A just-released report on San Diego’s innovation economy shows 102 new technology companies were created during the three months that ended on June 30—a 53 percent increase over the 66 startups launched during the first three months of 2009, and 34 percent more than the 76 companies started during the second quarter of 2008.
A key factor in the startup surge was a 90 percent increase in venture capital investments in the region over the three-month period, according to the report, which was released by Connect, a San Diego nonprofit group that promotes technology innovation and entrepreneurship. The report found that venture firms invested a total of $172 million in 22 San Diego area companies, based on regional data from the National Venture Capital Association, PricewaterhouseCoopers, and Thomson Reuters.
Of the 102 startups counted in the area, 37 were focused on biotech, pharmaceutical, and biomedical technologies, 22 were software companies, and 14 specialized in communications, according to the report. Connect also counted 12 cleantech startups during the quarter, more than any other region in California.
Connect started the quarterly report to provide an indicator of the relative health of the innovation economy in San Diego. The indicators suggest things are getting better, but the startup climate remains cautious compared to past years.
We’ve seen much of this information before, notably the second-quarter VC investment data. Still, Connect offers some additional data, and its list of the top 10 investments varies from … Next Page »