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Alliance Newsletter - December 4, 2018

Moving from Opportunity to Action

Alliance Commits to Integrated Program Strategy to Enhance Ecosystem


Since our launch in 2017, community members have often asked how a small non-profit like the Alliance could possibly have a meaningful impact on a region of almost 20 million people spread across 6 counties and 10,000 square miles with an economy of $1.2 trillion dollars (15th largest economy globally). A very reasonable question and one that I frequently contemplate myself.
 
Though we had some hunches informed by BCG’s strategic consulting work, we decided it was best to take that question to key SoCal community leaders and see what recommendations they might have. In the months of July, August and early September this year we conducted more than 60 stakeholder interviews (many of them in person) with leading entrepreneurs, venture capitalists, angels investors, non-profit leaders, corporate innovation executives and university/research administrators. Through those conversations and the context set by the BCG work, we have developed a three prong program strategy:
 


 
We are excited about this approach as it acknowledges the distributed and diverse nature of innovation that is unique to Southern California. It is our hope that as we build out and connect the node network, the region will grow its critically important entrepreneurial density. Great start-ups aren’t created in an abstract place called “SoCal” but in a lab in Riverside, a WeWork office in Hollywood or a garage in El Segundo. By engaging with node leadership, the region will be able to tackle thorny regional issues by taking solutions back to the field where the real action is taking place. Furthermore, we believe the effort to match top venture capital with the region’s greatest startups will, in the short term, increase startup success rates and, longer term, compel more VC’s to call SoCal home.

Now that the Alliance has developed a thoughtful and compelling roadmap that can move the ecosystem, our next task is securing the critical resources to bring it to life.  We are seeking funding sources and key partnerships, so if you or your company is committed to helping SoCal reach is full potential as a global innovation hub, please reach out to us and let us know how you might support or fund our important efforts at the Alliance. The regional impacts of the success of the Alliance can be huge - potentially 200k new direct jobs and 1 million indirect new jobs in the next decade!
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SoCal Unicorn Quest Recap

 

Thank you to everyone who came out to the Unicorn Quest on November 15th--we had over 200 attendees plus three emerging unicorn CEO’s in conversation with the all-star panel. Photos from the event are here, enjoy.
 

In The News


Best “Digital Cities” are in SoCal
Digital Cities Survey 2018 — Winners Announced
Open to all U.S. cities, the survey questions focused on the Top 10 characteristics of a Digital City: Open, Citizen-centric, Collaborative, Secure, Staffed/Supported, Connected, Efficient, Resilient, Innovative, with use of Best Practices. Read more.

USC Business School launches venture fund
The USC Marshall School of Business has launched a venture capital fund. The fund will invest in early-stage startups founded by USC students, alumni, faculty and staff. No financial terms were disclosed. Read more.

It’s getting crowded at the beach, companies growing elsewhere
After more than a decade of beachside prominence, LA tech juggernauts Snapchat, Google, Apple and Amazon are making their way east. The companies are settling into the guts of the city, where space is (marginally) more abundant and rent prices soar (marginally) less close to the sun. And, for context, we’re talking baby steps here — five or ten mile micro-migrations to neighborhoods like Fox Hills, Mar Vista and Sawtelle.  Read more.

ServiceTitan snags $165M, largest ever for SoCal
Leading management software platform for home service contractors raises largest vertical SaaS funding round, led by Index Ventures; new funds will be used to fuel rapid growth, expand product and continue aggressively hiring top talent.  Read more.

SoCal as Tech Hub? Yup, maybe.
Can Los Angeles become a tech capital?
As LA’s tech scene matures, old industries such as entertainment and aerospace are new again.  Read more.

Unicorns putting pressure on valuations and siphoning cash
Over the last decade, unicorns have completely transformed the VC landscape. They’re tilting the funding scales toward a concentrated set of companies. Read more.

Good Read: Innovation Isn’t About Ideas
It’s about solving problems and doing hard things first.  Read more.
 

Happy Holidays from the Alliance

As this is the last newsletter of 2018 we want to take a moment to express our gratitude for your support this year. We look forward to seeing you in 2019!
Copyright © 2018 Alliance for Southern California Innovation, All rights reserved.


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