ABSTRACT
Entrepreneurship has become one of the pillars of economic development. Since Marshall (1920) we have seen how vital is the milieu and the local environment for the success of new companies, which is why entrepreneurs tend to gather in geographical clusters. The emergence of new high-tech based industries — such as semi-conductors, computers, biotechnology, etc. — in certain well-determined geographical areas has incited dreams beyond the sphere of economics. With these exceptional cases being held up as models, repeated attempts have been made to reproduce these successes in regions designated as future Silicon Valleys.
