1. In technology, those winners have a way of producing more winners. The process reaches critical mass in the web of intertwined companies, resources, advantages, ideas, talent, opportunity, and serendipity that defines a technology cluster.
It’s clear that what’s essential is proximity to human talent and new ideas. Jean-François Formela, a venture capitalist at Atlas Venture who invests in early-stage biotechnology startups, says he visits Boston-area academic labs several times a week, trying to find the next invention that he can license and turn into a company. And because there are so many PhDs and MDs in the area, he can start a company and build a team remarkably fast. “People don’t even have to change buildings,” he says. “They just switch floors.”
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It’s clear that what’s essential is proximity to human talent and new ideas. Jean-François Formela, a venture capitalist at Atlas Venture who invests in early-stage biotechnology startups, says he visits Boston-area academic labs several times a week, trying to find the next invention that he can license and turn into a company. And because there are so many PhDs and MDs in the area, he can start a company and build a team remarkably fast. “People don’t even have to change buildings,” he says. “They just switch floors.”
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