Los Angeles, dubbed Silicon Beach is no exception to the rule. Great weather, relaxed culture, and a growing number of billion dollar companies are making LA one of the top 3 destinations for tech companies after New York and SFO.
The rise of Silicon Beach
In the last couple of years, tech giants like Google, Microsoft, Facebook and YouTube have opened offices on the west side of Los Angeles. In 2016 the city's startups received around $3Bn in funding, according to CB insights.
There are many advantages for tech firms to push their operation to LA. If you're thinking about it, here are few reasons why you should consider Silicon Beach:
1. Tech ecosystem
A couple of weeks ago we attended TechWeek's LA conference in DTLA, where leading LA companies, VC's and large enterprises gathered to discuss how they've implemented their innovation strategies and what they're doing to promote the region.
@WeAreFarmers, shared how bringing digital to the legacy enterprise through their innovation labs in Los Angeles. From IoT research, to improving policy holders experience when filing their claim, Farmers Insurance is serious about their digital bet.
TechWeek is just an example of LA's community of entrepreneurs, organizers and VC's that are working to grow Silicon Beach.
2. Talent pool
Although Los Angeles has fewer experienced engineers, those that are there tend to be more loyal, not least because there are fewer firms out to poach them.
Additionally, there's a steady stream of local students graduating with engineering degrees from local colleges like CalTech, UCLA and USC, says Marx, Los Angeles' chief technology officer.
Those students are flocking to local universities inspired by SoCal's own success stories, including Internet search engine Overture Services of Pasadena, which Yahoo Inc. bought for $1.3 billion; MySpace, which News Corp. bought for $650 million; YouTube channel producer Maker Studios of Culver City, which sold to Disney in May for up to $950 million; and virtual reality headset maker Oculus of Irvine, which agreed to a $2 billion sale to Facebook in March.
Although LA is not part of the CaliBaja binational ecosystem, it can certainly enjoy the benefits of proximity to the largest binational region in the world. Emerging startups can tap into Tijuana's tech talent to quickly bring to market their product or idea.
Tijuana has experienced a quiet revolution, from being a manufacturing destination with cheap labor, to becoming an innovation hub where companies like 3DRobotics, Plantronics, ThermoFisher Scientific and Samsung have started their own software development