Opinion: New startup companies key drivers of San Diego’s innovation economy

By Steve Hoey
Senior Program Manager
CONNECT

San Diego is home to a thriving technology innovation economy of industry clusters that include life sciences (pharma/biotech/medical devices), wireless communications, software, defense, cleantech and action and sport businesses.

These companies are part of an ecosystem that includes larger, established innovation companies such as Qualcomm, SAIC, Pfizer, Kyocera and Cubic Corp.; more than 80 research organizations such as the Salk Institute, Sanford-Burnham, SPAWAR SSC Pacific, UC San Diego and SDSU; and hundreds of small, startup and early stage companies that drive research, development and commercialization of new technologies.

These early stage companies are a critical component at the heart of innovation economies like San Diego’s because they are key engines that drive growth in terms of new technologies and their novel applications to the problems faced by society, industry and consumers. In addition, these early stage innovation companies are a source of new jobs and attract money and talent to our region.

In San Diego, a new tech startup is created almost every day. During 2010, almost 300 new technology and life sciences companies were started in San Diego County creating almost 1,000 new jobs. New data from the quarterly CONNECT Innovation Report, which tracks the health of the San Diego innovation economy, shows 84 tech startups were formed in the fourth quarter of 2010 and created almost 200 new jobs. These startups included 29 communications and computer electronics companies, 20 software companies, 15 life sciences companies, 11 recreational goods manufacturing companies, six defense and transportation companies and three environmental technology (cleantech) companies.

CONNECT, a nonprofit organization dedicated to creating and sustaining the growth of innovative technology and life science businesses in San Diego since 1985, has assisted in the formation and development of over 2,000 companies and is widely regarded as the world’s most successful regional program linking inventors and entrepreneurs with the resources they need for success. CONNECT focuses on research institution support, business creation and development, entrepreneurial learning, access to capital, public policy advocacy, awards, recognition and networking.

Nearly 40 countries and regions have adopted the CONNECT model, including the U.K, Sweden, Norway, Denmark, Australia, and China, and most recently New York City. You can read more about the CONNECT Innovation Report at www.connect.org/programs/connect-track/.

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Posted by Staff on Mar 9, 2011. Filed under Opinion. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.