Information Technology World

Even though the world is said to be slowly recovering from economic crisis that has seen many giants fall, the recession has taken a heavy toll on Silicon Valley, according to a recent report. "There are clear warning signs suggesting Silicon Valley has entered a new phase of uncertainty, and that our competitive standing is at risk," says '2010 Silicon Valley Index', a report by the Silicon Valley Community Foundation and the Joint Venture: Silicon Valley Network. The report said the economic crisis had resulted in 90,000 job losses in the Silicon Valley region alone between the second quarter of 2008 and the second quarter of 2009. Silicon Valley is no longer able to attract the foreign talent which has been its "lifeblood" and funding innovation through locally raised venture capital and public offerings "can no longer be taken as a given," the report said. As per the report, inflows from China and India to the Valley con...