Innovation Report

Q1 2012 Innovation Report Executive Summary  Southern California: A Nexus of Innovation

The CONNECT Innovation Report (CIR) is commissioned by CONNECT on a quarterly basis and provides an economic indicator of the strength and impact of the innovation economy. The CONNECT Innovation Report tracks the health of the San Diego innovation economy by comparing data year-on-year and quarter-to-quarter, providing a comparison across tech industry clusters to selected regions and monitoring availability of various types of capital. The data helps policymakers and trade organizations plan and advocate effectively for our innovation economy including availability of visas and workforce training for talent in high growth clusters, building an attractive environment for capital investment, allocation of grant funding, reform of the patent system, and zoning. The Report also highlights San Diego as a world leader in innovation with world-class research, leadership and management talent. The Report is initially focused on San Diego and includes full color charts and tables of data and research findings regarding:

• The number of new innovation start-ups in key regions across California;
• Technology start-up new job creation figures across California;
• Technology sector wages and employment in San Diego;
• Public policy brief focused on the innovation economy;
• Venture capital investment across the U.S., California and San Diego;
• Private placement investment in California and San Diego;
• Initial and follow-on public equity offerings in California and San Diego;
• Patent activity in San Diego and other regions in California;
• Federal research grants in San Diego and California; and,
• Private research organization employment and wages in San Diego, California and Boston Metro region.

“These cities boast some of the best job opportunities for tech workers… San Diego…    A good deal south of Silicon Valley…San Diego is home to a thriving tech industry. Between the University of California-San Diego, San Diego State University, and the University of San Diego, research plays a big role in the community… CONNECT’s chief operating officer, Camille Sobrian, says new data collected by the organization shows significant increases in the number of start-ups and the amount of venture capital funding in the second quarter.   City officials boast that the metro area has one of the highest concentrations of high-tech companies in the nation.”