The Next Big Idea May Be Growing Far from Silicon Valley

wired.com

6 pointscrufo2 comments

I certainly hope the next big ideas come from outside the Silicon Valley, but financing to make them grow is still very concentrated there.

Almost every single entrepreneur I've met here in Uruguay and Argentina hopes to go to SV to get financing.

I doubt the situation is different in Africa. There simply are no funding options.

The article itself says "challenged as we are for obtaining capital, for access to capital, access to the same opportunities as other entrepreneurial groups"

Most great ideas originate outside Silicon Valley, but the provincialism of the venture community there means that a mediocre idea in Palo Alto is much more likely to get funded than a really good idea anywhere else. Since only the funded survive, the resulting survivor's bias makes Silicon Valley look particularly innovative.

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