LAMCII Leading Edge 2012

  • View
    213

  • Download
    0

Embed Size (px)

Text of 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

    b