give at least half of his fortune to philanthropic causes. Allen received commendations for his philanthropic commitments including

11778-647: The arts. On October 15, 2012, the Americans for the Arts gave Allen the Eli and Edythe Broad Award for Philanthropy in the Arts. Allen loaned out more than 300 pieces from his private art collection to 47 different venues. The original 541-page typescript of Bram Stoker 's novel Dracula was in his collection at one point. In 2013, Allen sold Barnett Newman 's Onement VI (1953) at Sotheby's in New York for $ 43.8 million, then

11929-414: The basis for many electronic developments for decades. Both Frederick Terman and William Shockley are often called "the father of Silicon Valley". Unlike many other researchers who used germanium as the semiconductor material, Shockley believed that silicon was the better material for making transistors. Shockley intended to replace the current transistor with a new three-element design (today known as

12080-448: The benefits of urban redevelopment strategies. Place-based, knowledge-based urban development strategies, such as of an innovation district, can, in contrast to traditional capital-led urban renewal programs, bring additional benefits, such as enhanced innovation capacities and branding, to local stakeholders that can be more progressively distributed. In Chattanooga 's Innovation District, the strategies that have been implemented to limit

12231-454: The birthplace of Silicon Valley. San Jose is Silicon Valley's largest city, the third-largest in California , and the 13th-most populous in the United States . Other major Silicon Valley cities include Santa Clara , Redwood City and Cupertino . The San Jose Metropolitan Area has the third-highest GDP per capita in the world (after Zürich , Switzerland and Oslo , Norway ), according to

12382-467: The chemicals used in the manufacture of integrated circuits . Technical, engineering, design, and administrative staffs were in large part well compensated. Silicon Valley has a severe housing shortage , caused by the market imbalance between jobs created and housing units built: from 2010 to 2015, many more jobs have been created than housing units built. (400,000 jobs, 60,000 housing units) This shortage has driven home prices extremely high, far out of

12533-560: The city's jobs and 11% of all companies in Detroit. The Raleigh-Durham area is home to one of the largest research parks in the world, Research Triangle Park . The park was a pioneering model in the 20th century for the sprawling research centers based in suburban corridors. It presently covers 7,000 acres of land and 22.5 million square feet. Over 190 companies and 50,000 employees work in the Research Triangle Park and it hosts some of

12684-544: The company's management team. Allen founded the Allen Institutes for Brain Science , Artificial Intelligence , and Cell Science , as well as companies like Stratolaunch Systems and Apex Learning . He gave more than $ 2 billion to causes such as education, wildlife and environmental conservation, the arts, healthcare, and community services. In 2004, he funded the first crewed private spaceplane with SpaceShipOne . He received numerous awards and honors, and

12835-452: The development of The Global Institute on Innovation Districts, an independent not-for-profit research organization. Research led by The Global Institute, further elaborates on this emerging geography in a growing body of research including: “The Evolution of Innovation Districts: The New Geography of Global Innovation,” “Tearing Down Real Walls: A Place-Based Approach to University-Industry Collaboration,” and “Positioning Innovation Districts as

12986-425: The digital and technological divides within the city's residents, through programs targeting young children, low-income communities, unemployed and underemployed persons. The urban strategy refers to a plan of action to make the downtown as a place interesting and welcoming to everyone, through placemaking , the creation of park and parkways, and events. More importantly, it aims to consciously shape programs to give to

13137-419: The district from its original College Hill location in 2011, and numerous life science, tech, and sustainable energy companies have moved to the area including Johnson & Johnson , Ørsted (company) , and Boskalis , as well as research facilities for nearby Rhode Island Hospital and Women & Infants Hospital . A 200,000 square foot laboratory building is currently in development, and Brown University

13288-667: The diversity hire. He described being isolated from his team, and constantly having to prove he could do the job he was hired for. In 2014, tech companies Google , Yahoo! , Facebook , Apple , and others, released corporate transparency reports that offered detailed employee breakdowns. In May, Google said 17% of its tech employees worldwide were women, and, in the U.S., 1% of its tech workers were black and 2% were Hispanic/Latino . June 2014 brought reports from Yahoo! and Facebook. Yahoo! said that 15% of its tech jobs were held by women, 2% of its tech employees were black and 4% Hispanic. Facebook reported that 15% of its tech workforce

13439-679: The downtown area's business district. In July 2000, a unanimous vote by the Barcelona City Council approved the Amended Metropolitan Master Plan for the redevelopment of the El Poblenou area. The project was named the 22@ Project, representing a play on the previous urban classification name, "22a", that designated the exclusive use of an area for industrial production. According to the City Council, “Thus, 22@ Project

13590-510: The early 1970s. In turn, in the 1970s and 1980s, Xerox's Palo Alto Research Center (PARC) played a pivotal role in object-oriented programming, graphical user interfaces (GUIs), Ethernet , PostScript , and laser printers . While Xerox marketed equipment using its technologies, for the most part its technologies flourished elsewhere. The diaspora of Xerox inventions led directly to 3Com and Adobe Systems , and indirectly to Cisco , Apple Computer , and Microsoft . Apple's Macintosh GUI

13741-581: The early 1980s, at the time of the introduction of the IBM PC and numerous related hardware and software products to the consumer market. The urbanized area is built upon an alluvial plain within a longitudinal valley formed by roughly parallel earthquake faults. The area between the faults subsided into a graben or dropped valley. Hoefler defined Silicon Valley as the urbanized parts of "the San Francisco Peninsula and Santa Clara Valley". Before

13892-414: The early 2000s, European and American cities began to mimic these areas through policy and planning by dedicating zones exclusively for the purpose of clustering entrepreneurs, startups, business accelerators and incubators. These spaces are easily accessible via public transportation , wired for public Wi-Fi , support mixed-use development , and nurture collaboration and knowledge-sharing. Barcelona

14043-646: The endowment was renamed the Kenneth S. and Faye G. Allen Library Endowment after Allen's mother (a noted bibliophile) died. In 2002, Allen donated $ 14 million to the University of Washington to construct the Paul G. Allen Center for Computer Science and Engineering. The building was dedicated in October 2003. In 2010, Allen announced a gift of $ 26 million to build the Paul G. Allen School of Global Animal Health at Washington State University , his alma mater. The gift

14194-848: The entertainment division of Vulcan Inc. Their films have received various recognition, ranging from a Peabody Award to Independent Spirit Awards , Grammys and Emmys . In 2014 alone, Allen's film, We The Economy, won 12 awards including a Webby award for best Online News & Politics Series. The films have also been nominated for Golden Globes and Academy Awards among many others. Vulcan Productions' films and documentary projects include Far from Heaven (2002), Hard Candy (2005), Rx for Survival: A Global Health Challenge (2005), Where God Left His Shoes (2006), Judgment Day: Intelligent Design on Trial (2007), This Emotional Life (2010), We The Economy (2014) Racing Extinction (2015) and Oscar-nominated Body Team 12 (2015). In 2013, Vulcan Productions co-produced

14345-615: The expansive growth of the tech industry, the region had been the largest fruit-producing and packing region in the world up through the 1960s, with 39 fruit canneries. The nickname it had been known as during that period was "the Valley of Heart’s Delight". Silicon Valley was born through the intersection of several contributing factors, including a skilled science research base housed in area universities, plentiful venture capital , permissive government regulation, and steady U.S. Department of Defense spending. Stanford University ’s leadership

14496-773: The first festival took place in May 2017. It was cancelled in 2019 following Allen's death in 2018. In November 2022, Allen's art collection was auctioned at Christie's New York . It was the biggest sale in art auction history, surpassing $ 1.5 billion in sales. Six works sold for more than $ 100 million: Seurat 's Les Poseuses Ensemble (Petite version) , ($ 149 million, with fees); Paul Cézanne 's 1888-90 La Montagne Sainte-Victoire ($ 138 million); van Gogh's Verger avec cyprès ($ 117 million); and Gustav Klimt 's 1903 Birch Forest ($ 105 million). The auction also included paintings by Botticelli , David Hockney , Roy Lichtenstein , Edward Hopper , Andy Warhol , Jasper Johns and Jan Brueghel

14647-459: The first quarter of 2023. More traditional industries also recognize the potential of high-tech development, and several car manufacturers have opened offices in Silicon Valley to capitalize on its entrepreneurial ecosystem . Manufacture of transistors was for a long time the core industry in Silicon Valley. The workforce was for the most part composed of Asian and Latino immigrants who were paid low wages and worked in hazardous conditions due to

14798-401: The first wholly privately funded space transport system. Stratolaunch, which is partnering with Orbital ATK and Scaled Composites, is intended to launch in inclement weather, fly without worrying about the availability of launch pads and to operate from different locations. Stratolaunch plans to ultimately host six to ten missions per year. On April 13, 2015, Vulcan Aerospace was announced. It

14949-480: The high cost of living to the success of the industries in this region. Although, this rift between high and low salaries is driving many residents out who can no longer afford to live there. In the Bay Area , the number of residents planning to leave within the next several years has had an increase of 35% since 2016, from 34% to 46%. The wealth inequality in Silicon Valley is more pronounced than in any other region of

15100-482: The higher amount of work that Gates was doing. According to Allen, Gates said that he "did almost everything on BASIC " and the company should be split 60–40 in his favor. Allen agreed to this arrangement, which Gates later renegotiated to 64–36. In 1983, Gates tried to buy Allen out at $ 5 per share, but Allen refused and left the company with his shares intact; this made him a billionaire when Microsoft went public. Gates later repaired his relationship with Allen, and

15251-641: The jury found in favor of Kleiner Perkins on all counts. Nevertheless, the case, which had wide press coverage, resulted in major advances in consciousness of gender discrimination on the part of venture capital and technology firms and their women employees. Two other cases have been filed against Facebook and Twitter. A 2017 study showed that white males made up the majority of higher positions, with 58.7% holding executive positions and 46.5% being managers. The second highest position holders were Asian men, with 16.3% having executive positions and 17.9% being managers. African/Black and Hispanic/Latino people had

15402-543: The knowledge they gained from their previous employer. This gave Silicon Valley an advantage over other American tech hubs such as Massachusetts Route 128 curving around Boston . The San Francisco Bay Area had long been a major site of United States Navy research and technology. In 1909, Charles Herrold started the first radio station in the United States with regularly scheduled programming in San Jose . Later that year, Stanford University graduate Cyril Elwell purchased

15553-464: The largest biotech and pharmaceutical companies in the world, including GlaxoSmithKline and Cisco Systems . Leaders of the Research Triangle Park in 2012 unveiled a master plan to reinvent the physical location of the park. Believing that the current layout was not conducive to collaboration, competition and knowledge-sharing, they recognized the need to redevelop office into an innovation district-like layout. The 50-year master plan will be centered on

15704-408: The largest concentration of high-tech companies in the United States, at 387,000 high-tech jobs, of which Silicon Valley accounts for 225,300 high-tech jobs. Silicon Valley has the highest concentration of high-tech workers of any metropolitan area, with 285.9 out of every 1,000 private-sector workers. Silicon Valley has the highest average high-tech salary in the United States at $ 144,800. Largely

15855-530: The lowest percentages in all categories. Harvard Business Review published an article in 2018 discussing diversity and inclusion and gave statistics on black employees along with advice to future black technicians. LeRon L. Barton, a black man who spent over two decades in Tech, gave an insight on his work experiences. He said he saw no one who looked like him in his profession and said he received many comments that he believed disregarded his skill such as being called

16006-449: The man who inspired us all to strive for ways to empower the world's problem-solvers, Paul Allen. Without a doubt, he would have been exceptionally proud to see his aircraft take flight". Upon its flight, the airplane became the largest in history by wingspan . As of the end of May 2019, Stratolaunch Systems Corporation had ceased operations. Allen's Vulcan Real Estate division offers development and portfolio management services, and

16157-591: The most underrepresented groups a sense of ownership of the innovation district. The housing strategy refers to the creation of affordable housing . In the case of Chattanooga, it is pursued through property tax breaks to real-estate developers and through a not-for-profit organization, Chattanooga Neighborhood Enterprise (CNE). In the end, the ability for districts to advance innovation and equitable growth indeed requires deep intentionality and leadership. The Global Network of Innovation Districts—a group of 23 districts worldwide—is discussing how best to organize and design

16308-460: The negative externalities of the knowledge economy can be regrouped into three main categories: socio-economic, urban, and housing. The socio-economic strategy refers to the promotion of entrepreneurship to underrepresented groups in the entrepreneurial community through programs, such as mentoring, coaching, seed capital access, and entrepreneurial assistance. The socio-economic strategy also involves digital training and STEAM education as to bridge

16459-523: The oldest innovation districts in the United States—Vey reached this conclusion: “In Philadelphia, as in most cities, it is not gentrification that is widening the gap between the people and communities who are succeeding in this economy and those who are not: It's the rise in concentrated poverty.” The fear of displacement , which is dominating the debate about gentrification, is hindering the discussion about genuine progressive approaches to distribute

16610-406: The original companies stayed, while new ones moved in. The immediate area was soon filled with aerospace firms, such as Lockheed , which was the area's largest employer from the 1950s into 1980s. Stanford University , its affiliates, and graduates have played a major role in the development of the culture of collaboration among high-tech companies. A powerful sense of regional solidarity shaped

16761-467: The origins of Silicon Valley firms, including via investments from Fairchild 's eight co-founders. The key investors in Kleiner Perkins and Sequoia Capital were from the same group, directly leading to Tech Crunch 2014 estimate of 92 public firms of 130 related listed firms then worth over US$ 2.1 trillion with over 2,000 firms traced back to them. Another important pillar of the Valley's success

16912-646: The outlook of inventors and engineers in California; contrasting markedly from the insular and competitive environment of engineering firms on the East Coast of the United States . From the 1890s, Stanford University's leaders saw its mission as service to the (American) West and shaped the school accordingly. At the same time, the perceived exploitation of the West at the hands of eastern interests fueled booster-like attempts to build self-sufficient local industry. Thus regionalism helped align Stanford's interests with those of

17063-541: The playoffs 19 times including the NBA Finals in 1990 and 1992 . According to Forbes , the Blazers were valued at $ 2.09 billion in 2021 and ranked No. 13 out of 30 NBA teams. Allen purchased the National Football League 's Seattle Seahawks in 1997 from owner Ken Behring , who had attempted to move the team to southern California the previous year . Herman Sarkowsky, a former Seahawks minority owner, told The Seattle Times about Allen's decision to buy

17214-440: The possibility that sexism contributed in making Silicon Valley's leadership gender gap the highest in the state. A January 2015 issue of Newsweek magazine featured an article detailing reports of sexism and misogyny in Silicon Valley. The article's author, Nina Burleigh , asked, "Where were all these offended people when women like Heidi Roizen published accounts of having a venture capitalist stick her hand in his pants under

17365-520: The predecessor to Craigslist began operations. Silicon Valley is generally considered to have been the center of the dot-com bubble , which started in the mid-1990s and collapsed after the NASDAQ stock market began to decline dramatically in April 2000. During the bubble era, real estate prices reached unprecedented levels. For a brief time, Sand Hill Road was home to the most expensive commercial real estate in

17516-549: The range of production workers. As of 2016 a two-bedroom apartment rented for about $ 2,500 while the median home price was about $ 1 million. The Financial Post called Silicon Valley the most expensive U.S. housing region. Homelessness is a problem with housing beyond the reach of middle-income residents; there is little shelter space other than in San Jose which, as of 2015, was making an effort to develop shelters by renovating old hotels. The Economist also attributes

17667-646: The record for a work by the abstract artist. In 2015, Allen founded the Seattle Art Fair, a four-day event with 60-plus galleries from around the world including the participation of the Gagosian Gallery , David Zwirner . The event drew thousands and inspired other satellite fairs throughout the city. In August 2016, Allen announced the launch of Upstream Music Fest + Summit, an annual festival fashioned after South by Southwest . Held in Pioneer Square ,

17818-490: The region's severe housing shortage and high housing prices. As of 2023, the low-income poverty threshold set by the California Department of Housing and Community Development for single-person households in the counties of San Francisco, San Mateo, and Marin was $ 104,400, followed by $ 96,000 for the county of Santa Clara. In contrast, the 2023 national low-income poverty threshold set by the U.S. Census Bureau for

17969-476: The restructuring, Gates became president of the company and chairman of the board, and Allen became executive vice president and vice chairman. The relationship between Allen and Gates became strained as they argued even over small things. Allen effectively left Microsoft in 1982 after being diagnosed with Hodgkin's lymphoma , though he remained on the board of directors as vice chairman. Gates reportedly asked Allen to give him some of his shares to compensate for

18120-619: The seed money to build SETI 's Allen Telescope Array , eventually contributing $ 30 million to the project. The Paul Allen's flower fly was named in recognition of his contributions to Dipterology . Allen provided more than $ 7 million to fund a census of elephant populations in Africa, the largest such endeavour since the 1970s. The Great Elephant Census team flew over 20 countries to survey African savannah elephants. The survey results were published in 2015 and showed rapid rates of decline which were accelerating. He began supporting

18271-486: The south end of Lake Union. In 2012, The Wall Street Journal called Allen's South Lake Union investment "unexpectedly lucrative" and one that led to his firm selling a 1,800,000-square-foot (170,000 m ) office complex to Amazon.com for US$ 1.16 billion, one of the most expensive office deals ever in Seattle. "It's exceeded my expectations", Allen said of the South Lake Union development. Allen purchased

18422-662: The southern part of the San Francisco Bay Area , it corresponds roughly to the geographical area of the Santa Clara Valley . The term "Silicon Valley" refers to the area in which high-tech business has proliferated in Northern California, and it also serves as a general metonym for California's high-tech business sector. The cities of Sunnyvale , Mountain View , Palo Alto and Menlo Park are frequently cited as

18573-451: The team, "I'm not sure anybody else in this community would have done what [Allen] did." In 2002, the team moved into Seahawks Stadium (now known as Lumen Field ), after Allen invested into the upgrade of the stadium. Acquired for US$ 200 million in 1997, the Seahawks were valued at $ 1.33 billion in August 2014 by Forbes , which says the team has "one of the most rabid fan bases in

18724-841: The tech industry, "This is the next step in the civil rights movement" while T. J. Rodgers has argued against Jackson's assertions. According to a 2019 Lincoln Network survey, 48% of high-tech workers in Silicon Valley identify as Christians , with Roman Catholicism (27%) being its largest branch, followed by Protestantism (19%). The same study found that 16% of high-tech workers identify as nothing in particular, 11% as something else, 8% as Agnostics , and 7% as Atheists . Around 4% of high-tech workers in Silicon Valley identify as Jews or Buddhists , 3% as Hindus , 2% as Muslims and 1% as Satanists . The following Santa Clara County cities are traditionally considered to be in Silicon Valley (in alphabetical order): Paul Allen Paul Gardner Allen (January 21, 1953 – October 15, 2018)

18875-529: The time of his death in October 2018. Allen quit from day-to-day work at Microsoft in early 1983 after a Hodgkin lymphoma diagnosis, remaining on its board as vice-chairman. He and his sister, Jody Allen , founded Vulcan Inc. in 1986, a privately held company that managed his business and philanthropic efforts. He had a multi-billion dollar investment portfolio, including technology and media companies, scientific research, real estate holdings, private space flight ventures, and stakes in other sectors. He owned

19026-479: The trends driving innovation districts, concluding that “employment growth is strongly predicted by smaller average establishment size, both across cities and across industries within cities.” Specifically, Glaeser studied the effect of a 10% increase in the number of firms per worker in a given city and concluded this was associated with a 9% increase in employment growth in the ensuing two decades. The growing demand and need for deeper practice-oriented research led to

19177-605: The two men donated $ 2.2 million to their childhood school Lakeside in 1986. They remained friends for the rest of Allen's life. Allen resigned from his position on the Microsoft board of directors on November 9, 2000, but he remained as a senior strategy advisor to the company's executives. In January 2014, he still held 100 million shares of Microsoft. Allen confirmed that he was the sole investor behind aerospace engineer and entrepreneur Burt Rutan 's SpaceShipOne suborbital commercial spacecraft on October 4, 2004. The craft

19328-506: The types of integrated strategies need to advance equitable growth in the face of growing disparities. As innovation districts evolve, in other word, they are developing a deeper, more impact-focused value proposition, which includes growing the skills and talent of local communities. Silicon Valley Silicon Valley is a region in Northern California that is a global center for high technology and innovation . Located in

19479-607: The university leased portions of its land to high-tech firms. Terman nurtured companies like Hewlett-Packard , Varian Associates , Eastman Kodak , General Electric , Lockheed Corporation , and other high-tech firms, until what would become Silicon Valley grew up around the Stanford University campus. In 1951, to address the financial demands of Stanford's growth requirements, and to provide local employment-opportunities for graduating students, Frederick Terman proposed leasing Stanford's lands for use as an office park named

19630-410: The various models of innovation districts and their effects on economic growth and job creation. Bruce Katz and Julie Wagner at the Brookings Institution , wrote “The Rise of Innovation Districts: A New Geography of Innovation in America.” In their research, Katz and Wagner describe the components of successful innovation districts; the economic and demographic trends leading to their rise; and describe

19781-566: The virus. In 2012, along with his research team and the Royal Navy , Allen attempted to retrieve the ship's bell from HMS  Hood , which sank in the Denmark Strait during World War II, but the attempt failed due to poor weather. On August 7, 2015, they tried again and recovered the bell in very good condition. It was restored and put on display in May 2016 in the National Museum of

19932-493: The weekly trade newspaper Electronic News . In preparation for this report, during a lunch meeting with marketing people who were visiting the area, he heard them use the term. Earlier uses outside journalism exist; for example, a May 1970 advertisement in the Peninsula Times Tribune described a Palo Alto company that "helps production people in Silicon Valley." However, the term did not gain widespread use until

20083-417: The world for developing hightech systems and solutions. The Innovation District of Medellín is a proposal for the transformation of the city: social, urban and economic, which seeks to convert the north of the city into an innovation ecosystem that concentrates citizens, entrepreneurs, companies and institutions within the knowledge economy, participate in joint projects and make Medellín a hub of Innovation in

20234-420: The world, and the booming economy resulted in severe traffic congestion . The PayPal Mafia is sometimes credited with inspiring the re-emergence of consumer-focused Internet companies after the dot-com bust of 2001. After the dot-com crash, Silicon Valley continues to maintain its status as one of the top research and development centers in the world. A 2006 The Wall Street Journal story found that 12 of

20385-524: The world, and transformed the home-printing market when it released the first thermal drop-on-demand ink-jet printer in 1984. Other early tenants included Eastman Kodak , General Electric , and Lockheed . In 1956, William Shockley , the co-inventor of the first working transistor (with John Bardeen and Walter Houser Brattain ), moved from New Jersey to Mountain View, California , to start Shockley Semiconductor Laboratory to live closer to his ailing mother in Palo Alto . Shockley's work served as

20536-527: Was Columbus, Ohio . As a member of the International SeaKeepers Society , Allen hosted its proprietary SeaKeeper 1000TM oceanographic and atmospheric monitoring system on all three of his megayachts. Allen funded the building of microgrids , which are small-scale power grids that can operate independently, in Kenya, to help promote reusable energy and empower its businesses and residents. He

20687-539: Was Silicon Valley Bank (SVB), founded in 1983 by a group of former Bank of America executives. Before its 2023 collapse , SVB specialized in providing banking services to Silicon Valley entrepreneurs and their startup firms. SVB's original primary commercial lending product was a working capital line of credit , secured by a startup's accounts receivable . In contrast to traditional banks, who focused their commercial lending on already-established businesses, SVB specialized in lending money to small startup companies in

20838-434: Was 9.4% in January 2009 and has decreased to a record low of 2.7% as of August 2019. But in April 2020, when unemployment was at its peak, it stood at 13.7% and has since fallen to 5.7% in July 2021. Silicon Valley received 41% of all U.S. venture investment in 2011, and 46% in 2012. During the period from 2019 to 2021, Silicon Valley's share of U.S. venture capital investment dropped to 35.9%, but had surged back to 41% as of

20989-451: Was also controlled by Allen. The ownership team also includes film producer Joe Roth , businessman Adrian Hanauer , and comedian Drew Carey . The Sounders sold out every home game during its first season, setting a new MLS record for average match attendance. Allen and his sister, Jody Allen , together were the owners and executive producers of Vulcan Productions , a television and film production company headquartered in Seattle within

21140-420: Was an American businessman, computer programmer, researcher, film producer, explorer, sports executive, investor and philanthropist. He co-founded Microsoft Corporation with his childhood friend Bill Gates in 1975, which was followed by the microcomputer revolution of the 1970s and 1980s. Allen was ranked as the 44th-wealthiest person in the world by Forbes with an estimated net worth of $ 20.3 billion at

21291-563: Was an early investor in the Mawingu Networks, a wireless and solar-powered Internet provider which aims to connect rural Africa with the world, and Off Grid Electric, a company focused on providing solar energy to people in emerging nations. In 2014, Allen pledged at least $ 100 million toward the fight to end the Ebola virus epidemic in West Africa , making him the largest private donor in

21442-488: Was created to foster startups , giving a boost to entrepreneurs. Northern California was even more welcoming, with a group of venture capitalists actively seeking high-tech business ideas, clustered on Sand Hill Road in Menlo Park and Palo Alto . California 's civil code undermined the usual non-compete clauses that effectively tied employees to their companies in other states, allowing California workers to freely apply

21593-447: Was developed and flown by Mojave Aerospace Ventures , which was a joint venture between Allen and Rutan's aviation company, Scaled Composites . SpaceShipOne climbed to an altitude of 367,442 feet (111,996 m) over the Mojave Air and Space Port and was the first privately funded effort to successfully put a civilian in suborbital space. It won the Ansari X Prize competition and received

21744-457: Was employed at Seattle Computer Products . As a result of this transaction, Microsoft secured a contract to supply the DOS that ran on IBM's PC line, which opened the door to Allen's and Gates' wealth and success. The company restructured on June 25, 1981, to become an incorporated business in its home state of Washington (with a further change of its name to "Microsoft Corporation, Inc."). As part of

21895-533: Was especially important in the valley's early development. Together these elements formed the basis of its growth and success. The United States was more friendly than other countries to business investment, charging much lower taxes on capital gains since the Revenue Act of 1921 , and featuring particularly loose free market controls over new business. In 1953, the Small Business Administration

22046-679: Was female, and 3% was Hispanic and 1% was black. In August 2014, Apple reported that 80% of its global tech staff was male and that, in the U.S., 54% of its tech jobs were staffed by Caucasians and 23% by Asians. Soon after, USA Today published an article about Silicon Valley's lack of tech-industry diversity, pointing out that it is largely white or Asian, and male. "Blacks and Hispanics are largely absent," it reported, "and women are underrepresented in Silicon Valley—from giant companies to start-ups to venture capital firms." Civil rights activist Jesse Jackson said of improving diversity in

22197-459: Was fueled by the emergence of venture capital on Sand Hill Road , beginning with Kleiner Perkins and Sequoia Capital in 1972; the availability of venture capital exploded after the successful $ 1.3 billion IPO of Apple Computer in December 1980. Since the 1980s, Silicon Valley has been home to the largest concentration of venture capital firms in the world. In 1971, Don Hoefler traced

22348-499: Was largely a result of Steve Jobs ' visit to PARC and the subsequent hiring of key personnel. Cisco's impetus stemmed from the need to route a variety of protocols over Stanford University 's Ethernet campus network . Commercial use of the Internet became practical and grew slowly throughout the early 1990s. In 1995, commercial use of the Internet grew substantially and the initial wave of internet startups, Amazon.com , eBay , and

22499-551: Was largely abandoned. The 1992 Summer Olympics in Barcelona gathered thought-leaders in the city to begin crafting a plan to redevelop the El Poblenou neighborhood. Over the next 7 years, transportation initiatives were created to connect the then-isolated space to more vibrant parts of Barcelona . In 1999, this project was completed with the opening of the Avinguda Diagonal (Diagonal Avenue), which connected El Poblenou to

22650-795: Was listed among the Time 100 Most Influential People in the World in 2007 and 2008. Allen was diagnosed with non-Hodgkin lymphoma in 2009. He died of septic shock related to cancer on October 15, 2018, at the age of 65. Shortly after his death, in April 2019, the Allen-funded Stratolaunch first flew and became the largest aircraft in history by wingspan . Allen was born on January 21, 1953, in Seattle , Washington, to Kenneth Sam Allen (a librarian) and Edna Faye (née Gardner) Allen (a fourth-grade teacher). From 1965 to 1971 he attended Lakeside School ,

22801-475: Was started by Gordon French and Fred Moore who met at the Community Computer Center in Menlo Park . They both were interested in maintaining a regular, open forum for people to get together to work on making computers more accessible to everyone. The first meeting was held as of March 1975 at French's garage in Menlo Park , San Mateo County, California ; which was on occasion of the arrival of

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