la startup industry report 2013

8/13/2019 LA Startup Industry Report 2013

1/15

SEMI-ANNUAL

L.A. SARUPINDUSRYREPOR2013

Los Angeles Startups In FocusAn In-Depth Look at the LA Startup Ecosyste

Brought to you by BeGrea


2/15

act, the city's startup ecosystem is making waves on a global scale and ranks only two behind Silicon Valley,cording to a recent report rom Startup Genome. Based on levels o unding, startup numbers, company

erormance, entrepreneur demographics and more, the report ranked Los Angeles third among 20 internationalartup ecosystems. Silicon Valley obviously came in first; el Aviv was No. 2.

reater Los Angeles startup ecosystem, which spans rom Ventura to Pasadena to San Clemente, is increasinglyealing the spotlight rom Hollywoods historical dominance. Experts and participants in the space attribute thisowth to a confluence o events:

High unemployment during and ollowing the recessionA greater offering o university entrepreneurship programsSecond- and third-generation LA entrepreneurs staying active, and most importantly, staying put

the past ew years in particular, startup activity in Los Angeles gained increasing momentum thanks ton influx o technical talent, capital, accelerators and incubators. At least 36.1 percent o LA accelerators andcubators operating today opened in 2011 and 2012 alone.

the first hal o 2013, opening o new accelerators, incubators and co-working spaces has slowed, but overallartup activity across all key sectors remains high.

While the definition o a startup varies rom source to source, even among the startups them-lves, one thing is or sure: Los Angeles is becoming a orce to be reckoned with in the countrysartup ecosystem.

Executive Summary

According to startup community website Built in LA, 94 new startups launched rom January to June, witstartups as a whole raising about $500 million in unding. Nine companies were acquired during that timcollectively earning more than $153 million rom exits.

Among the greater ecosystems hot sectors in 2013 are digital media, sofware and I, and consumer prodand services, which is consistent with 2012.

On a regional level, though, some sectors are more popular than others. While Downtown LA is known apparel and cleantech, or example, Orange County excels in the lie sciences, including biotech and meddevices.

Although Silicon Beach and Orange County remain the LA startup ecosystems overall leaders, other lesseknown regions have been budding with activity over the past year and particularly in the first hal o 2013Pasadena launched the Innovate Pasadena initiative to increase awareness about and encourage collaboraamong its strong startup community that had long operated in a vacuum. Meanwhile, Downtown LA is cbuilding its massive La Kretz Innovation Campus to house the two-year-old LA Cleantech Incubator.

Despite the strong startup ecosystems in Silicon Valley and in New York City on the East Coast, an estimastartups make their home in Los Angeles because the city offers them something other ecosystems dont. are key financial advantages as well as a number o economic and cultural trends linking startups with edinvestors, entrepreneurs and more.

But peoples awareness is whats really growing, says entrepreneur Matthew Goldman. Los Angeles mayyears behind Silicon Valley, but its going to catch up over time.

Los Angeles ranked No. 3 topglobal startup ecosystem

#3of LA startup accelerators andincubators opened in 2011 and

2012 alone

36.1% 94 $500new startups launched from

January to June 2013million raised in funding in

2013, collective $153 millioin exits


3/15

Pasadena Share of Total LA Startups 3.2%

Key SectorsBusiness Products & Services

Sciences, Engineerin

Notable Startups OpenX, Wallaby Financial, U

OC Share of Total LA Startups 9.4%

Key SectorsBiotech, Medical Devices, Phar

Gaming, Business Products &

Notable Startups Specific Media, AnyMeeting,

Silicon Beach Share of Total LA Startups 35.9%

Key SectorsIT, Software, Mobile, Internet, D

Consumer Products & Se

Notable StartupsLettuce, ShoeDazzle, Riot Gam

Media, Surf Air, SnapC

Downtown Share of Total LA Startups 5.1%

Key Sectors Fashion/Apparel, Green & C

Notable Startups Milk & Honey, Make.tv, MySocia20Jeans

West LA Share of Total LA Startups 9.4%

Notable Startups Pagewoo, Engplug, Socia

Culver City Share of Total LA Startups 3.5%

Notable Startups Maker Studios, Steelhouse,

South Bay Share of Total LA Startups 8.7%

Notable Startups JustFab, Echograph, Som

L.A. StartupEcosystem

y theNumbers

Outside of the key markets studied, the remaining share of startups is dispersedthe greater Los Angeles area, from Ventura in the northwest to Pomona in the noSan Clemente in the south.

Startups* 797VCs & Angels 50

Accelerators & Incubators 47Co-Working Spaces 36*Source: Represent.la

InformationTechnology25%

ConsumerProducts &Services22.7%

Technology20.5%

Media &Entertainment18.2%

LifeSciences13.6%

SiliconBeach

W

CulCity

SouthBay

Other

Pasadena

OrangeCountyWhere Are

The StartupsIn Los Angeles?

s Share* (%)

25.0al Media/Multimedia 29.5

ware 25.0net 20.5 & Cloud Technology 9.1

sumer Products & Services 22.7mmerce 9.1

hnology 20.5le/Wireless 20.5gy 15.9munications/Telecomm 15.9n/Green Tech 9.1iconductors 6.8

ware 6.8ainability 6.8r 4.5ia & Entertainment 18.2Sciences 13.6cal Devices 13.6

ech 13.6thcare 9.1cs 4.5ness Products & Services 6.8ncial Services 18.2rtising & Marketing 11.2

*Total surpasses 100 because most firms focuson multiple sectors

Where LA Invests


4/15

Schools

Art Center College of DesignCal Poly Pomona

California Institute of TechnologyCalifornia Lutheran University

ifornia State University - Dominguez Hills

California State University - Long BeachChapman University

Claremont McKenna CollegeEl Camino College

Harvey Mudd CollegeLoyola Marymount University

Marymount California University

Occidental CollegePepperdine

Pomona CollegeUniversity of California - Los Angeles

University of Southern California

Entrepreneurship Program/Division

The Design AcceleratorPoly FoundersJet Propulsion LaboratoryCenter for Entrepreneurship and GrowthInstitute for Entrepreneurship, Small BusinessDevelopment & Global LogisticsSociety for Innovation and EntrepreneurshipeVillage, Leatherby Center Student Incubator,K5 LaunchCenter for Innovation and EntrepreneurshipYouth Entrepreneurial ProgramHMC Entrepreneurial NetworkLMU CBA Business Incubator, Fred KiesnerCenter for EntrepreneurshipEnactus

OxypreneurshipGraziadio School of Business & ManagementPomona VenturesHarold & Pauline Price Center forEntrepreneurial Studies,UCLA California NanoSystems Institute,Startup UCLAViterbi Innovation Institute, AnnenbergInnovation Lab, Lloyd Greif Center forEntrepreneurial Studies

As Local Universitiesupply Startup alent


5/15

Silicon Beach 35.9%

A 3 mile stretch from SantaMonica to Playa Vista. Knownfor: SnapChat, ShoeDazzle,Lettuce, Google, Yahoo

Orange County 9.4%

Often overlooked, the OC is hometo the second highest share ofLA area startups. Known for:Biotech, Specific Media,Local.com

Downtown LA 5.1%

A new hotbed for growth withthe potential to overtake SiliconBeach in startup development.Known for: CleanTech Corridor,Nasty Gal, 350Green

Pasadena 3.2%

Fast-growing community home toone of the regions first startupaccelerators. Known for: Idealab,OpenX, Uber Media

Although startup activity isthroughout greater Los Angactivity has traditionaly cen

these four hotspots. These contain roughly 53.6% of sactivity with the following b

Silicon Beach 35.9%Orange County 9.4%Downtown LA 5.1%Pasadena 3.2%

Los Angeles is seeing rapidwill very likely have a dif ferby the end of 2013.

Startup Activity in GLos Angeles

Los AngeStartups

the M

Sources: http://represent.la/ www.squeezedinorangecounty.com/


6/15

Nearly 40 Percent o Startups Call this ech-CentricBeach Community Home

Te act that the three-mile stretch rom Santaonica to Playa Vista is being reerred to as Silicon

each speaks volumes to the regions influence inos Angeles greater startup ecosystem. Te buzzingeachside startup community houses more than5 percent o greater Los Angeles startups, with aajority operating in the tech space, particularlyfware and mobile technologies.

addition to the significant share o new players,e region thats being touted as Southern Caliorniaslicon Valley is home to a number o big names in

e tech space, too. Yahoo, Google, eHarmony andulu all have offices in the area, and slightly smallerot Games (League o Legends creator) and Demandedia (parent o eHow) are based in Santa Monica.n an even smaller scale, Silicon Beach is home to

opular new startups Snapchat, Sur Air, Instacan.vasnd Lettuce.

Te region also has the majority o greater Los Angelesco-working spaces and incubator/accelerators, withat least one-quarter o each. Well-known MuckerLab,Science Inc., LaunchPad and NextSpace are all basedin either Santa Monica or Venice Beach.

Mobile messaging company Mogreet is also based inSanta Monica, but co-ounder and CEO James Citrondidnt have the myriad incubator programs availableto him when he got started in 2006 (most launched in2011 and 2012). At that time, Silicon Beach was barelya blip on the startup radar: Te number o startups

was much smaller, and you could probably count ontwo hands the ones that were really going to make animpact, Citron says. But to him and co-ounder NormSchiman, locating here was a no-brainer; they knewtheyd be better off among the regions communityo talented content creators than up north in SiliconValley.

Silicon Beach

QUICK STATS

Share of total LA startups: 35.9%Key Sectors: IT, Software, Mobile,Internet, Digital Media, ConsumerProducts & ServicesNotable Startups: ShoeDazzle, RiotGames, Demand Media, Surf Air,SnapChat, Lettuce

Our technology-qualifiedworkorce, creative workspaces andleading broadband inrastructurewill keep our economy well-positioned or uture growth.Santa Monica Mayor RichardBloom

Before texting was even a thing, Jaknew it was going to be the commuplatform of the future. In 2004, trthrough China and Europe, where twas the only form of dig ital commopened his eyes to the potential fomessaging. Combined with the poadvertising, Companies could reathe power of the medium, he exphe and his business partner Norm set forth in 2006 to help companiejust that, launching Mogreet to contexting masses with advertisers looreach those consumers.

Fast-forward to today, when more tquarters of American cell phone otext messaging, and the foundersfaith has proven to pay off. Two-thMMS video goes through Mogreet,says, And were now the largest mcompany in Los Angeles. In April,Santa Monica-based startup annou

an acquisition by leading mobile pcompany Payvia, which is also heain Silicon Beach. Its very excitingour team, he says, But its also gfor Southern California. Its a stamcredibility that creates a ripple effecompanies in the greater ecosysteany humble entrepreneur, Citron dcongratulations, attributing the cosuccess to his incredibly talenteda strong startup community.

SPOTLIGHT

Startup:MogreetLaunched: January 2006Founder: Norm Schifman, JameSector: Advertising, marketingM&A Activity: April 2013 by Pay


7/15


8/15

An Up-and-Coming Market Determined to BringCleantech to the Masses

ong in a state o development, downtown Los Angelesfinally making a name or itsel in the greater startuposystem, albeit with a still-small 5.1 percent share oartups. Te urban communitys ashion and garmentstricts play host to a number o apparel brands andebsites, offering them easy access to supply and

xpertise.

more recent years, downtown has also becomenown or its ocus on green and clean technologies;e citys aptly named Cleantech Corridor is a our-

ile strip between the Los Angeles River and Alamedareet located in the popular arts district. In 2011,e city o Los Angeles launched the LA Cleantechcubator as one o many components o then-Mayorillaraigosas Green LA Plan. Since then, LACI hasuilt a portolio o 15 companies ocused on boostingstainability in Los Angeles.

lthough the program and its participation haventown to the level originally orecast, according toate Redmond, managing partner at Rustic Canyon

Partners, 2013 has been particularly noteworthy.First, LACI celebrated its first portolio company exit.In May, electric vehicle charging station operator350Green, which was the first startup to join theincubator, announced that it had been acquired byMiami-based Car Charging Group or $5.2 million.Second, construction commenced in June on LACIsLa Kretz Innovation Campus, which will include anew 30,000-square-oot acility or the incubator, aull-scale Cleantech Manuacturing Center and variousother acilities.

In addition to influence rom the ashion and cleantechsectors, downtowns startup scene has support romnearby USC, particularly the Marshall School oBusiness Lloyd Grei Center or EntrepreneurialStudies. USC is trying really hard to put something inplace that can support entrepreneurial activity withinreach o its students, Redmond says. So as moreyoung creative people locate down there and the areasschools get more involved, youre going to see morehappening.

Downtown LA

QUICK STATSShare of total LA startups:5.1%Key Sectors: Fashion/Apparel, Green &CleantechNotable Startups: Nasty Gal, 20Jeans,350Green, tCalifornia Lithium Battery

Downtown LA is seeing a resur-gence, so as it becomes a great placeto live, people will want to buildcompanies there, too.Nate Redmond, managing partner,Rustic Canyon Partners

Although neither Ilissa nor Dori Hoexperience in e-commerce or in lbusiness for that matter they weby the massive growth they were sthe space. So in 2011, they foundeHoney, a womens online shoe storthe shopper design her own pumpboots and more.

After graduating from Launchpad Laccelerator program (based in SanMonica), the creative energy from garment and fashion districts brousisters and their venture to DowntoAngeles. The excitement of the fadistrict watching dress racks beidown the streets and women in hecarrying bolts of fabric all plays weird and inspiring energy that is dLA, says Dori. They also couldnt rent at $1 per square foot compareMonica prices at $3 to $4 and Newprices at $30.

Milk & Honey is one of several newfashion/apparel e-commerce compin the downtown area, including stNasty Gal, The Daily Look and 20Jare slowly turning into a real forcesays, One that will grow with timeapparel entrepreneurs learn of theareas potential. Although the sucbrand could potentially afford Santrent prices today since launchinghave more than doubled and the bprofitable Dori says, Were stayi

SPOTLIGHT

Startup:Milk & HoneyLaunched: January 2011Founder: Ilissa & Dori HowardSector: Fashion/apparel, e-comCelebrity Partnerships: Molly SAkerman, Kathy Lee Gifford, Ka


9/15

Distance rom Silicon Beach Acts as Catalyst orBudding Startup Community

ar rom the buzz o Silicon Beach is the relativelyewer startup community o Pasadena. Although one LAs first accelerators, Idealab, is headquartered inasadena serial entrepreneur Bill Gross ounded itay back in 1996 the citys startup community is stillits inancy.

Tis year more than ever, though, it is becoming ay player in the greater LA startup ecosystem duelarge part to efforts by Gross and several other

cal entrepreneurs, experts and investors as part onovate Pasadena.

t wasnt until I launched my own company that theeed or support and a greater startup community

Pasadena became more apparent, says VC turnedntrepreneur Andy Wilson. He was spending at leastree hours a day on the road several days a weekying to attend as many events and presentations inanta Monica as possible. But that got old really ast.

pending that much time on the road and at events

while youre trying to start a company just doesntwork, Wilson says. Pasadena has a lot o players, butwe were all kind o working in a vacuum. I realized i Idedicated all the time I did on the road to connectingthose players, I could effectively instigate something.So the distance rom Santa Monica became a catalystto create our own community.

Pasadena only houses about 3.2% o greater LosAngeles startups and doesnt have the representationrom co-working spaces that Silicon Beach and otherstartup regions do, but its movers and shakers are

determined to change all that. Innovate Pasadenaslaunch event at the end o June received 700 RSVPs 200 more than it could actually host which was atrue testament to the citys potential. Although onlya handul o seed and early stage VCs are based inPasadena, that number is also anticipated to grow inthe coming years as startup numbers climb. Capitalshows up where the opportunities are, assures Wilson,So that will come.

Pasadena

QUICK STATSShare of total LA startups:3.2%Key Sectors:Business Products& Services, Research, Sciences,EngineeringNotable Startups:OpenX, Idealab,Central Desktop, Uber Media

Were sitting on a treasure trove ogeeky, techy people that just arentyet connected. Andy Wilson, co-chair Innovate Pasadena, ounderRexter

The inspiration for Wallaby Financievery time co-founder and CEO MaGoldman pulled out his wallet. Eaccame to pay, whether buying grocesettling a hotel bill on a work trip, to closely evaluate which credit carand the associated rewards membTheres always the best way to paof all of your choices, Goldman eBut you really need to have a helpguiding your choice. So Goldman up with would-be CTO and launcheFinancial to be that guiding hand fconsumers. Its offering of personaand purchasing tools smartphonweb apps and The Wallaby Card people optimize their credit card uon credit limit, statement due datebonuses, rewards programs and ot

Although Wallaby Financial has onaround since January 2012, Goldmbeen in tech his entire life, so hes

firsthand the expansion occurring Angeles. If you started a tech coma couple years ago, people would glook, he says. But now the convehappening are why a person shoulAngeles if theyre launching a starmost veterans in the citys startup he attributes a lot of the change togrowth in its accelerator and seed infrastructure. In fact, Wallaby wasfirst graduating class (April 2012) Monicas Muckerlab accelerlator.

SPOTLIGHT

Company:Wallaby FinancialLaunched: January 2012Founder: Matthew Goldman, ToSector:Financial servicesInvestors:Founders Fund, WI HGroup, Karlin Ventures, MuckerQuotidian Ventures, Lion Wells SLP Ventures


10/15

vestors, startups and industry experts alike will agreeat one o the main reasons Los Angeles startup scene

ngers in the shadows o big sister Silicon Valley is theck o local early stages investors at all stages, really.

os Angeles needs additional unding andrastructure at the very earliest stages o venture

rmation, reports Santa Monica-based acceleratoruckerLab. It only has about one-tenth o the venturepital investment as compared to Silicon Valley.

With the startup movement gaining traction, though,Cs have been paying closer attention. In the two yearsnce he launched his successul brand o co-workingaces Real Office Centers, serial entrepreneur RoncElroy has noticed an increase in venture capitalms, amily unds, private investors and accelerators

that are ocusing on Los Angeles or investmentopportunities. Investments in ROC-based companiesare estimated at $50,000 to $200,000 in 2013, animpressive increase rom $25,000 to $50,000 in 2012.

On the whole, the average investment into a startup oran LA-area venture capital or angel firm is about $4.07

million, ranging rom $25,000 to $30 million. In total,startup online community Built in LA estimates thatLos Angeles startups have already raised $500 millionin the first hal o 2013, well on their way to surpassthe estimated $871 million raised in 2012. O theabout 50 angel and VC firms in greater Los Angeles,the majority are actually located in Orange Countyat nearly 30 percent, ollowed by West Los Angeles(which excludes Santa Monica) at 25 percent.ech continues to be the area where most unding

LAs InvestorsDigital Media, Sofware and Mobile ech SecureMost Investor Dollars

For all the press that New York City gets, Los

Angeles is actually returning at a higher level.Nate Redmond, managing partner, Rustic Canyon Partne

goes, but in particular, Los Angeles firms areinvesting highly in digital media, sofware and mobiletechnologies. Fashion (within the greater consumerproducts category), media and entertainment, whichrank high by nature, also see a air share o investmentdollars. Te tech ocus dominates Silicon Beach andWest LA too, but across other regions, there is muchmore diversification: Orange County is known or itsocus on biotech and medical devices, albeit with a

sprinkling o gaming startups; Downtown LA housesboth ashion and green technologies; and Pasadena is a

hub or B2B and proessional services and resear

Each startup hotspot has its own flavor, explainsAndy Wilson, a VC turned entrepreneur based oo Pasadena. Its like a mosaic, with each tile havits own detail. But when you put it all together asgreater LA, you have to integrate the tiles into a bmosaic.

$4.07 million$1.32 billion

Average Investmen

Average Value

Los Angelesat a Glance


11/15


12/15

LAs Accelerators& Incubators

nother point that players in LAs startup scene agreen is the regions exemplary accelerator and incubatorrastructure, a more recent trend that has kick-

arted much o Los Angeles recent startup activity.

lthough Pasadena-based Idealab and the Businessechnology Center o Los Angeles County have botheen around since 1996 and 1998, respectively, theajority o accelerators and incubators in greater Losngeles are all relatively new.

atthew Goldman remembers around the time heunched his consumer financial services company innuary o last year, one o his colleagues was going toart an accelerator. Ten within six weeks there wereveral more, he says. It was an idea whose time hadme.

t least 21.3 percent o todays 47 accelerators andcubators were already in existence beore 2012, buten at least 19.1 percent opened in 2011, alone; 17.0

ercent launched in 2012.

Although expansion has slowed urther in 2013,primarily due to saturation in key startup markets,a ew opened their doors in the first hal o the year,

including the Ventura BioCenter and the South BayEntrepreneurial Center. Tese two are also exampleso organizations catering to less saturated markets.Mirroring the breakdown o investors, accelerators andincubators are concentrated in Orange County, SiliconBeach, West LA and Pasadena.

Despite the high concentrations in these key markets,activity and tenancies remain high as entrepreneursand startups increasingly seek out the educational,collaborative and supportive environments that theseorganizations offer.

Ron McElroy, who ounded a brand o similarcollaborative startup environments, confirms thissentiment: Te natural collisions between communitymembers oster an exchange o ideas or better ways tosolve problems, be it writing code, developing creativesolutions or merging job opportunities or companies.

Launching Companies, Launching the Entire Ecosystem

45% of LAs Startup FacilitatorsOpen In The Past Three YearsLaunch Year Share of 2013 total* (%)

Pre-2011 21.32011 19.12012 17.02013 8.5

More than 75 percent oincubated businesses are stillin business afer five years

versus less than 20 percentwithout incubation. SouthBay Entrepreneurial Center

Facilitators by RegionRegion Share (%)

Orange County 17.0Silicon Beach 14.9West LA* 10.6Pasadena 10.6Downtown LA 4.3South Bay 4.3Other 38.6

Truly the first of them all, Idealab launchedin 1996 under founder Bill Gross visionto help create pioneering technologycompanies. In addition to funding, Idealab

offers its participating startups office space,mentorship, marketing and branding services,financial and HR advice and more. To date, itshelped build about 100 companies and hasseen 30 exits.

Many of the ideas and startups that havecycled through Idealab are Gross own.Evolution Robotics, his venture in personalrobotics, was acquired by iRobot for $74million in 2012. And under his mobile ad firm

UberMedia, he launched a new mobile aplatform in May of this year that targetsusers based on their location and socialdata. Also this year, Idealab accepted a

accelerator into its own program. The DeAccelerator, created in a partnership betCaltech and the Art Center College of Dein June, is housed in Idealab and focuseearly stage design and technology busin

Idealab continues to be a strong and vosupporter of entrepreneurs and startupssays managing director Tom McGovern. excited to see the additional attention bepaid to [those] in the greater LA area.

SPOTLIGHTCompany: IdealabFounder: Bill GrossHeadquartered:Pasadena

Notable Alumni: Picasa, CitySearcheToys, Overture

*Includes Beverly Hills, Century City, Westwood, Brentwood

*Years for remaining share were unavailable


13/15


14/15

lthough the steam behind Los Angeles startuposystem has been pushing it along at a ast pace ine past ew years, the growth is coming off years oow movement and the city still has a lot o potential.

Te leading markets have plenty o accelerators,cubators and co-working spaces, so ideally provenands explore untapped markets. Be Great Partners

sel is headed in that direction, with plans or ninee Great Lab co-working spaces in the works. Whileme are planned or the key startup markets o Santaonica, Pasadena and Downtown LA, some areanned or more underrepresented areas in the space,cluding Sherman Oaks and Century City.

unding is also key, and the region can alwayse more o it at all stages. As Andy Wilson onovate Pasadena said, Capital shows up wheree opportunities are, so investors will come to theartups as activity picks up.

While the influx o technical talent, incubationograms and capital have been big or small

usinesses, investors and entrepreneurs alike say theg deals and exits are what will really put Los Angeles

n the map.

What happens in the later-stage deals is whats goingto be big, says Michael Green o ech Coast Angels.What will send LA soaring is a big exit where youhave a significant number o people making money that would really help. Teres already a lot o activityand a lot o excitement, so time will tell what creamrises to the top.Te local industry has already been headed down thatpath or the past ew years, according to estimates romthe LA Mayors Council on Innovation and Industry.

From 2009 to 2012, the number o mergers andacquisitions in Southern Caliornia as a whole hasincreased rom 63 in 2009 to about 170 in 2012,representing strong growth o 28.2 percent per year onaverage, including a 56 percent spike in 2012. Similaris anticipated or 2013 and the coming year, withPasadena-based OpenX being a prime contender.

In the next 12 months, well see a ew high-profileexits and IPOs, orecasts Matthew Goldman oWallaby Financial. Game-changing events like thosecan catalyze an entire region, significantly growing thenumber o startups and the local talent pool. And as aSouthern Caliornia entrepreneur, thats what I want tosee.

Outlook


15/15

About Be Great PartnersBe Great Partners (BGP), a leadingtechnology incubator in Los Angeles, has anactive $6-million und to expand Los Angeles'startup ecosystem and bring the most talentedtech startups and continued long-termjob growth to Los Angeles, specifically itsMiracle Mile. Te company is seeking big-

data projects to invest average capital rangingrom $25,000 to $50,000, while providingthe startups with strong mentorship, world-class acilities and a team o 25 innovativedevelopers. Be Great Partners works directlywith entrepreneurs to develop their project'sull potential. For more inormation pleasevisit BeGreatPartners.com.

About this ReportTe research and writing o this report wascontracted by Be Great Partners to a private,unbiased third party. Research was conductedover a three-week period in September 2013and included numerous in-person interviews,comparative studies with existing sourcesand extensive qualitative and quantitativeresearch. Unless otherwise noted, all data areestimates.

Sources include but are notlimited to:

CreditLindsay Holloway, Lead Writer & Research

Emily Viernere, Research InteLayout and Design by mediaHREEsix

Brought to you by BeGreat.

For Additional Inormation Please Em

ino@begreat

Built In LACrunchBaseEntrepreneur.comFindTeBestForbes.comLA Mayors Councilon Innovation andIndustry

LAimes.comRepresent.LAStartupNation.comSoCalech.comSilicon ValleyBusiness JournalSeedableStartup Caliornia

la startup industry report 2013

Documents