This report addresses as the San Francisco Bay Area emerges from COVID-19 in 2022, will the global presence remain robust or will it shrink in the region, and how if at all will its business models change.
Innovation Platform
The Future of Global Technology and Innovation Collaboration in the San Francisco/Silicon Valley Bay Area
Introduction
A key characteristic of the San Francisco/Silicon Valley economy is the large array of globally headquartered companies that locate R&D facilities, accelerator programs, venture funds, science offices, or innovation outposts in the region. The scale and diversity of that presence reflects and supports the Bay Area’s role as the world’s leading platform for technology, innovation, and entrepreneurial activity, particularly in digital fields. Added to the historic flow of human capital from overseas and the region’s diplomatic community (the largest in the United States after Washington, DC, and New York), these entities are an important part of the region’s economic DNA, providing talent and global connections that magnify its capacity for innovation.
This report examines a range of organizations in this large international community, how they managed during the pandemic, and their plans for the future. The core questions it addresses are: what has changed in the last two years and how business models have been impacted, whether the San Francisco/Silicon Valley Bay Area is still perceived as the world’s leading center for technology innovation, and are these governments, organizations and companies committed to a sustained presence in the region.