Many countries have, or are in the process of creating, their own "Silicon Valley". So far, none has as yet threatened the preeminence of the US prototype. What makes Silicon Valley such a unique entity? There are several crucial factors.
First and foremost, it has the largest concentration of brilliant computer professionals and the best supporting services in the world, and easy access to world-class research institutions, like Stanford University, which continually nurtures would-be geniuses which the industry needs in order to move forward. Without these advantages, the Valley would be a different place.
Secondly, it actively encourages, or even exalts, risk-taking. Hence, failure holds no terror and there is no stigma attached to a failed effort. On the contrary, they will try even harder next time round. Such never-say-die approach is the sine qua non for the ultimate triumph in entrepreneurship and technological breakthrough.
A third decisive factor is the vital role of venture capitalists who willingly support promising start-ups with urgently needed initial capital to get them started. Some would even give failed entrepreneurs a second chance if convinced that a fresh concept might lead to eventual success.