Must-Read: Marc Andreessen: Software Programs the World:

We frequently have delegations from all over the US and the world who come in and ask: “What can we do to have our own Silicon Valley?”…

…So we go through it–you want rule of law, ease of migration, ease of trade, R&D investments, no non-competes, fluid labor laws, ability to start and fold companies quickly…and at some point, the visitors get this stricken look on their face..and at the end of it, they’re like “What if we want Silicon Valley, but can’t do any of those things?”

So I’d argue the formula is well known, it’s just that people don’t want to apply it, for all kinds of reasons…. The good news is that it can be done, and then the other good news is that it is happening everywhere: South America, India, China, Middle East, Africa, Korea etc….