$811M Funding Record for LA Tech in the 3rd Quarter of 2014

Los Angeles digital tech startups raised more than they ever have, totaling $811 million in funding.

From BuiltInLA:

“The good news isn’t stopping for Los Angeles tech. In the third quarter of 2014, Los Angeles digital tech startups raised more than they ever have, totaling $811 million in funding. They also exited to quite a nice tune, selling off for a total of $2.417 billion. All in all, 51 companies received funding and six exited via acquisitions.

Funding: $811 million
Exits: $2.417 billion

That increased funding is no doubt because outsiders are seeing the potential of LA startups more and more. Just this week PayPal co-founder Peter Thiel called LA tech the most “underestimated” region in the country. Thiel said to the LA Times: “I’d definitely be short New York and long L.A.”

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UCLA Launches New Company to Commercialize Patents and Inventions

UCLA announced the Board of Directors for a new company: Westwood Technology Transfer (WTT), a not-for-profit focused on better protecting and optimizing the discoveries and inventions developed through campus research that attracts about $1 billion in funding each year.

Unprecedented within the University of California, establishing the 501(c)(3) company extends the efforts of UCLA’s Office of Intellectual Property and Industry Sponsored Research (OIP-ISR), which manages a portfolio of nearly 2,000 inventions, pursues patents and licensing agreements, helps faculty obtain research funding and materials through external collaborations, and assists UCLA faculty startups. After a rigorous selection process that considered more than 200 candidates, UCLA Chancellor Gene D. Block selected a Board composed of experienced executives from a range of industries, including biopharmaceuticals, engineering and technology; finance, private equity, and venture capital, as well as distinguished UCLA faculty.

Read Full Press Release [web]

University of California Publishes Annual Report: UCLA #1 in Startups Launched

In FY 2013, University of California (UC) researchers submitted 1,727 new inventions – an average of nearly 5 a day, 365 days a year – bringing UC’s total portfolio to more than 11,500 inventions; entered into 427 new IP licensing agreements providing industry access to UC inventions; and launched 71 new startup companies.

UCLA ranked highest among the UC campuses in number of startups launched, and other technology transfer metrics featured in the FY 13 report.

VIEW FULL REPORT [PDF]

8 LA Co-working Spaces You Need to Check Out

Knowing where the best co-working spaces are is key to anyone looking for information, resources and colleagues to grow their business.

From BuiltinLA:

“The core of any entrepreneurial tech ecosystem is filled with co-working spaces. This is where tech events are hosted, where entrepreneurs meet and where young companies spend their early days grinding away. These spaces represent the communal life of startup culture. Knowing where the best coworking spaces are is key to anyone looking for information, resources and colleagues to grow their business. Here are some of Los Angeles’ must know co-working spaces…”

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How much is Los Angeles Tech Booming? Funding up 163% and Deals Up 180%

$4.71B has been invested across 1081 tech deals in the last five years into LA’s tech scene.

From CB Insights:

“Los Angeles’ tech industry has grown into its own over the past five years. Total funding to Los Angeles tech companies has nearly tripled, early stage funding has grown, and the mobile & telecom sector has quadrupled in funding share.

This analysis provides an in-depth look at the financing and exit landscape to tech companies in the Los Angeles region as well as the investors and companies fueling the LA tech startup ecosystem. If interested in more LA data, you may also want the previously issued Los Angeles Venture Capital Almanac and our research brief on LA’s largest VC-backed exits…”

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UCLA School of Law Establishes Student Entrepreneurship Competition

The competition, which includes a $100,000 prize, is the first of its kind sponsored by a top American law school.

From UCLA:

UCLA School of Law has established the Lowell Milken Institute-Sandler Prize for New Entrepreneurs (“LMI-Sandler Prize”), an entrepreneurship competition designed to recognize student innovation and leadership and support the real-world launch of promising new business ventures. The competition, which includes a $100,000 prize, is the first of its kind sponsored by a top American law school. It was established through gifts totaling more than $500,000 from the Lowell Milken Family Foundation and the Richard and Ellen Sandler Family Foundation.

“The LMI-Sandler Prize is a completely new way to reward law student achievement and promote the entrepreneurial ambitions of UCLA Law students and recent graduates,” UCLA School of Law Dean Rachel F. Moran said. “The competition will provide students with an opportunity to put the principles of entrepreneurship into practice and to use their law school education as a path to careers marked by fresh perspectives and bold initiatives…”

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#SBF Reveals What’s Next On The L.A. Tech Horizon

Silicon Beach Fest was a rousing four-day phenomenon.

From Neon Tommy:

“With 300-plus speakers and more than 2,000 industry professionals in attendance, Silicon Beach Fest welcomed the brightest minds in the L.A. tech scene to discuss new ideas, introduce disruptive technologies and share a glimpse into our collective, connected future. The third-annual, four-day event took place throughout various locations in Santa Monica, attracting not only developers and techies, but Hollywood executives, startup CEOs, city officials and everyone in between.

At a panel on digital video content, YouTube celebrities shared their experiences and successes in the ecosystem of the online video world where megolith multi-channel networks (MCNs) and independents battle for eyeballs, analytics, audiences and ad dollars…”

READ FULL ARTICLE [web]
SBF Speakers [web]
Silicon Beach Fest: Catching Up With Kevin Winston [web]