Silicon Valley has been and continues to be one of the world’s most important centers of innovation and technology disruption. Given the Valley’s nearly unique set of assets—the presence of technology giants, world-class universities, abundant venture capital, and a hypercompetitive yet collaborative culture that celebrates both risk and failure—the Northern California region’s recipe for innovation has rarely been replicated. Large enterprises are increasingly venturing into the Valley to draw upon “outside-in” innovation, but they often stumble due to cultural, structural, and regulatory hurdles. To be able to harness Silicon Valley’s innovation ecosystem to their advantage, enterprises should have clearly stated objectives and direction, as well as a deep understanding of the local environment.

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