Paul Graham has an in-depth essay on his blog on what it would take to start a Silicon Valley somewhere else — anywhere else. With recent buzz about the need for a “Silicon Valley” in Australia, this essay says it will take more than local VCs/angels living in an area who are willing to “give back” to the community, good universities and a decent climate where nerds will “feel at home”.
What will it take? Money — lots of it — but not so much that it can’t happen in Sydney or Melbourne or Portland, Oregon for that matter. According to Graham, “For the price of a football stadium, any town that was decent to live in could make itself one of the biggest startup hubs in the world.”
And how will this work? Read more.