If you ask any young aspiring capitalist or serial entrepreneur about where the center of anything technology related they would almost all point to Silicon Valley. This Valley has dominated the technological environment for an entire era of business revelations. From Facebook to iPhones to Search Engine masters, you’ll find them all nestled in Northern California. But what about that other city down below? What about Los Angeles?
Los Angeles has emerged as a dominant contender as the next “Silicon Valley”. In the past three years Los Angeles has had an entrepreneurial explosion, with start ups emerged from every possible tech field. All these new start ups are starting building quite the foundation for a highly progressive environment.
Los Angeles has shared their title with Boston. Another city that has had some relative growth in there own tech sector, and has actually dominate the runner-up position for quite some time until now. In 1995, Southern California had over $1.3 billion in capital investment, paltry compared to Silicon Valley’s almost $2 billion dollar investment pool. Boston was still a contender with about $0.8 billion. Shortly thereafter Boston began to give chase and surpassed Los Angeles as the new number one contender. Its changed all over again though.
Southern California has always been a great collective for independent minds to cultivate and thrive. It has happened in almost every industry, from fashion to aerospace and now technology. Corporations’ shadows don’t loom too large in Los Angeles. It’s more of a sanctuary for start ups. The Kauffman Foundation found that Los Angeles had the highest rate of entrepreneurial activity from 2009 to 2011. People in LA don’t just find jobs, they create them.
More and more people are starting to call LA home, including that one search engine company called Google who just established a major presence in the sunny city.
If you just take a stroll down Lincoln Blvd. or Abbot Kinney you will see a region vibrant with innovative ideas and creative companies. In the past three years there were over 285 tech start-ups in the region, more so than any other, including Silicon Valley. It is time for Los Angeles to rise to the occasion and establish that its only competency isn’t the better beaches, it’s the better business.