Silicon Beach has become home to a number of tech startups, publicly traded companies and business incubators. Recent years have seen a wave of talent, innovation and investors that have fostered compelling new companies and, in some cases, acquisitions by larger Silicon Valley tech leaders. However, a number of startups have opted to stay in Los Angeles, while larger companies such as Google, Microsoft and Yahoo are building a presence. While still early in its development, the LA tech scene now has the core ingredients that helped launch Silicon Valley.
These ingredients include serial entrepreneurs, venture capital, support from local universities, and creating “a center where entrepreneurs gather to exchange ideas, inspire each other and find talent,” reports Investors Business Daily.
While the Los Angeles tech areas are spread apart geographically, Silicon Beach helped overcome the sprawl issue by serving as the main hub. Silicon Beach has become the center where entrepreneurs and investors gather.
Silicon Beach has also become increasingly successful in building a solid base of serial entrepreneurs. And while LA may have a relatively small number of local VC firms, connections to the nearby entertainment industry and some high-profile acquisitions have attracted larger firms from outside southern California.
Additionally, the area relies on help from USC and UCLA graduates. According to Investors Business Daily, entrepreneurs say the universities are “providing the inspiration and tools to foster startups.”
“L.A.’s tech ecosystem is really taking off in terms of turning innovation into real companies,” said Gil Elbaz, CEO of Factual, a data analytics platform for mobile devices. “The area has always been very innovative, but in the last five years we’ve seen this magical uptick in terms of everything coming together — the talent, ideas and investors.”
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