Silicon Valley is known for being the center of high-tech innovation and development. Silicon Valley is home to numerous technology corporations and an ever-growing population of start up companies. The Silicon Valley, which is a nickname for the San Francisco Bay area, began back in 1939 when William Hewlett and David Packard began their electronics company in Palo Alto.
Frederick Terman played a large role in the development of Silicon Valley. He encouraged Hewlett and Packard to start their business locally, and he went on to do the same with many of his other students at Stanford. Terman created a 660-acre industrial park on land that was given to him by the founder of the school, Leland Stanford. The original gift of land was 8,100 acres, and because it was required that the school never sell any of it, the industrial park land was leased, providing money for Stanford and offering a place for technology to grow. The first businesses to make their home in the industrial park were Hewlett-Packard and Varian Brothers. In 1968, Intel was born and moved to the industrial area as well. It was the development of the semiconductors and silicon chip manufacturers, by companies like Intel that gave the area in California its nickname.