According to Merriam Dictionary, “hub” is a center of activity, a focal point in other term. Literally saying, business and technical hubs are center for businesses and technology. Most of the countries all over the world have these so called “business and technical hub”. It is not a necessity for specific country but in some manner, the state of a country’s economy become successful because of business and tech hubs established in that specific country.
SiliconValley in U.S. is the most famous business and tech hub in the world. The said Silicon Valley is just a small area in California but turned into a chart-topping tech hub since 1800’s until now in 21st century. Headquartered by early telegraph and radio companies in 1800’s, and now,notable companies have headquarters in Silicon Valley such as Apple Inc., Netflix and Adobe Systems.Source for more about Business and tech hub.
Silicon Valley boomed as a business and tech hub because of different factors. Business and tech hub is a home for innovations, this is the reason why entrepreneurs and investors seek for a perfect hub. Business and tech hub also needs an innovation, thus, there are lot of start-up business and tech hubs across the globe that are getting to be known. Especially in the region of Asia and Africa.Entrepreneurs surely set factors in choosing the best business and tech hub that is perfect for them. Most of the factors that an entrepreneur will consider are cost of living, manpower of the area, transportation and telecommunication.
Business and tech hubs help entrepreneurs and investors find prosperity and longevity through innovation. Choosing the best business and tech hub will depend on the necessity of the business or a project to be established by specific entrepreneur or company. In return, business and tech hub will help the community to have a successful economy through the works of entrepreneurs or companies.