Will Los Angeles replace Silicon Valley as the startup company capital?
Silicon Valley is a place that has long been considered the startup capital of American. It's known as a place where innovation is constant and the latest and most talked about companies are setting roots. Many of these corporations are tech based and include the likes of Apple, Google, Facebook, Yahoo!, Sony and Microsoft, just to name a few. However, some people are saying that start up companies are beginning to look toward real estate in Los Angeles for their headquarters.
Forbes reported in March that Los Angeles could be expected to outpace Silicon Valley as the tech startup capital. The source says there are 1400 startup and 1300 investors in LA, according to AngelList, a web community resource for startup companies. To really get on the map as a tech startup hub, Dave McClure recently said at The Lean LA Startup Circle panel that LA needs tech talent interested in entrepreneurship, as well as prominent investors to talk about the opportunities in the area, according to the news outlet.
"Fantastic weather, lots of space, entertainment and media experts, and lots of tech talent means that Los Angeles is fast becoming the city of choice to run a tech startup," said Forbes contributor and technology entrepreneur Tara Tiger Brown.
The increase in technology jobs in the area could attract more people to look for homes for sale in Los Angeles. In fact, some are now even referring to the area as Silicon Beach. However, The Los Angeles Times states industry insiders are hesitant for this name to stick as it forces a comparison between LA and the much more established Silicon Valley in the Bay Area. People in the industry are trying to change this, although they do realize it will take some time.
"Silicon Valley is always going to be Silicon Valley, but that doesn't mean LA can't be a really great tech market. It really is on the cusp," Erik Rannala, who moved to Los Angeles from the Bay Area in to start MuckerLab, said to the LA Times.
Forbes explains Silicon Beach is primarily west of Los Angeles in the beach towns of Santa Monica and Venice. People moving to the area who are interested in pursuing a startup company in the technology industry should consider relocating to these LA County cities and engaging with insiders by attending the local meetups and startup circles.