There are benefits s and disadvantages to being in Silicon Valley, and we could discuss about it all day long. Not every big technology company is based in Silicon Valley, and there are many prosperous entrepreneurs who aren't in the valley. Nevertheless, I bet you that you consider that all those entrepreneurs think whether it wouldn't be better to be in Silicon Valley. More often than not, it absolutely would be better.
Europe has no option but to reinvent itself to become more like Silicon Valley. Entrepreneurs, not the government, will literally change the world. While the government's role is to promote entrepreneurship, definitely the government on its own isn't competent of changing Europe fast enough.
Silicon Valley is a state of mind. To build Silicon Valley in Europe, Europe has to embrace Silicon Valley's culture first. That culture was born from the desire to constantly recreate everything, including oneself. That is what keeps Silicon Valley important , and what Europe needs to follow most. Once Europe has developed a Silicon Valley-like culture, it can moderately mix in the other ingredients that make Silicon Valley prosperous : money, smart venture capitalists, great engineering talent, better productive talent, and more. But let's begin with the culture.
There are other conditions of the Silicon Valley culture that all of Europe should embrace. The Silicon Valley culture inspires people from all over the world with distinctive cultural backgrounds and different skills to physically come together, help each other, and try to create something innovative.
Another important aspect is to adopt the American Dream thinking : the equal belief that everyone is capable to succeed through hard work.
America's social history wasn't certainly nice , but it has developed a culture where multiculturalism, ethnic dissimilarity and deliberate capitalism are part of the national character. I'm worried it may take Europe a couple generations to truly embrace such a culture.
Unlike Silicon Valley, Europe product specialists are emboldened to stick to what the product or solution does, instead of exploring creative thinking.
The education system is also mentioned as a big contributing aspect. Memorizing a series of facts is the recommended style of learning in Europe ; while innovative , demanding or lateral thinking is not viewed in such high regard. Other popular aspects that have been observed are a national fear of failure; lack of access to funding; deficiency of great marketeers; and a lack of business analysts with applicable knowledge to guide a startups’ push into a market.
Many people with great potential to become successful entrepreneurs a compromise everyday between a decent salary with no fear of tomorrow, or building a startup.’
In short, Europe is struggling to shift from outsourcing to innovating.
Also , it’s important to share ideas .To become more positive in building something unique .To not be afraid to make things possible is the most important aspect that Europe should do.