The late 1960s and early 1970s saw a fundamental change in the semiconductor market. From Mike Judge, watch HBO's hit show, Silicon Valley. With Silicon Valley Bank, grow your business with the bank used by 50% of US-based, venture-backed tech and life science companies. Our editors will review what you’ve submitted and determine whether to revise the article. This applies to individuals, companies, communities, countries, and societies. At war’s end he returned to Stanford as dean of engineering, intent on transforming Stanford into a West Coast MIT. We help traditional companies take the full advantage of the new technological revolution to transform themselves into  technology-powered businesses. It is roughly bounded by San Francisco Bay on the north, the Santa Cruz Mountains on the west, and the Diablo Range on the east. As such, Silicon Valley is also a state of mind, an idea about regional economic development, and part of a new mythology of American wealth. Indeed, personal relationships were as important in the age of the Internet as they were when the U.S. government gave out military research funding in the early years of the Valley’s development. Early in the 20th century the area now called Silicon Valley was a bucolic region dominated by agriculture and known as the “Valley of Heart’s Delight” owing to the popularity of the fruits grown in its orchards. Please refer to the appropriate style manual or other sources if you have any questions. Second, he solicited military contracts to fund academic research by faculty members who had worked in microwave technology during the war. Develop your employee skills with top talents and professionals of Silicon Valley in online workshops, live webinars or sessions at your office. Our mission is to identify, invest in, and accelerate the transformative leaders throughout this emerging Global Silicon Valley. In Silicon Valley it was possible to establish a corporation, find venture capital, rent space, hire staff, and be in business within a matter of weeks. By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. ... Silicon Valley Bank and other PPP lenders had no input … Qwasar Silicon Valley is a global leader in innovative, skills-based learning, and tech talent development. I think we can all agree that Silicon Valley needs more adult supervision right about now. This was one of the great ironies of the boom economy of the 1990s. Long before the personal computer, the start-up was the culture of the Valley. We are fully online and remote-ready, meaning there is no need to travel to Silicon Valley because we can bring the best of the Valley to you. * Explore Startup Banking *Approximate. Ring in the new year with a Britannica Membership, From semiconductors to personal computers, https://www.britannica.com/place/Silicon-Valley-region-California, The Balance - Silicon Valley, America's Innovative Advantage. Omissions? Yet, through all this frenetic growth, personal contact remained central to the Valley way of doing business. Leverage Silicon Valley to find resources for the exponential growth of your business, Find leading venture capital funds and invest in the most promising technology startups, Organize Silicon Valley event to elevate your company to thought leadership position, We help global corporations grow by empowering them with new technologies, top experts and best startups. In 1951 Terman spearheaded the creation of the Stanford Industrial (now Research) Park, which granted long-term leases on university land exclusively to high-technology firms. 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