Kendall Square: Is it the Next Silicon Valley?

Kendall Square, located in Cambridge, Mass., is home to the world’s most solid concentration of startup companies. Is it on its way to be the next Silicon Valley?

Silicon Valley is famous for being home to the world’s largest technology corporations and thousands of startups. It is responsible for generating about a third of the U.S capital investment producing thousands of technology jobs to people. However, it is crowded now that other companies and startups decided to pick a different place to build its roots. One of them is the Kendall Square.

The Kendall Square is a wide business district which promotes “live, work, play” in the area. It currently homes 450 startups. Venture capital firms also office in this area that has a total fund of $8.7 billion. It first opened 15 years ago and slowly built its way to be a business district drawing more technology companies such as Amazon, Google, and other pharmaceutical companies.

In the height of it being recognized by businesses, the economic value of the land had also increased which is evident on the rental costs. The rent cost had increased to $70 per square from $35 a decade ago. The economic value may be compared to that of Manhattan.

This economic growth and moving in of startups are also good news for job hunters and headhunters as it means thousands of jobs. Most of the jobs in the area come from the startups offering opportunities for beginners who may soon to be winners. This was how Silicon Valley started, it started small, went bigger, until it becomes the biggest producing technological industry giants such as Apple, Google, Yahoo, Intel, Adobe, Cisco, and more.

So how can Kendall Square be the next Silicon Valley? The Massachusetts Institute of Technology (MIT) Technology Review Business Report predicts that one of the 450 startups might hit upon something big in years to come.