Aliso Viejo, CA, March 17, 2020. Octane, Southern California’s leading accelerator, released their 2019 Annual Impact Report today, covering January through December 2019. Orange County has become nationally recognized for its innovation, entrepreneurs, and a lifestyle to build sustainable growing businesses. Entrepreneurs continue to form companies and attract capital from large money centers. As a result, Octane portfolio raised a record of $337M in 2019, up 57% in 2019. Octane looks to continue its positive momentum in 2020.
In addition to executing on Octane’s strategic plan, Octane announced a variety of initiatives aimed at supporting the community and drawing national attention to the Southern California region, with a focus on Orange County:
The Impact Report also focuses on Capital and the need to attract institutional VCs as well as the need to bring help Orange County companies get funding. Our belief is that capital that is headquartered in our community will have a longer-term impact on the entire innovation ecosystem and lead to further investment in innovation.
Job creation is also a key metric that the 2019 Impact Report emphasizes. Octane’s mission is to create 55,000+ jobs by 2030, which will be accomplished through a joint strategy of both our LaunchPad Accelerator and Octane Enterprise Solutions (OES) platforms. We are proud to announce that since 2010, Octane has created 1,380 new high-paying jobs in the Southern California ecosystem, a 34% increase from 2018.
Finally, the Impact Report also features two success stories featuring 2019 Tech Innovation Forum LaunchPad Winner, CLI Studios, as well as 2019 Med Tech Innovation Forum LaunchPad Winner, IntelliStem.
To read our full impact report, click here.