CONNECT Releases 2015 Innovation Report Revealing Strength and Growth of Local Innovation Economy

Sep 15, 2016

SAN DIEGO (September 15, 2016)

CONNECT, a premier innovation company accelerator in San Diego that creates and scales great companies in the technology and life sciences sectors, released today its 2015 Innovation Report revealing that the innovation economy in San Diego is continuing to grow and now accounts for almost $52 billion, or 24 percent, of San Diego’s GDP. CONNECT’s annual Innovation Report provides an overview of the strength and impact of the innovation economy in San Diego, and tracks the growth and strength of the innovation economy by comparing data year over year and across industry clusters. 

“For the past 11 years, CONNECT’s Innovation Report has acted as a roadmap for corporate leadership and policymakers to identify the region’s most pressing needs,” said Greg McKee, CEO of CONNECT. “It’s no secret that the innovation economy is critical to the region’s prosperity, but more importantly innovation is the cornerstone to ensuring that San Diego keeps its place on the global stage long into the future.”

Four hundred and five new innovation startups were established in San Diego in 2015, ranking San Diego County fourth in the state of California for new innovation startups created. The two most prevalent types of new innovation startups were software with 255 companies created and life sciences with 82. San Diego County ranked first in California for new innovation life sciences startups created in 2015, providing for the creation of 1,650 new jobs.

“This is further proof that San Diego’s innovation economy has matured to a point where it’s a vital part of our economic future,” Mayor Kevin L. Faulconer said. “It’s no wonder why more and more smart, creative people and businesses are choosing San Diego as their home.”

To view the full report, click here