The Tech Capital of the World
California lit the match that fuels digital transformation. As Mark Arend of Site Selection Magazine puts it, “No other location can compete with California’s internet ecosystem.” California is the tech capital and cyber capital of the world, employing more than one million people.
The tech industry drives all the industries in California now. Given the scale of the California economy as the sixth largest economy in the world, there are exponential opportunities for tech companies in the state.
A Greenhouse for Tech Entrepreneurship
California cities are number one in the world for supporting entrepreneurship and life-changing technologies. Silicon Valley has long been the world’s most famous tech hub, but San Diego, Los Angeles, and Bakersfield are following close behind. Tech giants, top-notch tech schools, venture capitalists, and prestigious research facilities are all within close proximity in these cities, making it easy for entrepreneurs to proliferate.
Karl Ulrich, the Vice Dean of Wharton School in San Francisco states, “Increasingly, cities have become desirable destinations for young people. Entrepreneurship has become an increasingly attractive career path for young people, and these trends become self-reinforcing. Once the flywheel of entrepreneurship gets going in a region, it becomes self-reinforcing.” That is certainly the case in California cities, as an increasing number of these young people pursue tech entrepreneurship in higher education and in their careers.
A Strategic Location for Tech Companies
Technology advances began in California, and this is where the creative workforce thrives and gains momentum. Because of this, tech companies are uniquely positioned to advance into new frontiers and markets much easier and sooner than they would elsewhere.