San Diego’s innovation economy obviously imploded last year—dragged down by general economic conditions that were hammered by the collapse in Southern California real estate, the breakdown of the capital markets, and a decline in tourism. Now there are signs that things are stabilizing, and might even be gradually improving, according to several reports released last week.
In a report on San Diego’s innovation economy, the Connect nonprofit group for technology and entrepreneurship found that 319 startups were launched in 2009—including 74 in the fourth quarter. That’s about 13 percent better than the 282 local startups that Connect counted in 2008, but still shy of the 332 startups formed in 2007. In its roundup of San Diego’s innovation economy, Connect also makes these points:
—The value of M&A deals in the San Diego area soared during the fourth quarter. Connect tallied 29 deals totaling nearly $1.3 billion that were closed, compared with 32 deals totaling $99 million in the previous quarter.
To read the full, original article click on this link: Searching For Signs of a Comeback in San Diego’s Innovation Economy | Xconomy
Author: Bruce V. Bigelow
