Opinion

March 29, 2022

Why corporates still want an innovation outpost in Silicon Valley

Despite talk of Silicon Valley being past its peak most Fortune 500 companies have an innovation outpost there to keep an eye on trends.


Alberto Onetti

6 min read

Photo by Michaela on Unsplash

Having an innovation outpost in Silicon Valley is still one of the main ways that corporations tap into innovation. My analysis has found that 319 out of the Fortune 500/Forbes 2000 companies have some kind of structured presence dedicated to innovation in the Bay Area. Despite talk that Silicon Valley may be past its peak, most companies are still flocking to the area to keep an eye on new trends, and there are 55k+ corporate innovation people currently deployed in Silicon Valley.

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Comparison of scaleup stats from Mind the Bridge
Source: Mind the Bridge Ecosystem, December 2021
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What corporate scouts are doing in Silicon Valley
Source: Mind the Bridge, Corporate Innovation in Silicon Valley - Report 2020, San Francisco, September 2020
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Chart showing how the number of innovation outposts in Silicon Valley has grown
Source: Mind the Bridge, Corporate Innovation in Silicon Valley - Report 2020, San Francisco, September 2020
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Corporate innovation activity in Silicon Valley, by industry
Source: Mind the Bridge, Corporate Innovation in Silicon Valley - Report 2020, San Francisco, September 2020
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