Geography Matters for Innovation

The New York Times writes:

Googles astonishing rise and Apples reinvention are reminders that, when it comes to great ideas, location is crucial. Face-to-face is still very important for exchange of ideas, and nowhere is this exchange more valuable than in Silicon Valley, says Paul M. Romer, a professor in the Graduate School of Business at Stanford who is known for studying the economics of ideas.

In short, geography matters, Professor Romer said. Give birth to an information-technology idea in Silicon Valley and the chances of success seem vastly higher than when it is done in another ZIP code.

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Rajesh Jain

An Entrepreneur based in Mumbai, India.