Connect’s Innovation Report Highlights Higher Federal Spending
Bruce V. Bigelow12/15/09Follow @bvbigelow
(Page 2 of 2)
18 percent from the third quarter of 2008, with 32 local companies receiving $236 million, according to data from PricewaterhouseCoopers and the National Venture Capital Association. Funding for early stage ventures accounted for almost 70 percent of San Diego’s total.
The Connect list of top 10 investment deals, based on MoneyTree’s 3Q data:
Roka Bioscience $37.2 million
Zogenix $36.0 million
Intellikine $25.5 million
DriveCam $19.0 million
Liquid Environmental Solutions $15 million
BeneChill $10.0 million
Rayspan Corp. $12.5 million
Achates Power $12.1 million
Medsphere Systems $12 million
Altain Therapeutics $11 million
Some other data points from the Connect report:
—Mergers and acquisitions were up to 32 deals in San Diego during the third quarter, compared with 24 deals during the previous quarter.
—In San Diego, 791 patents were granted during the third quarter, a 14 percent increase compared to the previous quarter, when 691 patents were granted. San Diego accounted for 17 percent of the patents filed statewide during the quarter.
—Both average weekly wages and employment fell slightly in the third quarter, with the total number of employees at San Diego private research institutes amounting to about 30,000 people. Average weekly wage for these employees dropped to roughly $1,764.
Connect’s innovation report, which it developed in partnership with the National University Institute for Policy Research, UC San Diego Extension, PricewaterhouseCoopers, the Procopio, Cory, Hargreaves & Savitch law firm, and the San Diego Business Journal, is intended to serve as economic indicator of the health of San Diego’s innovation economy in San Diego.
