San Diego Biotech Beach Keeps the Venture Capital Flowing
A recent study released by CONNECT and the San Diego Institute for Policy Research revealed the life science venture capital flow in 2008 so far.
In Q2, 76 new tech start-up were created (13% of California’s health tech activity). A hefty 27.6% of all San Diego’s start-up technology companies were in Pharma, Biotech or Medical. These industries tied with software for the biggest number of new starts.
From a venture capital standpoint, Biotech Beach is raking in the cash. While California took over 50% of the Nation’s venture capital investment in Q2 (3.9 billion), San Diego took in about 10% of that money. And Biotechnology accounted for 32% of dollars invested in San Diego based companies, with the average deal exceeding $10 million.
An interesting finding of the study is that typically the number of start-up in California increases dramatically in the second half of the year - with Q4 tripling Q1 activity. Now, that is something to look forward to.
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