Reflections on a study visit to Silicon Valley: What lessons can a South East European Region learn from the San Francisco Bay Area Innovation System?

Abstract

Based on a study tour to San Francisco organized by the INNOPOLIS, INTERREG IVC project, an attempt is made to identify the main elements of the Bay Area’s innovation system and draw up lessons for regions in the EU and especially the South-Eastern part of the EU. The paper examines the role of the higher education system, the role of culture and the role of the public sector in relation to creation and promotion of innovative entrepreneurship in the area and proceeds to compare them to the region of Central Macedonia in Greece. An attempt is also made to define the main characteristics that make the “Silicon Valley ecosystem” unique and provide useful insights for stakeholders and policy makers in regions with less well developed innovation ecosystems. The question whether the Silicon Valley ecosystem can be duplicated is answered in a negative way, but it is argued that nevertheless valuable conclusions and recommendations valid to any innovation ecosystem may be drawn.