IP: Report foresees valley's recovery

[David Farber <dave () farber net>]

Report foresees valley's recovery
Silicon Valley may be in an economic slump, but the seeds of the next boom 
have already been planted, says a new report issued by a group of business 
and civic leaders.
Advancements expected to lead the economic revival include the combination 
of bio-science and information technology, use of the Internet to increase 
productivity and the ability to build electronic circuitry on a molecular 
scale.
The findings are presented in the report ``The Next Silicon Valley: Riding 
Waves of Innovation,'' prepared for Joint Venture: Silicon Valley Network.
Four major waves of technology innovation have shaped the valley since 
World War II, and often the key innovations occurred during the bust 
periods, including development of the personal computer and the Internet, 
the report said.
``Innovation is born out of adversity,'' said Doug Henton, president of 
Collaborative Economics and the report's author. ``We have gone through a 
recession; we've been through recessions before. It's going to be painful 
for people losing jobs, but what it may actually do is push us into a new 
period of innovation.''
In some cases, the Bay Area is especially qualified to lead the next 
revolution, Henton said. For example, he said, only Boston and the Bay Area 
have concentrations of biotechnology and information-technology sectors 
which, working together, can speed up product development, among other 
advancements.
Henton and Joint Venture executives said the report is designed to get 
business and civic leaders to spur economic development and workforce 
preparedness in advance of the next wave.
Joint Venture: Silicon Valley Network itself is attempting to emerge from a 
lackluster period by refocusing its mission on economic development.
Founded in 1992, under the leadership of former Hewlett-Packard Chief 
Executive Lew Platt and Applied Materials CEO Jim Morgan, Joint Venture's 
original goal was to help the valley recover from recession by bringing 
together civic, business and government leaders.
``It's exactly the same situation as when Joint Venture was formed,'' said 
Joint Venture Chairman Keith Kennedy. ``We feel this is an appropriate time 
to go back to our roots.''
Joint Venture, however, has been without a chief executive officer since 
February, when Ruben Barrales left for a job in the Bush White House.
Civic leaders say the group's revival is important, but it cannot remain 
leaderless.
``The challenge is to hire a new leader who can reconnect people who have 
lost interest, including high-tech companies and significant trade 
associations,'' said Jim Cunneen, who chose to take the top job at the 
Silicon Valley/San Jose Chamber of Commerce over the Joint Venture job.
But, Cunneen added, ``Joint Venture's the one organization that brings 
everyone to the table; it doesn't have an ax to grind.''

http://www.siliconvalley.com/docs/news/svfront/report120701.htm

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