It’s an exciting time for Silicon Slopes, the high-technology community along the I-15 corridor in Utah. At least four companies founded here are now worth over $1 billion dollars, and more may soon follow.
Other major companies, such as eBay, have opened offices in the area. If you live here, it might be a perfect time to get more involved in your community through the Chamber of Commerce.
Silicon Slopes started when Alan Ashton and Bruce Bastian began to sell WordPerfect from Orem in 1980, attracting high-tech talent. The sale of WordPerfect to Novell in 1994 allowed the Ashton family to create Thanksgiving Point, the home of many tech companies today, and helped other entrepreneurs launch further ventures.
Certain major high-technology firms today still have headquarters or offices in Utah County, including:
Qualtrics—acquired by SAP for $8 billion
Vivint—acquired by Blackstone for $2 billion
Adobe—acquired Orem-based Omniture for $1.8 billion
Micro Focus (formerly Novell)—acquired WordPerfect for $1.4 billion in stock
Domo—valued at nearly $1 billion
Microsoft—corporate sales office
InsideSales.com
Ancestry
Workfront
MaritzCX
Owlet
Instructure
Jive Communications
Chatbooks
Talented employees and entrepreneurs continue to pour out of Utah Valley University and Brigham Young University. Founders start companies in Utah County to take advantage of these educated young people, as well as the area’s technological resources.
There are several reasons Silicon Slopes will likely continue to grow. First, many successful entrepreneurs want to repeat their success here, instead of moving away. Shortly after Josh James sold Omniture to Adobe for $1.8 billion, he founded Domo, which is now valued at nearly $1 billion. He even founded the nonprofit organization SiliconSlopes.com to promote the area.
Improvements to Utah’s infrastructure also encourage business growth. The development of the I-15 Tech Corridor in Lehi could ease traffic for employees, even as some companies place their offices close to rail stations.
Finally, outside investment in Silicon Slopes has grown. Between 2010 and 2012, venture capital firms sent about $1.1 billion to companies in Silicon Slopes. That figure rose to $2.5 billion between 2013 and 2016.
In the Utah Valley Chamber of Commerce, you can network with people who are on the front lines of the growth of Silicon Slopes. Discuss the latest events, meet other leaders and professionals, collaborate, and get involved with important decisions.
We also love to have fun and learn at Chamber events. So, join us today. There are still many opportunities ahead and many new business ideas and technologies we can explore together.
