Comments on: Solving San Diego’s Venture Capital Crisis is Mission for New Task Force of Tech Leaders http://www.xconomy.com/san-diego/2009/10/21/solving-san-diegos-venture-capital-crisis-is-mission-for-new-task-force-of-tech-leaders/ Business + Technology in the Exponential Economy Sat, 11 Feb 2012 12:29:49 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Venture investor Dave Titus joins San Diego’s Economic Development Corp. http://www.xconomy.com/san-diego/2009/10/21/solving-san-diegos-venture-capital-crisis-is-mission-for-new-task-force-of-tech-leaders/comment-page-1/#comment-104042 Venture investor Dave Titus joins San Diego’s Economic Development Corp. Wed, 06 Jan 2010 17:45:36 +0000 http://www.xconomy.com/?p=46996#comment-104042 [...] was named in October as chairman of a task force to find new sources of capital for the San Diego region, [...] [...] was named in October as chairman of a task force to find new sources of capital for the San Diego region, [...]

]]> By: Will Smith http://www.xconomy.com/san-diego/2009/10/21/solving-san-diegos-venture-capital-crisis-is-mission-for-new-task-force-of-tech-leaders/comment-page-1/#comment-87861 Will Smith Wed, 21 Oct 2009 20:55:47 +0000 http://www.xconomy.com/?p=46996#comment-87861 What makes this blue ribbon panel think they will have any insight on how to innovate a solution? What value have they created other than transient bumps for inside traders in their companies. What is being forgotten is that sustainable value is created by producing a product or service--not a VC prescribed M&A or exit through the stock market. San Diego has a very poor track record in producing products and the San Diego biotech business model looks more like a Ponzi scheme than an investment opportunity. The solution is to focus on technology that produces products, finance through bootstrapping, grants, loans, and corporate partnerships and to avoid the financial parasites that add nothing but money to the deal. The people qualified to structure the rescue plan should be those who can say they invented something or who built a company that still exists. What makes this blue ribbon panel think they will have any insight on how to innovate a solution? What value have they created other than transient bumps for inside traders in their companies. What is being forgotten is that sustainable value is created by producing a product or service–not a VC prescribed M&A or exit through the stock market. San Diego has a very poor track record in producing products and the San Diego biotech business model looks more like a Ponzi scheme than an investment opportunity. The solution is to focus on technology that produces products, finance through bootstrapping, grants, loans, and corporate partnerships and to avoid the financial parasites that add nothing but money to the deal. The people qualified to structure the rescue plan should be those who can say they invented something or who built a company that still exists.

]]> By: Mary Canady http://www.xconomy.com/san-diego/2009/10/21/solving-san-diegos-venture-capital-crisis-is-mission-for-new-task-force-of-tech-leaders/comment-page-1/#comment-87847 Mary Canady Wed, 21 Oct 2009 17:14:08 +0000 http://www.xconomy.com/?p=46996#comment-87847 Great article and initiative to bring more early-stage funding to San Diego Biotech. I have two questions: 1. Will there be a representative for the San Diego biotechnology professionals/scientists in the task force? At the San Diego Biotechnology Network events, we meet many scientists who are having a very difficult time finding jobs, for example in drug discovery R&D. If the direction San Diego Biotech takes (e.g. into Clean Tech) does not match their talents, then training, etc. efforts should be undertaken to retain them in the region, as they are one of our most important assets. Additionally, many of these scientists have fantastic ideas for growing biotech in the region. 2. San Francisco's financial center is mentioned, what about Los Angeles as a source? Opportunities for 'fewer than 453 mile' funding collaborations exist but in my opinion have not been cultivated as much as they could be. This may mean exploring more medical device startups in San Diego, considering Orange County/LA as a viable 'extension' to the San Diego region, or just bridging the two 'cultures.' Mary Canady Great article and initiative to bring more early-stage funding to San Diego Biotech. I have two questions:

1. Will there be a representative for the San Diego biotechnology professionals/scientists in the task force? At the San Diego Biotechnology Network events, we meet many scientists who are having a very difficult time finding jobs, for example in drug discovery R&D. If the direction San Diego Biotech takes (e.g. into Clean Tech) does not match their talents, then training, etc. efforts should be undertaken to retain them in the region, as they are one of our most important assets. Additionally, many of these scientists have fantastic ideas for growing biotech in the region.
2. San Francisco’s financial center is mentioned, what about Los Angeles as a source? Opportunities for ‘fewer than 453 mile’ funding collaborations exist but in my opinion have not been cultivated as much as they could be. This may mean exploring more medical device startups in San Diego, considering Orange County/LA as a viable ‘extension’ to the San Diego region, or just bridging the two ‘cultures.’

Mary Canady

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