Sir Michael also says the government will have to reconsider how they can develop start-up businesses around universities, following the pattern of hi-tech industries in the United States growing around Stanford University in California and MIT in the Boston area.

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He was one of the top gymnasts in the United States when he attended Stanford University.

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Silicon Valley is near Stanford University, for example, and similar high-tech clusters are gathered around MIT near Boston in the United States and around Cambridge University in Britain.

ECONOMIST: Idea: Clustering | The