Los Angeles has been a dream city for entrepreneurs and startup job seekers, and the best talent keeps on moving to Los Angeles every year, making the city more entrepreneurial and desirable than before.
Are you too, planning to move to Los Angeles to explore its startup ecosystem? Here is a quick guide with all the information about the startup culture in Los Angeles and why it is one of the best cities for aspiring entrepreneurs.
With hundreds of startups in Los Angeles, the city provides ample opportunities for professionals who want to work in exciting startups. The city has a GDP of 867 billion, thanks to several industries that are thriving in the city. Los Angeles is one of the largest American cities and has a population of over 14 million people.
Known as La-La Land and Tinseltown, Los Angeles is globally known for Hollywood and has a lot to offer for businesses across niches. This beautiful city does not just have a rapidly growing startup ecosystem to help build your entrepreneurial dreams but also provides a high quality of personal and family life
Why is Los Angeles the Best Place for Startups?
Los Angeles has outdone cities like New York, London, Berlin, and Chicago when it comes to the startup culture from time to time. The city boast of several entrepreneurial success stories like that of eHarmony, OnDemand, Hulu, Maker Studios, BeachMint and many more. The city is used to people flocking into it for their big Hollywood dreams, however, of late Los Angeles is seeing a new crowd of dreamers who are moving to the city to be a part of its startup Ecosystem. T
There more than ten startups in Los Angeles which are valued over $1 billion and several other startups with impressive valuations, this is the reason, Los Angeles offers great startup jobs and entrepreneurs and creatives keep on moving to Los Angeles.
Los Angeles has the Best Pool of Talent for Startups
Thanks to the soaring entertainment industry here, Los Angeles has some of the best creative talents. These professionals include graphic designers, marketing professionals, copywriters, and photographers. This lot of talent is what can help you design how your brand looks and for promoting it extensively. The presence of Hollywood also means the presence of celebrities in the city. A lot of startups have taken advantage of this and tried to get celebrities on board for various roles. This helps with the publicity of the brand and in its growth eventually.
The city’s proximity to premium colleges and universities like California Institute of Technology, Standford University, UCLA, and the University of Southern California gives startups a diverse human capital resource. A lot of students graduating from these world-class institutions often consider moving to Angeles to explore the startup potential in the city.
Entrepreneurs Are Moving to Los Angeles to Tap Global Business Opportunities
One of the crucial factors that decide whether a city is a viable option for business is by looking at how well it is connected. This connectivity is not just important for you and your associates to get in and out of the city for business trips but also for getting any raw materials for your products and services. By moving to Los Angeles, you can make the most of the ports that connect the city with the rest of the world.
Los Angeles startups also have the advantage of creating for themselves a diverse target audience. There are over 200 languages spoken in the city itself within the several communities. These communities offer a lucrative potential as a customer base for B2C startups in the area.
Los Angeles has All the Resources You Need
Real estate is an important factor that entrepreneurs have to take into account when considering any city to move into. Los Angeles offers a lot of advantage in this area over other metropolitan cities with prominent startup ecosystems. Rents for office and living spaces in Los Angeles are comparatively cheaper. The city is continually growing and bringing opportunities for businesses in the area to develop as well. Startups in Los Angeles in both early and established stages are getting on the bandwagon of shared office spaces too which are affordable alternatives instead of getting an entire office space. By moving to Los Angeles, you can explore and leverage the shared office spaces that come with all the amenities entrepreneurs need for the smooth functioning of their businesses.
Los Angeles Supports Entrepreneurial Dreams and Aspirations
This growing business city has a number of organizations and centers that are dedicated to accelerating the whole process of setting up a business. Business incubators in the city have helped hundreds of startups with the right ideas to grow and capture the market. Companies in the early stages can find the footing for setting up the venture with the help of these business incubators. This is one big reason why entrepreneurs favour setting up IT companies in Los Angeles.
The community here is very warm and positive. A Startup Genome report indicates a sense of community index of 6.4. The global average index for this parameter is 4.9 according to the same report.
If you have a groundbreaking business idea but need the right guidance to grow, get in touch with Yostartups today. Yostartups has helped materialize several business ideas into successful startups worldwide. You can check out many startup ideas free of cost on the 1001 Startup Ideas section of Yostartups website.
Entrepreneurs Are Moving to Los Angeles for a Fun Filled Life
While the advantages of moving to Los Angeles on the professional front are obvious there is a lot that one can do in their free time as well. The city offers culinary and entertainment experiences that are unparalleled. Enjoy everything from finger licking good street food to world-class culinary wonders in this city of dreams. Get spoilt for choice outdoors with its breathtaking beaches and find an array of indoor activities throughout the city. A high quality of life is an absolute asset that you can get when you move to Los Angeles.
Be a Part of a Growing Tech Sector in Los Angeles
Tech startups in Los Angeles are growing at an impressive speed. This sector consists of various smaller sub-sectors that are contributing to the increasing visibility of the tech niche. Some of the sub-sector strengths of the startup ecosystem in Los Angeles are as follows:
Cleantech Startups in Los Angeles
According to a report from the Startup Genome, 5.7% of the total venture capital funding investments between 2012 and 2017 was brought in by the startups in the cleantech niche. The city is pro-Cleantech and has set several goals for their local governing bodies to help in the growth of this sub-sector. The Los Angeles CleanTech Incubator is helping cleantech startups materialize their innovative ideas and the objectives set by the government.
The incubator is doing this in collaboration with top-notch educational and research firms like UCLA, Caltech, Jet Propulsion Laboratory, and University of South California. In case you are looking at starting a CleanTech Startup, here are some of the best startup ideas in CleanTech from Yostatups
Transportation Startups in Los Angeles
Startups offering transportation based products and services are getting all the required attention. This subsector has many startups that were materialized as a response to the city’s traffic woes. Some of the established players in this sub sector include SpaceX and HyperLoop. Apart from that one of the upcoming firms is NEXT Trucking. The company offers logistic solutions by connecting small and medium-sized trucking service providers with shippers.
Gaming Startups in Los Angeles
Gaming startups in Los Angeles had a 5% share in the total regional venture capital funding between 2012 and 2017. Los Angeles has the highest concentration of gaming startup companies in the U.S. A local success story of the gaming sector is that of Riot Games, whose game the League of Legends was a worldwide acclaimed game. The company is owned by Tencent. Another rapidly growing gaming startup is GameMine which has a global client base spread across 135 countries. It is a game publishing company that raised $20 million in Series A funding in 2017.
Los Angeles offers a good scope for startups to grow and nurture their business. The city is not just popular among entrepreneurs heading startups in the early stages but is also a preferred city for established companies to expand their business. Cross Campus, Bixel Exchange, Bixel, WeWork, and Mucker Capital are some of the ecosystem partners in Los Angeles that helps innovative entrepreneurial ideas take flight.
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This article is from Yostartups, YoStartups is a Pre Accelerator, and it empowers entrepreneurs to propel their business ideas into successful ventures. Yostartups’ core mission is to take the message of entrepreneurship to 1 billion people globally by 2020.
In case you are looking at scaling or launching a venture on similar lines, you can apply for our virtual acceleration program Excelrate on our website, Yostartups.com, Yostartups’ Excelrate program will help you in streamlining and structuring your startup idea. We have limited scholarships and discount packs for deserving business ideas, depending on the strength of your startup ideas, you may qualify for a discount.