Download - LAMCII Leading Edge 2012
-
7/29/2019 LAMCII Leading Edge 2012
1/24
LOS ANGELES:
The Leading EdgeDecember 2012 Update
-
7/29/2019 LAMCII Leading Edge 2012
2/24
NARRATIVE
CAPITAL
POLICY
NETWORK
EDUCATION
IntroductIon2
40 next StepS
10
16
22
28
34
-
7/29/2019 LAMCII Leading Edge 2012
3/24
The true story oLos Angeles hasyet to be told.
-
7/29/2019 LAMCII Leading Edge 2012
4/24
5
Even the Internet was born in LA when Proessor Leonard Kleinrock activated
the rst node and sent the rst message in the all o 1969 on the UCLA campus.
Today, Los Angeles ranks as the third best city in the world or startups. 1 Los
Angeles-based incubators are ostering the next generation o entrepreneurs,
with access to vast resources rom the local aerospace, biomedical, entertain-
ment, design, interactive, and clean-tech industries, all backed by a passionate
and growing community o angel investors and high net-worth individuals.
Robotic Exploration o Mars
Space Shuttle
Plastic Frisbees
Stealth Bombers
Electric Guitars
CD Algorithms
Skateboards
Aeron Chairs
Hot Wheels
Domain Names
Cobb Salads
Strapless Bras
Here are some LA frsts:
Things happenin Los Angeles.
1 Startup Genome November 2012 Startup Compass
* Mars Rover courtesy NASA/JPL-Caltech.
-
7/29/2019 LAMCII Leading Edge 2012
5/24
Why is LA not
known or theentrepreneurialinnovation thatis its lieblood?
One year ago, twenty-ve o us partnered with Los
Angeles Mayor Antonio Villaraigosa and his sta to
answer this question and identiy ways that we could
help Los Angeles grow.
We wanted to understand:
-
7/29/2019 LAMCII Leading Edge 2012
6/24
t vl a
aiabl la
hl LA ak h
ighl la as a
ivai
wih a iq a
ivs vi.
The Councils Goal:
Composed o a diverse independent group o business, academic, and
proessional leaders rom across LA who are passionately committed to
the growth o our city, we embarked on our journey in March o 2012.
Each member committed to not only help build the plan but to take actionand create real impact immediately. We split into a number o working
groups that each addressed a dierent aspect o our challenge.
Were excited to share the output o our eorts in the pages that ollow.
SINCE MARCH 2012, WEVE:
Expended
2000+hours o research
Spent
700+man-hours in working sessions
Reviewed
4000+pages o reports, studies & articles
Consumed
32+gallons o coee & tea
-
7/29/2019 LAMCII Leading Edge 2012
7/24
NARRATIVELAs InnovAtIon IdentIty & how It Is communIcAted
-
7/29/2019 LAMCII Leading Edge 2012
8/24
131313
WHAT IS A SUCCESSUL NARRATIVE?
A successul narrative is more than a tagline or memorable jingle
it is a compelling story that rings true to all that hear it.
A successul narrative is simple.
A successul narrative does not advertise to an audience
it engages and creates true advocates.
A successul narrative builds irresistible connections and prompts
people to act.
The tagline comes later.
NARRATIVE
o gal is a a
mllig a al sy
LA ha fs i as h g-
la bsiss ivai
a amally hags
ls i i,
sig his iy is i h
h lis must-consider
lais al, ivss,
bsisss, a s.
-
7/29/2019 LAMCII Leading Edge 2012
9/24
15
While LA does have some real challenges that need to be addressed,
such as taxation, bureaucracy, and transportation, it has as many issues
based on perceptions that are no longer or have never been true.
2 Travel & Leisure magazine,American Style Magazine, MarketWatch
3LA Times
4 Brookings Institution
5 LAEDC
6 Citygroups Hot Spots Report
7 US Census BureauAmerican Community Survey
34thout o 34 or
Saety
35thout o 35 or
Public Transportation
34thout o 35 or
Intelligent People
61stBest US City or
Business
12thout o 25 Big Cities
or the Arts
#2Saest Big City
in the USA3
#1City or Public Transit
Access in the USA4
#1County in the
USA or PhDs5
#6Best US City or
Business
6
#2in the Number
o Artists7
Perceptions2
Truths
LA a ala a
i a la
aazi iai a
l-ai ia a
l aii.
LA is wh ams, aiviy, a
bsiss s hag h wl.
this aaiv is l hgh mlil
visliiias, mia, lbiis,mmas, bsiss las,
vi, a yoursall shaig h
sy a vy iy.
-
7/29/2019 LAMCII Leading Edge 2012
10/24
CAPITALthe roLe o InAnce In LA
-
7/29/2019 LAMCII Leading Edge 2012
11/24
191919
CAPITAL
o gal is imv ass
aial LAs gwh
mmiy s ha i is m
i li wih h iis
ha ly is.
8 CNN Money 2007
9 Startup Genome November 2012 Startup Compass
While LAs shining successes prove what is possible, the data clearly show
that LA is underserved when it comes to capital availability. There are many
theories as to why, but the bottom line is that there is real opportunity in our
backyard or those who are aware o it. And while our new growing narrative
will help, there are things that we can do to help accelerate LAs growth.
h a j a a a x ai i
caial i LA:
LA has a large quotient o high net-worth individuals. Excluding real
estate, 23% o Caliornias millionaire households are in LA County8.
LAs large city-employee pension unds do not substantially invest in
LA-based venture-capital rms. There may be as much as $100-200
million available or investment rom this alone.
LAs existing incubators and startups are an excellent value or new
tier-1 venture capital because9: LA startups go ater large, totally addressable markets
63% o LA entrepreneurs have previous experience in the market
their startup is targeting
The user base o LA startups has 40% more paying customers
than that o their Silicon Valley counterparts
-
7/29/2019 LAMCII Leading Edge 2012
12/24
HERES WHAT WE ARE DOING:
LA Lai e Aa is an annual showcase o the worlds most
innovative ideas. Entrants are accepted online rom anywhere around theglobe. Multiple rounds o judging narrow the entrants down to a shortlist o
nalists that are then evaluated by a panel o credible luminaries to determine
the nal awards.
The goal o the Leading Edge Awards is to highlight our narrative by
attracting brilliant entrepreneurs and edgling companies to LA and oering
them a home rom which to launch their success.
LAs Leading Edge Awards will begin accepting entrants in the spring o 2013.
More inormation will be available shortly at http://edge.la.
1. Council members are reaching out to the greater
VC community and local high net-worth individuals
to share the narrative about the creativity and
opportunity that exist in LA.
2. With the assistance o Mayor Villaraigosa, the
council is educating LAs pension unds about the
opportunity within the city and encouraging them to
invest in our local growth and innovation sector.3. The council launched LAs Leading Edge Awards to
promote and und innovative companies that make
LA their home.
-
7/29/2019 LAMCII Leading Edge 2012
13/24
POLICYthe reLAtIonshIp between busInessAnd government In LA
-
7/29/2019 LAMCII Leading Edge 2012
14/24
252525
POLICY
o gal is hl lal
gvm lay a m
aiv a imal l i
sig a gwig LAs
ivai sysm.
The mayor and his ofce have been engaged rom the very beginning,
and together were working to identiy the opportunities to make local
government work or innovators and growth businesses.
Were aligning the interests o growth and innovation with business and civic
leaders. Were utilizing city resources to embrace and enhance LAs unique
geographies in common-sense ways that will make it an even more exciting
and riendly place rom which to change the world.
HERES WHAT WE ARE DOING:
1. Extended a three-year extension or the exemption
rom gross-receipt taxes or new businesses.
2. Proposed ways in which to leverage earmarked
Federal-grant unds or job creation and retention
and utilize them to drive new-economy job growth.
3. Reached out to international trade partners in South
America and China, including a trade mission with
Mayor Villaraigosa to South America.
4. Developed a strategy to connect the growth o new-
economy jobs in West Los Angeles to South LA andDowntown by ocusing on the Expo Light Rail Line.
-
7/29/2019 LAMCII Leading Edge 2012
15/24
27
20
The city has experienced a substantial growth
in jobs and start-up companies throughout,
but especially in West Los Angeles. With the
development o the Expo Line, there is a unique
opportunity to connect the city rom East to
West and allow or innovation hubs to develop
all along the corridor. The Expo Line connects
talent, businesses and two o the citys premier
educational institutions. This provides the
opportunity to not only easily move people
but to move ideas, jobs, and companies.
There are several city-owned parcels that can
be leveraged in a public-private partnership
to create Innovation Hubs along this transit
corridor. These Hubs will provide world-class
physical space or startups and new-economy
businesses. We are working with USC and
UCLA to become cornerstone tenants,
co-locating their incubation eorts at one
o these locations. The goal is to create
next-generation working environments: tech-
riendly amenities, quality community space,
80,200 q. .w dii ta ya
Los Angeles
220,180 q. .J ta ya
Los Angeles
8,700 q. .ta ya
Venice
4,600 q. .paik mia
Venice
40,000 q. .Aial sl
West LA
109,200 q. .w LA miial c
West LA
14,000 q. .w e
West LA
20,600 q. .w villa
Westwood
1,300 q. .o ta
West LA
153,000 q. .w dii ya
West LA
4,881 q. .i sai #43
Palms
84,500 q. .36 s. ya
Los Angeles
ex Li
hands-on workshops, ood, cycling resources, art
space, and maybe even a home or LAMCIIs eorts.
Innovation will happen when companies and
people o all types are connected together
in a connected community, with easy
public-transportation access rom
downtown to the beach.
We call it the (t)expo line; we consider
it transformative or LA.
80,200 q. .w dii ta ya
Los Angeles
220,180 q. .J ta ya
Los Angeles
8,700 q. .ta ya
Venice
4,600 q. .paik mia
Venice
40,000 q. .Aial sl
West LA
109,200 q. .w LA miial c
West LA
14,000 q. .w e
West LA
20,600 q. .w villa
Westwood
1,300 q. .o ta
West LA
153,000 q. .w dii ya
West LA
4,881 q. .i sai #43
Palms
84,500 q. .36 s. ya
Los Angeles
ex Li
-
7/29/2019 LAMCII Leading Edge 2012
16/24
NETWORKthe LocAL InnovAtIon LAndscApe AndIts cuLture
-
7/29/2019 LAMCII Leading Edge 2012
17/24
313131
NETWORK
o gal is hl
s f LAs
ss a iviy
ls i s
h aal gwh is
ivai sysm.
Our city is diverse and distributed, and thats part o what makes
it awesome. Every neighborhood in LA has great things happening
organically within its own sub-community. Los Angeles has many meet-
ups, associations, accelerators, incubators, mentorships, and networking
programs. The challenge is that they are spread out and hard to nd.
LAMCIIs intent is to provide connective tissue or the various groups
that are already doing a antastic job o moving LAs innovation
agenda orward. Embracing LAs unique geography and digital
diversity, we envision resources that make it easy or entrepreneurs
to identiy and connect with our citys bountiul opportunities.
-
7/29/2019 LAMCII Leading Edge 2012
18/24
Makig i asy navigate LA.
HERES WHAT WE ARE DOING:
Launching Edge.LA, which will house a comprehensive directory
making it easy or anyone to nd the various valuable resources in LAs
innovation ecosystem.
Working with brokers and developers to create standards and a LEED-
style ratings system or tech-riendly commercial real estate.
Creating the Edge.LA Ambassador Program, with 25 mayoral
appointments charged with serving as conduits between the city and
the various business and geographical sectors o LA.
-
7/29/2019 LAMCII Leading Edge 2012
19/24
EDUCATIONthe IntersectIon o busIness And LAseducAtIonAL InstItutIons
-
7/29/2019 LAMCII Leading Edge 2012
20/24
373737
EDUCATION
o gal is lvag
laishis wih
ivsiis ha will
gw h ial
sysm, imv ass
al, a a b
iis ss.
We are sitting on a gold mine o human capital. LA County produces more
graduates and has more residents holding PhDs than any other in America.10
Our universities are world-renowned, home to Nobel laureates, MacArthur
ellows, and members o the National Academies. And our architecture and
design schools have been changing the way the world lives, drives, and
dresses or decades.
What LA lacks is a strong connection between our academic and business
communities. Since 2008, 54% o UCLAs engineering graduates have chosen
to relocate. This creates the perception that there are not opportunities
in LA or the best and the brightest, and we know thats not the case. We
must make sure that our innovation industry has a direct connection to our
universities and colleges, creating a uid exchange o learning and labor.
HERES WHAT WE ARE DOING:
1. Growing innovation hubs at our local universities.
Startup UCLA was ounded in 2012 in partnership
with PwC.
2. LAMCII will track and publish an annual talent-
retention index with year-over-year comparisons to
gauge i were heading in the right direction.
3. The Edge.LA Fellowship Program is a centralized
hub that will eed qualied LA graduates into exciting
positions at growth companies.
10 LAEDC
-
7/29/2019 LAMCII Leading Edge 2012
21/24
There is an imperative to strengthen the connective tissue between the
nearly 1.1 million college students and businesses in the greater LA area*. We
need this or a number o signicant reasons. First, as LAs entrepreneurial
ecosystem grows, so does its need or talent. In a survey o the 25 council
members and the companies that they represent, we counted over 500 (!)open positions.
Second, the relationships between the students and the companies creates a
spiderweb o connections that transcend LAs sprawling geography. We can
imagine no single greater impact to the citys innovation network than this
program. Businesses benet rom the imagination and talent o our students.
Students benet rom the opportunity to get real-world, hands-on experience
to enhance their value in the job market. The city benets rom lielong bonds
that orm between all involved.
For these reasons (and many others) we created the Edge.LA Fellowship
Program. When in ull swing, the Fellowship is the one-stop shop that
connects the opportunities that exist in local businesses with students who
are looking or meaningul experiences. Companies post opportunities
in a single location rather than having to navigate each o the universities
independently. Students get access to a wider array o experiences in a
single location.
The structure o the program makes this easy or all involved. Digital
technology acilitates simple submitting, applying, and initial review.
Block-scheduled virtual interviews expedite mutual triangulation. Uniorm
procedures build a uid process or the nal matchmaking. Supportive
oversight ensures high quality experience or all involved.
Launching in 2013, the Edge.LA Fellowship Program creates an
unprecedented city-wide conduit or students and businesses and paves the
way or the entrepreneurs o tomorrow.
* LA is the 2nd largest college town in America. The AtlanticCities.com 2012
-
7/29/2019 LAMCII Leading Edge 2012
22/24
WHATS NEXTLAmcII a ali a l i i a. w aiz
il, xai a, iif k aa
i, llaa ial iiiai, a a
i i. I 2013, ill . w
l lik a il.
i a , ak a ia aai bl
caii i a a ik a alk a LA. ti i l
a a ill a li i. bi
i i ai, i i i a i, a li i a
la, i ai. y i LA ill l l iz a a i.
I a if iiiai ia a lik i
a l, a li a i@laii.. o
aili a ia i il i a a.
-
7/29/2019 LAMCII Leading Edge 2012
23/24
cil Mmbs(In Alphabetical Order)
Frank Addante
Ravi Ahuja
Mitra Best
Paul Bricault
Brendon CassidyRandy Churchill
Martha Corbett
Gil Elbaz
Brian Garrett
Todd Gitlin
Zorik Gordon
David Hernand
Krisztina Z Holly
Scott Lahman
Brett Markinson
Howard Marks
Jim McDermott
Leslie Michelson
Sean Moriarty
Jim OMahony
Al OsborneScott Painter
Jimmy Pitaro
Kamran Pourzanjani
Robin Richards
Je Stibel
Bill Woodward
Zack Zalon
Mayor Antonio Villaraigosa
Deputy Mayor Matt Karatz
Book Design
Wilshire Axon:
Alex LouieShane Snoke
Juraj Vojnik
Mary Evdjukian
Charles Kim Jr.
Leo Amos
Maidel Margulies
Printing
JNK Services Inc.
Thank You
Amy Amsterdam, Wilshire Axon
Cheryl Forbes, PwC
Nick Davis, PwC
Chris Pearson, LA Mayors Ofce
-
7/29/2019 LAMCII Leading Edge 2012
24/24
Contact: [email protected]
2012 LAMCII