Recently, there is growing cacophony (here, here and here) about how L.A. is turning into the next San Francisco or New York. VCs are "moving in" and renting apartments in "Silicon Beach," the small strip of land between Venice and Santa Monica. One senior talent agent recently left his company to incubate startups. Studio executives have seen cruising tech events. "I'm developing an app" has become the new "I'm writing a script."
Some of the hottest L.A.-based startups include Viddy, Beachmint, Maker, MovieClips (recently renamed Zefr), Nasty Gal, and Scopely.
Check out this map recently put together of all the L.A. tech action.
Even talent agencies are getting into the mix. For example, UTA has helped incubate several companies over the past year, including AwesomenessTV and ShopHers, both of which have landed subsequent venture investment.
Technology accelerators and incubators have sprung up around L.A., making it easier for a new entrepreneurs and seasoned Hollywood executives alike to quit their jobs and pursue the startup dream. Accelerators (such as Mucker Labs, LaunchPad and Amplify) focus primarily on finding early stage companies, while incubators (Science) are generally focused on discovering entrepreneurs and nurturing their ideas.
While both accelerators and incubators will offer companies and individuals up to $50,000 in investment, office space for a few months, access to a stream of investors, lawyers and mentors, they vary slightly and have their own distinct personalities. Each boasts about the high percentage of their companies that raise funding and go on to exit.
Here is a list of major players:
Top LA Tech Incubators
Open Image ModalAmplify LA is quick to say that their management team of seven people doesn't just invest in companies, but really works "in" them. A quick look at Managing Partner Paul Bricault's LinkedIn page shows that he is an advisor or sits on the board of over 10 startups. Bricault is no stranger to Hollywood, having been a board member at the former William Morris Agency. He also launched its Mail Room Fund. Based in Venice Beach, Amplify LA's 10,000 square feet is the only incubator within the City of Los Angeles. It has deep ties with the mayor's office, and the entrepreneurs receive a 3-year tax hiatus on the startup's gross tax. Investors in Amplify LA's first round of funding included Hollywood heavyweights such as Mark Burnett as well as technology VCs Tomorrow Ventures (Eric Schmidt), Accel Partners and Greycroft Partners. (credit:Amplify LA)
Open Image ModalMucker is part of the esteemed "TechStars Network" and offers a structured three-month program for startups. The incubator's name is inspired by Thomas Edison's lab where people came together to create innovative products to disrupt industries. In a PandoDaily re-cap of their demo day, the reporter quoted LaunchPad LA's Sam Teller as describing Mucker Labs as the "no-networking, no-distractions, only-building-strong-companies" incubator. Watch out for companies such as Walla.by Financial and SurfAir that came out of the last class. (credit:Mucker Labs)
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