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Silicon Valley as the Startup Capital Leading the Early Development and Growth of the Internet and Mobile App Industry

Mon, May 29, 8:00 to 9:15, Hilton San Diego Bayfront, Floor: 3, Aqua 305

Abstract

Integrating theories from innovation economics and regional studies supported by empirical evidence, this study examines how Silicon Valley became the startup capital of the world in the current new wave of media innovation. The paper begins with explicating the importance of innovative milieu using Schumpeter's notion of Kondratieff business cycles. Next, secondary data of 176 current, emerging, and exited private Internet and mobile app companies valued at one billion dollars are compiled. Of these, 95 companies are located in Silicon Valley and 81 are located elsewhere. Next, Multivariate Analysis of Variances was performed to test if these groups differ from each other significantly in business and innovation performances. Findings from the Multivariate Analysis of Variances reveal that there was a statistically significant different in valuation and patent assignments between Silicon Valley companies and the rest, F(5, 169) = 9.963, p < .0005; Wilk's Λ = .772, partial η2 = .228.

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