Los Angeles is ranked #3 as the leading City for startups. Compass and Techcrunch ranking gauges the world’s leading startup ecosystems—the broad infrastructure of talent, knowledge, entrepreneurs, venture capital, and companies that make up a startup community. The report measures these ecosystems based on their quality of talent, pool of venture capital resources, experience and mentorship provided by startup founders, market reach of their companies, and the ultimate performance and exit value of their companies. Increasingly, the global economy will be defined by the startups and entrepreneurs that are making tomorrow’s technologies a reality, according to Bjoern Lasse Herrmann, the chief executive at Compass. Herrmann believes a nation’s strength will continue to rest on the shoulders of hundreds of innovative small businesses. Herrmann says: “As the Industrial Economy falls away with increasing speed and half the world’s current jobs will be replaced by software, it becomes critical to build thoughtful programs to nurture the entrepreneurial renaissance that will take its place.”
Los Angeles will gain economic traction as it continues to produce new business.