European innovation regions and ambitious European entrepreneurs share a keen eye for how Silicon Valley succeeded in becoming the world capital of innovation, entrepreneurship, and hightech startups. European trade missions to Silicon Valley come and go. They all want to understand and learn from the “secret” of this most successful technological and economic region in the United States. Many of them are entrepreneurs who want to make the difference with a long cherished business dream of settling in Silicon Valley. Of becoming part of the world's leading innovative hub that fosters high growth startups, nurtures a competitive entrepreneurial spirit, and celebrates a vibrant culture of talent, seizing opportunity, and distinctiveness. But is this a smart dream? Should they stay or should they go? Imagine a student with startup plans or a beginning entrepreneur. Is going to Silicon Valley a wise and feasible option? What should be the main drivers of the cross-Atlantic migration decision calculus? What are the determining success or failure factors? Based on our study of the Silicon Valley entrepreneurial mindset and the anatomy of the region's innovation and startup system, we come up with twelve practical guiding principles that may facilitate this complicated and far reaching decision-making process. Or perhaps more accurately: preconditions that are crucial for a successful business transition to the Valley. These guiding principles have to do with psychological framing, entrepreneurial thinking, venture capital, self-presentation and personal branding, team building, strategic learning and business redefinition, perseverance and hard work, networking, and last but not least the ability to enjoy all the nice things Silicon Valley has to offer. The practical guiding principles should help entrepreneurs in deciding whether or not to move their business to the Valley.

Passion, Passion, Passion

One thing is crystal clear: without being deeply passionate about your business and product there is nothing to gain from going to Silicon Valley. Your passion determines whether you qualify for venture capital, whether talented and scarce employees want to work for you, whether you excel in networking and leadership, and whether the right people want to team up with you. And we’re talking real passion, real commitment: an almost obsessive drive to be successful.