It’s not just students, either former Stanford president John Hennessy is currently chairman of Google’s parent company Alphabet. The result is a symbiotic relationship whereby Stanford provides tech companies with a constant supply of eager and talented new candidates, and the university gets to offer students the high possibility of getting scooped up for a lucrative job. Tech companies also pour grant money and donations into the university’s coffers at tremendous rates. “ was solidified in the 1940s when then-engineering dean Frederick Terman decided to lease large tracts of Stanford land to companies like Hewlett-Packard, so it would be easy for scientists and engineers to go back and forth.” “The relationship of Stanford to Silicon Valley goes back nearly a hundred years,” explains Stanford professor of sociology Mark Granovetter. Even today, Stanford provides a huge number of talented workers who go on to work in the Valley. The history of Silicon Valley is deeply intertwined with the elite educational institution Stanford Research Park, a joint development between the university and the Palo Alto local government, helped incubate companies like Facebook and HP. There are many factors that have contributed to Silicon Valley’s huge density of successful tech companies, but none is more vital than its proximity to Stanford University.
But why has the area seen such success, and what can other regions and budding tech hubs learn from it? People power
INNO WORLD SILICON VALLEY SERIES
Of course, Silicon Valley is not without its problems – which we’ll look at in more detail in part two of this series – but it’s nevertheless cemented itself as the centre of the tech revolution.
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