BERKELEY S INNOVATION ECOSYSTEM Office of Economic Development Work Session Presentation to the Berkeley City Council
Introduction Main Points High tech companies grow jobs Innovation Drain is a problem for Berkeley Berkeley has a strong Innovation Ecosystem We need to take further steps to make it even stronger
High Tech Companies Grow Jobs
Tech Start-ups Linked to Job Growth Jobs Multiplier 4.3 1.4
Innovation Drain is a Problem
The Problem of Innovation Drain Berkeley Emeryville Oakland Dublin San Francisco Silicon Valley
Berkeley s Innovation Ecosystem
Innovation Ecosystem Assets Collaborative Leadership Culture Research & Education Office Space TECH STARTUPS Skilled Workforce Existing Startups Capital
Research and Education Institutions UC Berkeley and the Berkeley Lab
Research and Education Institutions SkyDeck Accelerator
Research and Education Institutions Next Steps Develop new strategies to retain spinouts generated by UC Berkeley and the Lab Work more closely with SkyDeck teams to help them stay here when they graduate
Collaborative Leadership Berkeley Startup Cluster Berkeley Startup Cluster Berkeley
Collaborative Leadership Berkeley Startup Cluster Berkeley Startup Cluster
Collaborative Leadership Berkeley Startup Cluster Meetups and Events
Collaborative Leadership Chuck Teller Berkeley Startup Cluster Berkeley Startup Cluster Advisory Group
Collaborative Leadership Berkeley Emeryville BIO
Collaborative Leadership Next Steps Expand the Berkeley Startup Cluster Advisory Group and engage their networks Create a Berkeley/Emeryville BIO Advisory Group Develop strategies to engage with women and minority leaders in the local startup economy
Office Space Affordable / Low Inventory $8.00 Average Asking Office Rents $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00
Office Space locateinberkeley.com
Office Space Coworking Space
Office Space Next Steps Work with the Planning Department on policies to encourage Class A office space Work with property owners, developers and brokers to encourage development of a Downtown Class A office building Attract more coworking spaces Attract a coworking maker space like TechShop
Access to Capital Investment in Berkeley Startups
Access to Capital Pitch Events
Access to Capital Next Steps Find new ways to collaborate with angel partners Develop a strategy to promote Berkeley with the VC sector across the region Co-sponsor pitch events that focus on women, minorities, or others who face additional barriers to funding.
Culture and Connectivity Quality of Life
Culture and Connectivity Next Steps Attract hip, new food/drink and entertainment venues Work with the Downtown and Telegraph business community to create novel special events
Existing Base of Startups
Existing Base of Startups Startup Survey OED surveyed over 450 people who work in startups A combined total of 97 percent of respondents were satisfied with locating my business in Berkeley Respondents expect their companies to grow in the next 6-12 months Most of the companies hope to stay in Berkeley as they grow.
Existing Base of Startups Next Steps Help growing businesses find expansion space in Berkeley Deepen relationships between startups and local resources to anchor them here Find ways to work with Finance, Planning, and IT Departments to simplify City processes.
Conclusions Word is getting out about Berkeley s strengths as a place for startups Relationships between startups and their support services are getting stronger We are seeing results: New businesses are choosing to expand here New incubators are targeting various sectors Co-working and office spaces are accommodating the needs of growing businesses New job creation is occuring