LA Mayor's Council on Innovation & Industry
The Los Angeles Mayor’s Council on Innovation and Industry (LAMCII) brings together 25 leaders from Los Angeles’ thriving growth company sector to identify the top issues facing growth companies in the region and prose actions to spur additional entrepreneurial activity and innovation.
In December, 2012, the LAMCII summarized its work to-date in this report and set forth the initiatives that it is now pursuing:
Creation of a “technology corridor” along the new light rail Expo line
The LAMCII will leverage City parcels to create a technology corridor along the Expo Line. The existing and planned extension of the Expo Line cuts across a large portion of Los Angeles, connecting the hot-bed of growth companies in Venice and Santa Monica to other areas of growth in Downtown Los Angeles and Culver City, and offering much needed access to underdeveloped areas in between.
The City of Los Angeles can bolster this development with tax-incentives and the contribution of city-owned parcels. City-owned parcels can be leveraged in a public-private partnership to create innovation hubs along the corridor. LAMCII is working with UCLA and USC to be cornerstone tenants and co-locate their incubation efforts at one of these locations.
Creation of The Edge.LA Fellowship Program
The LAMCII is creating The Edge.LA Fellowship Program, which is designed to match the 1.1 million college students in the Los Angeles region to successful local businesses. Although LA universities are home to some of the best architecture, design and engineering programs in the world, LAMCII’s researchers found that LA is facing a brain drain.
Since 2008, 54% of UCLA’s engineering graduates have chosen to relocate, creating a perception that there are not enough opportunities within the city. However, the 25 LAMCII members alone found over 500 open positions available within their companies. Once it is fully developed, the Edge.LA Fellowship will be a one-stop shop for all local universities and businesses to connect.
Creation of Leading Edge Awards
The LAMCII is launching an international innovation competition in the same vein as the XPrize with a goal of continuing to attract the world’s best entrepreneurs and start-ups to LA. The Leading Edge Award will begin accepting online proposals in spring 2013.
Communication of LA’s Message
The LAMCII also recognizes the need to communicate to the nation and the world that LA has significant opportunities for innovation and growth. As observed by Jimmy O’Mahony, Vice-Chairman of Wilshire Axon and the driving force behind LAMCII, “Our goal is to create a compelling and real story for LA that defines it as the go-to place for business innovation and fundamentally changes its perception, ensuring this city is in the top 3 list of must consider locations for talent, investors, businesses, and entrepreneurs.”
Research & Recommendations