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Talent and Universities

July 2, 2013

San Diego Venture Group Cool CompaniesIn 2012, the San Diego region raked in upwards of $1.1 billion in venture funding, beating Texas, Colorado, the DC Metroplex and other locales. At the San Diego Venture Group’s Annual Venture Summit on July 12, participants will be able to interact with more than 120 VCs and 30 “cool” companies.

The Venture Summit is one of the most popular events produced by SDVG and connects numerous top entrepreneurs from the region with many investors from Southern California, the Bay Area and other areas to showcase how the innovation climate thrives in San Diego. The Summit will feature a keynote by Gwynne Shotwell, president and COO of SpaceX, as well as other San Diego innovators including Chris Anderson (3D Robotics), Dr. James Mault (Qualcomm Life) and Larry Stambaugh (San Diego Zoo Bioinspiration Centre.)

For the second year in a row, the Venture Summit will include 30 San Diego “Cool Companies.” From social media to software and algae biofuels, companies making this year’s roster include Roambi, Sapphire Energy, and Embarke. They are indicative of the dynamic industries that fuel San Diego’s innovation economy.

Venture Summit is not the only venture-related activity that’s happening in San Diego on July 12. On that day, companies from around the globe will hand in WBT logotheir submissions to present at WBT Innovation Marketplace. Now in its 11th year, WBT Innovation Marketplace brings together the largest collection of vetted and mentored companies and technologies emanating from top universities, labs, research institutions, and the private sector. More than 10 years of research shows that one in three WBT presenters goes on to license, secure venture funding, or sell their IP outright. Last year, the show moved from Arlington, Texas to San Diego, so it could benefit from the region’s world-class talent pool and strong venture capital community.

Companies are invited to apply to present at the Oct. 22 showcase.

With all of the venture activity going on throughout the region, it’s no wonder San Diego has been identified as a high-tech challenger to Silicon Valley.


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May 30, 2013

San Diego Regional EDC 48th Annual Dinner

America leads the world in innovation says Jim Clifton, author of The Coming Jobs War and Chairman and CEO of Gallup, but innovation alone is not enough to fuel job growth. Clifton was in town to give the keynote speech at San Diego Regional EDC’s annual dinner. More than 800 people listened in almost total silence (no mean feat for a group that size) as Clifton talked about the difference between innovation and entrepreneurship. According to Clifton, we know how to test for intellectual talent and scout intellectual talent but we have no mechanism to determine who can best take those ideas to the marketplace. And without a customer, the best ideas do nothing for job creation.

Clifton picked up on the dinner’s recurring theme of collaboration as reflected in the comments of EDC Chairman Stath Karras and EDC President and CEO Mark Cafferty. He referred to his concept of “tribal leaders” in a community, those who constantly question and suggest new approaches to issues. “When leaders get their strength together, there is no limit to what you can do,” Clifton said, recognizing that most of the region’s leaders were in the room.

Clifton acknowledged one of San Diego’s best examples of a tribal leader – Malin Burnham – who was instrumental in bringing Clifton’s ideas to the business community and in bringing Clifton himself to San Diego.

Clifton made it clear that no one should be looking to Washington for solutions to America’s problems. “We have to win the world back one great city at a time,” he said.

EDC’s annual dinner also honored former EDC Chairman Bill Geppert with the Herb Klein Civic Leadership Award. Geppert was humble and gracious in his remarks, mentioning many beloved San Diegans who came before him as great civic leaders.

Many people took to twitter to discuss the event:

 

 

May 16, 2013

At EDC, we're always looking for new ways to tell San Diego's unique story. With the release of the Brookings Metropolitan Export Initiative was a good time to try it out. Using Storify, we integrated pictures, tweets, quotes and other forms of media from the event. Here's what we came up with:

 

Help us keep the conversation about the critical role exports can play in the region's global competitiveness strategy 

May 13, 2013

“It’s clear to us we are a global city,” said City of San Diego Mayor Bob Filner as he kicked off a press conference and town hall on May 13. Its focus was the need for the San Diego region to increase export activity in order to grow jobs and economic prosperity. It may be clear to San Diego, but it might not be clear to the rest of the world. He's out to change that perception and at the same time create more of the middle class jobs that were once the backbone of the San Diego economy. "We have not fulfilled our potential," he said, adding that we have the political will to change.

Each speaker commented on the findings of a market assessment that was the catalyst for the gathering. The market assessment is the first key step in the Brookings Metropolitan Export Initiative, a program focused on helping eight regions create collaborations from the ground up to design and implement customized metropolitan export plans.

City of San Diego City Councilman Mark Kersey pointed out that San Diego has lots of advantages other areas don’t have, such as our technology sectors.

Michael Masserman, from the U.S. International Trade Administration came to offer his agency’s support which includes opening markets for exports and entering into trade agreements to facilitate exports. “Jobs in export-oriented companies pay 15 – 20 percent higher wages that their non-exporting counterparts,” said Masserman.

Elliott Hirshman, president of San Diego State University, discussed the importance of international engagement in educating the workforce of the future citing a substantial increase in international programs at San Diego State.

Peter Cowhey, dean of the School of International Relations and Pacific Studies at UC San Diego, presented highlights from the market assessment. Cowhey, along with two of his graduate students, was responsible for conducting the survey and collecting the data for the market assessment. “San Diego is punching well below our weight,” said Cowhey, pointing out that although San Diego is the country’s 17th largest metropolitan economy, we rank only 55th when examining exports as a share of our regional economic output.

The market assessment revealed that San Diego’s exporters see a need for infrastructure development in three major areas: port, airport and cyber infrastructure.

Bob Nelson, vice chair of the board of port commissioners, agreed that if the region is going to see growth in exports then we need to see growth in infrastructure. The Port has in the works infrastructure improvements worth close to $100 million.

Robert Gleason, board chair of the San Diego County Regional Airport Authority, said that San Diego International Airport has a critical role to play in increasing export activity. That includes additional international non-stop service and increasing cargo capacity. An added benefit of more international visitors (which are also considered exports) is that they typically spend almost double what a domestic visitor spends on a trip.

Steven Weathers, president and CEO of World Trade Center San Diego, an organization that provides direct services to exporting companies, said that many people ask him, “What’s the big goal?” His answer? “Job creation – sustainable, diverse, job creation.”

photo left to right: Mayor Bob Filner, City Councilman Mark Kersey, Michael Masserman, Peter Cowhey, Bob Nelson, Robert Gleason, Elliot Hirshman, Steven Weathers

Access the full report: San Diego Metropolitan Export Initiative Market Assessment

Media coverage 

Region needs to boost exporting, report saysU-T San Diego
Local leaders push boosting trade, The Daily Transcript  
San Diego could be exporting more, Brookings Institution reports, KPBS

 

 
 

                                  

April 22, 2013

 

The cornerstone of a successful economic development program is having strong data to ensure that we are making informed decisions about growing the economy. At EDC, we have been fortunate enough to partner with and benefit from the countless area organizations, companies and universities that have provided substantial economic data. Although we don’t see these partnerships slowing down, with the launch of our new research bureau, we will be putting out a quarterly snapshot of our own. 
 
We’ve heard countless times that San Diego has a strong VC cluster, a healthy tourism industry, and a world-class talent pool, but as we strive to make our region globally competitive, we want to know how we stack up with other metro areas. Our Q1 snapshot is our data-driven approach to answering that question.
 
The quarterly snapshot will report on key economic metrics that are important to understanding the regional economy and San Diego's standing relative to other major metropolitan areas in the U.S. Please take a look, share with friend and colleagues, and let us know what you think. 
 
http://www.sandiegobusiness.org/sites/default/files/EDC-SnapShot-2013-0415.pdf

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April 10, 2013

What Makes San Diego an Ideal Home for Your Business?

Moderator Randy Frisch addresses a packed room at the Forum

Six private sector executives told 300 forum participants about their experiences doing business in San Diego. The panel was part of the 2013 Regional Economic Development Forum sponsored by San Diego Gas & Electric, Wells Fargo and the Morgan Family Foundation. San Diego’s regional forum is the first of 15 forums gathering input that will culminate in the California Economic Summit in Los Angeles in November 2013.  Broad questions touching on successes, challenges and the ubiquitous Why San Diego? brought mostly positives from the panelists. Bottom line: we need more of what we’ve got – more talent, more capital, more support for entrepreneurship. The only thing we need less of is regulation – actually the panelists’ companies are willing to comply with regulations – but they uniformly called for better coordination among regulators.

 

Craig Bartels, vice president of technology for Hydranautics, described how his company has to keep changing and reinventing, citing that 30 – 40 percent of their sales are from products introduced within the last three years. San Diego has the talent and the know-how to innovate so Hydranautics can stay on the leading edge of their industry, which is providing technology for reverse osmosis water treatment.

Joseph Mahler is CFO of Synthetic Genomics, a company using genomics to create sustainability for food and fuel. The company is currently focused on algae biofuels. Mahler calls it “intellectual capital,” and says San Diego has what it takes to anchor a core in genomics and that we should focus on leveraging the talent here to build capacity in the industry.

Panelist from a diverse range of businesses discuss why they chose San Diego

Brick Nelson is the corporate lead executive for Northrop Grumman Corporation in San Diego.  As someone who was transferred to San Diego, with peers around the country in similar positions, he said that San Diego has no equal in the country in terms of partnerships and the spirit of collaboration. Nelson reiterated the need for “smart, young folks,” and mentioned STEM education as very important in an industry where many employees will soon be aging out of the workforce.

Matt Raine, executive vice president of business development at Evolution Hospitality, brought the perspective of the tourism industry to the panel. His company provides hotel management services to a range of hotel properties, including 10 in San Diego. Raine described the three pillars of San Diego’s tourism industry as groups, leisure and government business. However, one area where San Diego trails other major cities is the number of individual business travelers. He stressed the importance of marketing the destination.

Don Rockwell is the CEO of Aqua Lung International, a company that develops, manufactures and distributes sports and defense equipment. Rockwell described San Diego as a hub for dive companies – even the industry association is located in San Diego. When asked what San Diego can do for his business, he mentioned water quality as a concern.

Tom Tullie, president and CEO of ecoATM, talked candidly about the challenges of raising capital from local sources. While he thinks San Diego has a good angel community, entrepreneurs must still look outside San Diego to raise significant venture money. His company, which provides automated, self-serve kiosks for recycling electronics, has benefited from the support network provided by CommNexus and their incubator EvoNexus, and CONNECT.

Check out the complete briefing book from the forum that gives an overview of regional priorities and continue to join the conversation on twitter #Caeconomy

April 8, 2013

As an inveterate reader of the New York Times (online 24/6 and thick, wonderful print copy on Sunday) I was thrilled when I saw the Travel section was going to highlight San Diego in one of their “36 Hours in …” profiles.

Imagine my dismay when from the very first sentence I felt like the writer was describing a bad cartoon, poorly illustrated and lacking a solid punch line. Why should this matter to an economic development professional? Because not only is San Diego's convention and visitor industry the third largest industry in San Diego, it is also one of the ways we attract talent.  As one of the top 10 visitor and meeting destinations in the U.S., with more than 30 million visitors a year, it is no surprise that many of San Diego's knowledge workers first visited the region as a tourist or convention delegate.

So you can imagine that sentences that start with “If San Diego has an identity at all…” and a comparison to the movie Pleasantville (where two teens are sucked into their television into a black and white 1950's world which they slowly transform into color) would set a local’s teeth on edge.

I’d love to hear from the biotech entrepreneurs and the wireless communications wizards if that’s how they saw San Diego when They Came Here. And by the way, Torrey Pines State Natural Reserve, which is mentioned in the article, is across the street from some of the most advanced medical research facilities in the world. Believe me, the researchers love running the beach and the trails at lunch – year round.

Set aside for the moment whether the characterization is true or not (it’s not) and think about whether this kind of description would make you want to visit any location. Even Sioux Falls, South Dakota would want to be described in a more flattering way.

San Diego’s tech community has a reputation as open and welcoming and that’s one reason we’re successful at attracting the best and the brightest to work in our diverse technology clusters that range from defense to sports innovation, life sciences and clean tech.

Maybe it’s part of the California culture but it’s more than just “easy, breezy Southern California casualness.”

March 20, 2013

San Diego Regional EDC joined the City of San Diego and other organizations recently to officially introduce the new CONNECT2Careers program (formerly known as Hire-A-Youth). The City of San Diego made a $200,000 commitment last year so that the San Diego Workforce Partnership could rebuild the summer jobs program, which was threatened due to lack of funding. The redesigned program is focused on providing meaningful work experiences through paid summer internships to prepare San Diego’s young adults for the jobs of the future, while also addressing San Diego’s jobs skills gap.

One of the innovations in the new program is targeting specific industry clusters that have a significant need for young talent including:

Biotechnology and Pharmaceuticals, Cleantech, Communication and Information Technologies, Tourism, Hotel/Motel, Defense, Maritime, Business, Government and Healthcare.

All of the organizations involved stressed the need for business community participation to make the program a success. San Diego City Council President Pro Tem Sherri Lightner called on other council members to reach out to businesses in their respective districts to encourage them to participate in the program either through donations to support the program or by hiring at least one youth.

“CONNECT2Careers provides a way for businesses to give back while helping to train our emerging workforce, which is critical to growing our local economy,” Lightner said. “You simply can’t compete in the global economy if you don’t have a world-class workforce.”

The program, which is administered by the San Diego Workforce Partnership, will connect employers with pre-screened and motivated young adults ages 16 – 21 who have a strong career interest in one of the targeted industries. San Diego Workforce Partnership will provide pre-internship training and ongoing coordination and support throughout the selection, placement and work experience.

“As a region, our number one priority is job creation. By providing our emerging workforce with this opportunity, not only are we giving them the chance to hone their professional skills, but also feeding a talent pipeline that ensures San Diego remains competitive in the global economy,” said San Diego Regional EDC President and CEO Mark Cafferty. Cafferty has been involved in workforce issues for most of his career and was previously the President and CEO of the San Diego Workforce Partnership.

San Diego Regional EDC has already agreed to host an intern for summer 2013.

 

 

 

March 12, 2013

175 projects. 6, 215 jobs. What a year 2012 was. Check out our annual report, detailing some some of the highlights and programs from last year.

To all of our investors, partners and the rest of the San Diego business community, thank you for helping us carry out EDC’s mission is to maximize the region’s economic prosperity and global competitiveness. 

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January 11, 2013

A report released today detailed the impact of Qualcomm Incorporated—San Diego County’s largest private employer—on the regional economy.  Sponsored by San Diego Workforce Partnership with guidance and insight from San Diego Regional Economic Development Corporation,  “The Economic Impact of Qualcomm: Driving San Diego’s Technology Growth,” provides insights and analysis into the economic contributions of Qualcomm as well as the broader telecommunications and information technology (T&IT) industries in San Diego. The report also includes a workforce needs assessment.
 
The mobile giant’s presence in the regional economy adds $4.53 billion in economic activity annually, equal to about three percent of the county’s Gross Regional Product (GRP) in 2010. Every dollar generated directly by the company equates to nearly $2 of economic activity in the region, making the yearly economic impact of Qualcomm equivalent to one and half 2012 London Olympic Games.  
Take a look at the complete study and executive summary.