Long Beach Breaks Into the Startup Accelerator SpaceRelease Date: 2019-05-29
By: Theo Douglas
Long Beach, home to a thriving port and the state’s seventh-largest city, plans to enter the tech startup world in earnest this year.
The city of Long Beach, Cal State Long Beach’s (CSULB) Institute for Innovation & Entrepreneurship and investment company Sunstone Management will further formalize a public-private partnership and activate the Long Beach Accelerator, aimed at connecting fledgling tech companies to the resources, expertise and capital they need to mature. Among the takeaways from the plan, announced April 18 at the Regional Economic Forum:
• The city’s Economic Development Blueprint was an early harbinger. Aimed at fostering business development, lucrative jobs and increased standards of living, the 2017 10-year plan demonstrated that in business assistance, merging industries and economic cooperation opportunities, “providing resources in what we call ‘ecosystem support’ for tech-related companies was an area of opportunity,” Economic Development Director John Keisler told Techwire.
One of three focus areas for CSULB’s Institute, formed in July 2017, is city partnerships. The Blueprint, its Director Wade Martin said, underscored “that you really create a stable and vibrant economy from the bottom up.” A strategy of courting large employers with incentives, he said, “generally does not pay off for the community.”
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