San Diego Innovation Economy Doubles Start-up Rate and VC Funding Outpaces Most Regions with 90% Jump
There was a leap in the pace of launching new technology companies in the second quarter of 2009, CONNECT’s newly released Second Quarter 2009 Innovation Report shows. Start-ups were up 53% with 102 companies launched. In the first quarter of 2009 only 66 compa- nies were created. The increase over second quarter last year was 34% with 76 companies launched in the second quarter of 2008.
The CONNECT Innovation Report (CIR) is the first to provide an economic indicator of the strength and impact of the innovation economy in San Diego. Published each quarter by CONNECT, San Diego’s technology and life sciences accelerator, the Report includes:
- New innovation start-ups
- Venture capital investment
- Mergers and acquisition activity
- New patent applications and patents granted
- Research grants
- Research employment and wage
Overall, San Diego accounted for 14% of new technology businesses started in California, in the second quarter of 2009, ranking third after Los Angeles (LA) and Santa Clara counties. LA had 140 start-ups and Santa Clara had 117.
*From my friends at Innovation America