<p>"The university’s philosophy of theory and its application in the real world started a fast pace of groundbreaking inventions. The development of wireless communications at the beginning of the 20th century sparked a curiosity among Stanford professors. Cyril Elwell, a young engineering graduate from Stanford, set up shop in Palo Alto where he turned his bungalow on Cowper Street into a wireless telephone station. Elwell was unable to raise backing for his project, so Stanford President Jordan offered to invest $500 of his own money. This investment not only motivated other faculty members to back the project, it also marked the beginning of venture capitalism. </p>
<p>By the mid-1930s Palo Alto had built up a small electronics industry. Its infrastructure provided the framework for modern Silicon Valley. The connection between Stanford and local technology enterprises provided a stream of engineers and scientists who found jobs in the local industry and support in their research from the school. </p>
<p>Frederick Terman, dean of engineering at Stanford, was said to have been directly responsible for the rise of Silicon Valley. He wanted to set up a community of technical scholars in the valley. For that, he realized he needed companies with strong roots in the region. </p>
<p>He tightened the link between the university and local businesses by creating the Stanford Research Park. In order to increase the university’s revenues, Terman initiated the idea to lease the land surrounding Stanford’s campus to commercial industries. This plan created a permanent link between the school and industry and transferred technology from academia to the commercial market place. </p>
<p>Varian Associates was the first company to move into the Stanford Research Park in 1954. It was soon joined by Hewlett-Packard. "</p>
<p><a href=“http://www.paloaltoonline.com/weekly/morgue/listings/1997_May_30.2NDART30.html[/url]”>http://www.paloaltoonline.com/weekly/morgue/listings/1997_May_30.2NDART30.html</a></p>