After learning about the basic situation of the Yangtze River Delta integration, Russell Hancock, chairman and CEO of Silicon Valley Joint Investment, said that there is no government planning for the formation and development of Silicon Valley. The pattern of integrated development is different from the construction of the Shanghai Science and Technology Innovation Center and the Yangtze River Delta. As the world's most famous hot spot for innovation and entrepreneurship, Silicon Valley's success factors are worth learning: First, focus on the atmosphere of innovation and entrepreneurship, "people value good ideas and want to make money through it"; second, high tolerance for failure, encouragement of adventure atmosphere, because the failure rate of innovation and entrepreneurship is high; third is the developed venture capital market; fourth, there are a large number of high-tech talents in the labor market; and fifth, there are a large number of specialized entrepreneurial service organizations.
At present, Silicon Valley faces three dilemmas: high housing prices, traffic congestion, and inadequate public facilities. To this end, the local government has invested millions of dollars to build affordable housing, and doubled bridge toll in the Bay Area two weeks ago. "But I don't think these measures are enough." Hancock said helplessly.
In his view, the Yangtze River Delta has three major advantages compared with Silicon Valley: First, the population is more populated, and more highly educated and highly skilled workforce. Second, the government is strong and can guide the development of the region through planning. Third, the public infrastructure is available, providing residents with a convenient living environment. “The Chinese government’s proposal to promote collaborative innovation in urban agglomerations is an achievement in itself. In the United States, cities compete for resources and lack the concept of collaborative innovation.”
This article sourced from June 22nd, " Shanghai Observer ", June 26th "Liberation Daily". Author: Yu Taoran