Emerging Start-Up Ecosystem: Is Hollywood the Next Silicon Valley?
By emeadows
September 18, 2012
September 18, 2012
- Hollywood is becoming a hotspot for start-ups. “Incubators and accelerators are popping up everywhere. Venture capitalists are becoming frequent fliers at LAX. Celebrities are stamping their names on new companies. And TV industry executives are quitting their jobs to become entrepreneurs,” according to Business Insider.
- Many successful entrepreneurs are investing in the Los Angeles start-up ecosystem. Investor Gary Vaynerchuk believes L.A. will eventually surpass both New York and San Francisco as the ultimate start-up location.
- “I’ve seen more and more founders coming from outside L.A. and moving here; there’s a bigger talent pool now,” notes investor Paige Craig. “I was really impressed at LA Startup Weekend. I hadn’t met half the founders before. And the schools are finally getting their kids to stay.”
- And Los Angeles is home to the TV and film industries, both of which are “ripe for disruption.”
- “With the massive growth of YouTube and Hulu and start-ups providing alternative solutions, the TV industry is really changing and it creates opportunity,” explains Greycroft partner Dana Settle. “L.A. has always had a ton of creative business people but tech has always been trumped by Hollywood. Now Hollywood is realizing it needs to be smarter in tech. Hollywood is finally crossing over and it’s really going to charge L.A. to be the next tech center. We’re at the very tip of the iceberg.”
- Celebrities are also playing a role in the start-up growth by funding various ventures. “Ryan Seacrest, Ellen DeGeneres, Christina Applegate, Justin Bieber and Justin Timberlake are just a few A-listers who have lent their names to support entrepreneurs,” writes Business Insider.
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