Stanford Research Park (SRP) is a technology park established in 1951 as a joint initiative between Stanford University and the City of Palo Alto. It has more than 150 companies, including Hewlett-Packard, Tesla Motors, TIBCO and VMware; previously, it housed high-profile companies, including Steve Jobs's NeXT Computer, Xerox PARC, and Facebook. It has been called "an engine for Silicon Valley" and "the epicenter of Silicon Valley".