Over the last few years, the region in western Los Angeles, California, between Los Angeles International Airport (LAX), Marina Del Rey and Santa Monica, known as “Silicon Beach” has gain much popular attention.
Yes, there is an existing precedent set over the last 2-3 decades with development and success of “Silicon Valley” near Palo Alto, California. As part of the “Digital Age”, many success stories have emerged and today home to multibillion dollar companies and enterprises such as, but not limited to, Google, Yahoo, HP, Facebook, Sun Microsystems, to name a few.
Silicon Beach has some unique and value-added features which are unique to Southern California. Besides the vast amount of sunshine, sand and surf, over the last decade, the region has attracted multitudes of entrepreneurs, investors, and alike. Currently, besides long-established industry, there are many startups and early stage companies as well as established companies undertaking new ventures including, but not limited to, information technology (IT), social media, advanced computer graphics, imaging and software development.
In addition, there is continual development of the arts, sciences, entertainment industry, aerospace industry as well as internationally recognized higher education institutions such as, University of Southern California (USC), California Institute of Technology (CalTech), and University of California at Los Angeles (UCLA), to name a few.
As the past 80-100 year economic-business cycle draws to close, based on current global macroeconomic scenario, there is a burgeoning need for undertaking advanced Research Design & Development (RD&D) of “New Age” products and services in critical technology areas. With the vast manpower, resources, infrastructure, and other added benefits, Silicon Beach can actually leverage potential value addition by an increased and concerted effort for incubating startups and early stage companies. Key cutting-edge technologies in "New Age" sectors may include Clean-Tech (including Clean Energy), Bio-Tech, and Digital Media.
In addition, there may be a need for increased convergence, cooperation and participation between “Government-Corporate-Academia-Individuals” in further enhancing the “New Age” products and services value chain. This may be achieved via new technology parks, industrial hubs, export-zone, free-trade zones and related incentives which specifically target Silicon Beach. Through potential “Private-Public-Partnerships” (PPP), there can be a potential upside for both private and public capital (equity, debt, working capital) in creating new wealth and increasing jobs, employment base as well as tax revenues to Federal/State/Local government(s). Through value-added “New Age” products and services, main emphasis is on providing investors with safer destination for their investment capital while assuring secure return of capital then followed by return on investment. In addition, startups and early stage companies gain from critical seed capital, development funding, expansion capital as well as potential pre-IPO funding.
The need-of-the-hour may entail in creating dynamic mentoring networks to help, assist, guide and advise young and bright talented entrepreneurs and alike through the process of RD&D as well as commercialization of Clean-Tech, Bio-Tech and Digital Media.