In the U.S., Los Angeles ranks No. 4 in Early-Stage Funding Deals ; 10 in Rate of Entrepreneurship
For the 2020 Surge Cities index, Inc. and innovation policy company Startup Genome analyzed troves of data on seven essential indicators–such as early-stage funding and job creation–to determine the 50 best areas for startup growth. In the following dispatches, you’ll find a road map for turning forgotten ZIP codes into boomtowns–or simply for answering the age-old question: Where should you go next?
While the number of funding deals in Los Angeles and Orange County fell slightly in 2018, according to PricewaterhouseCooper’s and CB Insight’s MoneyTree Report, the area saw its biggest year in total funding since 2000, as investors poured more than $6 billion into area startups last year. According to local VC firm Amplify, the top 10 VC deals in L.A. in 2018 surpassed $2.5 billion collectively, which is double what that city saw in 2017. Further bolstering the LA startup ecosystem, tech hardware company Ring sold to Amazon in 2018 for more than $1 billion, and faux burger company Beyond Meat had a beyond successful IPO in May 2019. “It used to be if you wanted to start a fintech company, you had to go to New York,” says Fika Ventures VC Eva Ho. “We have SaaS, fintech, transportation, logistics–now there’s no sector [L.A.] doesn’t cover substantially.” –Lindsay Blakely
Read more at Inc. Magazine: https://www.inc.com/natasha-roy/top-10-fastest-growing-companies-los-angeles-2019-inc5000.html