After visiting Okinawa, Japan, and meeting with global experts on innovation, I?ve come to the conclusion that Silicon Valley?s greatest advantage isn?t its diversity; it is the fact that it accepts and glorifies failure. Like many other countries, Japan has tried replicating Silicon Valley. It built fancy tech parks, provided subsidies for R&D, and even created a magnificent new research university. Yet there are few tech startups, and there is little innovation; Japan?s economy is stagnant. There is a reason for this stagnation. In any country, innovation and economic growth come from startup ventures. But most Japanese don?t want to take the risk of starting a business. Indeed, the social stigma and financial repercussion of failure are so great that the founders of failed businesses become social outcasts; no one will work with them again or fund them; and all too often they end up committing suicide.
Source: http://feedproxy.google.com/~r/Techcrunch/~3/3M2xvgNhRZA/
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